Please help me with part 7! I provided parts 1-6. (Part 5 is optional I did not add it)

Comprehensive Problem 2 Part 1 and Part 2 Palisade Creek Co. is a merchandising business that uses the perpetual inventory system balances for Palisade Creek Co as of May 1, 2019 (unless otherwise indicated), are as follows 110 Cash $63.600 112 Accounts Receivable 233.900 115 Merchandise Inventory 62.400 116 Estimated Returns Inventory 117 Prepaid Insurance 16,800 118 Store Supplies 11.400 123 Shore Equipment 569,500 Accumulated Depreciation Store 56,700 Equipment 210 Accounts Payable 95.500 211 Customer Refunds Payable 50,000 212 Salones Payable 310 Lynn Tolley, Capital, June 1, 2018 685300 311 Lynn Tolley, Drawing 410 Sales 5,069,000 510 Cost of Merchandise Sold 2,823,000 520 Sales Solares Expense 521 Advertising Expo 22 Depreciations 523 Store Supplies Expense 529 Miscellaneous Seling Expense 12,600 530 Ome Salaries Expo 382,100 531 Rent Expense 33,700 532 Insurance Expense 539 Miscellaneous Administrative Expense 7,800 Part 1: Using the attached spreadsheet, enter the balances of each of the accounts in the appropriate balance column of a four-column count Writerance in the item section, and place a checkmark (V) in the Posting Reference column. Journalize the transactions for May, the last month of the fiscal year, below Part 2: Post the journal to the general ledger you created in Part I, extending the month and balances to the propriate balance columns after all posting is completed in this problem, you are not required to update or post to the accounts receivable and accounts payable subsidiary ledgers For a compound transaction, if an amount box does not require an entry, leave it blank or enter "o". May 1: Paid rent for May, $5,000. Description Post. Ref. Debit Credit Rent Expense 5,000 Cash 5,000 May 3: Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. Description Post. Ref Debit Credit Merchandise Inventory 36,00 Accounts Payable-Martin Co. 36,00 May 4: Paid freight on purchase of May 3, $600. Description Post. Debit Credit Merchandise Inventory 600 600 May 6: Sold merchandise on account to Korman Co., terms 2/10, n/30, FOB shipping point, $68,500. The cost of the merchandise sold was $41,000. Description Post Debit Credit Accounts Receivable-Korman Co. 68,501 Sales 68,50 Cost of Merchandise Sold 41,001 Merchandise Inventory 41,00 May 7: Received $22,300 cash from Halstad Co. on account. May 7: Received $22,300 cash from Halstad Co. on account. Description Post. Debit Credit 22,30 Accounts Receivable-Halstad Co. 22,30 Cash May 10: Sold merchandise for cash, $54,000. The cost of the merchandise sold was $32,000. Description Post Debit Credit Cash 54,00 Sales 54,00 Cost of Merchandise Sold 32,00 Merchandise Inventory 32,00 May 13: Paid for merchandise purchased on May 3. Description Post. Debit Ref. Credit Accounts Payable-Martin Co. 36,00 Cash 35,281 May 15: Pald advertising expense for last half of May, $11,000. Description Post: Debit Credit Advertising Expense 11,00 Cash 11,00 May 16: Received cash from sale of May 6. May 20: Sold merchandise on account to Crescent Co., terms 1/10, 1/30, FOB shipping point, $110,000. The cost of the merchandise sold was $70,000 Description Po Debit Ref. Der Credit Accounts Recevable-Crescent Co. 110,0 Sales 110,0 Cost of Merchandise Sold 70,00 Merchandise Inventory 70,00 May 21: For the convenience of Crescent Co., paid freight on sale of May 20, $2,300. Description Post Debit Credit Accounts Payable-Crescent Co. 2,300 2,300 Cash May 21: Received $42,900 cash from Gee Co, on account. Description Pool Debit Credit Cash 42,901 Accounts Receivable-Gee Co. 42,90 May 21: Purchased merchandise on account from Osterman Co., terms 1/10, 1/30, FOB destination, $88,000 Description Post Debit Credit Merchandise Inventory 8,001 Accounts Payable Osterman Co. 88,00 May 24: Retumed damaged merchandise purchased on May 21, receiving a credit memo from the seller for $5,000 May 20: Sold merchandise on account to Crescent Co., terms 1/10, n/30, FOB shipping point, $110,000. The cost of the merchandise sold was $70,000. Description Post. Debit Ref. Credit 110,0 Accounts Recevable-Crescent Co. Sales 110,0 70,00 Cost of Merchandise Sold Merchandise Inventory 70,00 May 21: For the convenience of Crescent Co., paid freight on sale of May 20, $2,300. Description Post Debit Credit Accounts Payable-Crescent Co. 2,300 Cash 2.300 May 21: Received 542,900 cash from Gee Co. on account. Description Post Debit Ref. Credit Cash 42,901 Accounts Receivable-Gee Co. 42,90 May 21: Purchased merchandise on account from Osterman Co., terms 1/10, n/30, FOB destination, $88,000. Description Post: Debit Credit Merchandise Inventory 88,001 Accounts Payable-Osterman Co. 88,00 May 24: Returned damaged merchandise purchased on May 21, receiving a credit memo from the seller for $5,000 May 24 tumedamaged merchandise purchased on May 21, receiving a credt meme from the ser for $5.000 Description on De Credit 5.000 Recent Pay - Oranco Merchandise Tatory 5.000 e d was $4.300 May 26 de hon made for Description Customers and Payable 37.500. The cost of the merchand Debit Credit 7.500 7,500 4,000 4,800 Merchandise Inventory Cost of Merchandise Sold May 2: Pald sales salaries of $56.000 and office salaries of $20,000 Description Post Debit Credit Sales Salaries Expense 56,00 ome Salaries Expanse 29.00 May 29 the Description store supplies for ca Pew Rel. Debit 52.400 Credit May 30 merchandi t te Tumer Cam 10.30, o g The cost of the mechani 7 ,000 Cash 85,00 May 29: Purchased store supplies for cash, $2,400. Description Post. Ref. Debit Credit Store Supplies 2,400 Cash 2,400 May 30: Sold merchandise on account to Tumer Co., terms 2/10, 1/30, FOB shipping point, $78,750. The cost of the merchandise sold was $47,000. Description Post Debit Credit Accounts Receivable-Turner Co. 78,75 Sales 78,75 Cost of Merchandise Sold 47,00 Merchandise Inventory 47,00 May 30: Received cash from sale of May 20 plus freight paid on May 21, Description Post Debit Credit 111,2 Accounts Receivable-Crescent Co. 112,3 Cash May 31: Paid for purchase of May 21, less return of May 24 Description Accounts Payable-Osterman Co. 82,12 Cash 82,12 Ref. Debit Credit Part 3: NOTE: You must complete parts 1 and 2 before completing part 3. Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank. Palisade Creek Co. Unadjusted Trial Balance May 31, 2019 Debit Credit Balances Balances Cash 83,600 Accounts Receivable 233,900 Merchandise Inventory 624,400 Estimated Returns Inventory 28,000 Prepaid Insurance 16,800 Store Supplies 11,400 Store Equipment 569,500 Accumulated Depreciation- 56,700 Store Equipment Accounts Payable 96,600 Customer Refunds Payable 50,000 Salaries Payable Lynn Tolley, Capital Lynn Tolley, Drawing 685,300 135,000 Sales 5,069,00 Cost of Merchandise Sold Sales Salaries Expense 2,823,00 664,800 281,000 Advertising Expense Depreciation Expense Store Supplies Expense Lash Accounts Receivable Merchandise Inventory Estimated Returns Inventory Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation- Store Equipment Accounts Payable 83,6UU 233,900 624,400 28,000 16,800 11,400 569,500 56,700 96,600 50,000 Customer Refunds Payable Salaries Payable Lynn Tolley, Capital Lynn Tolley, Drawing Sales 685,300 135,000 5,069,00 Cost of Merchandise Sold Sales Salaries Expense Advertising Expense 2,823,00 664,800 281,000 Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Miscellaneous Administrative Expense 12,600 382,100 83,700 7,800 5,957,60 5,957,60 Comprehensive Problem 2 Part 4 and 6: Note: You must complete parts 1, 2 and 3 before attempting to complete part 4 and part 6 Part 5 is an optional work sheet. 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete Part 6 a. Merchandise inventory on May 31 $570,000 12,008 b. Insurance expired during the year Store supplies on hand on May 31 4,000 14,000 d. Depreciation for the current year e. Accrued salaries on May 31: Sales salaries $7,000 Once salaries 5,600 13,600 The adjustment for customer returns and allowance is $60,000 for sales and $35,000 for cost of merchandise sold. 6. Journalire the adjusting entries. For a compound transaction, if an amount box does not require an entry, leave it blank. Post the adjusting entries to the attached spreadsheet you used in parts 1 and 2 Page 22 Description Post Debit Den Aer. Credit Adjusting Entries Page 22 Post. Date Description Debit Credit Ref. Adjusting Entries 2019 May 31 Cost of Merchandise Sold 54,400 Merchandise Inventory 54,400 May 31 Insurance Expense 12,000 Prepaid Insurance 12,000 May 31 Store Supplies Expense 7,400 Store Supplies 7,400 May 31 Depreciation Expense 14,000 Accumulated Depreciation-Store Equipment 14,000 May 31 Sales Salaries Expense 7,000 Office Salaries Expense 6,600 Calculator 12,000 eBook May 31 Insurance Expense 12,000 Prepaid Insurance 7,400 May 31 Store Supplies Expense 7,400 Store Supplies 14,000 May 31 Depreciation Expense 14,000 Accumulated Depreciation-Store Equipment 7,000 May 31 Sales Salaries Expense 6,600 Office Salaries Expense 13,600 Salaries Payable 6,000 May 31 Sales 6,000 Customer Refunds Payable 35,000 Estimated Returns Inventory May 31 35,000 Cost of Merchandise Sold Part 7: You must complete parts 1, 2, 3, 4 and 6 before completing part 7. Part 5 is the optional work sheet. Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank. Palisade Creek Co. Adjusted Trial Balance May 31, 2019 Debit Balances Credit Balances Cash Accounts Receivable Merchandise Inventory Estimated Returns Inventory Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation-Store Equipment Accounts Payable eBook Calculator Accumulated Depreciation-Store Equipment Accounts Payable Customer Refunds Payable Salaries Payable Lynn Tolley, Capital Lynn Tolley, Drawing Sales Cost of Merchandise Sold Sales Salaries Expense Advertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Miscellaneous Administrative Expense