PLEASE PROVIDE THE ADJUSTING AND CLOSING ENTRIES
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 A B D Date Amount Description 12/15/21 $ 1,500 Sold books on account to Dr. Seuss for with terms 2/15 net/30. 12/15/21 Received payment from Leo Tolstoy for the open invoice number 132. 12/16/21 $ 2,500 Purchased books on account from Random House for with terms 2/10 net/30, 12/16/21 $ 5,000 Company borrowed on the line of credit (Note this was added after the intial file was posted) 12/17/21 $ 2,000 Purchased books on account from Barnes & Noble for with terms 2/15 net/30. 12/18/21 $ 1,000 Sold books on account to Charles Dickens with terms 2/10 net/30. 12/18/21 Received payment from Dr. Seuss for the open invoice number 122. 12/19/21 Made payment on the open invoice from Random House purchase order number 207. 12/20/21 $ 250 Paid interest on the line of credit through 12/16/21. 12/22/21 Received payment from Charles Dickens for the open invoice number 128. 12/22/21 Charles Dickens returned the books sold to him on 12/18/21. 12/23/21 Made payment on the open invoice from Barnes & Noble purchase order number 212. 12/23/21 $ 1,000 Returned part of the books purchased from Barnes & Noble on 12/17. 12/24/21 $ 1,000 Owner withdrew cash for personal use. 12/25/21 $ 750 Sold books on account to Leo Tolstoy with terms 2/10 net/30. 12/25/21 $ 200 Paid current utility bill. 12/26/21 $ 50 Received deposit on new Walking Dead book due out in January. 12/28/21 $ 500 Paid for December radio advertising. 12/30/21 $ 2,400 Purchased a Computer paying $250 in cash the remainder on a note. (No salvage value, 3 Year life, SL dep.) 12/30/21 $ 6,000 Owners contributed another vehicle to the business recorded at market value. (Salvage Value $1,000, Life 3 Years, SL.) 12/31/21 $ 1,800 Paid next 6 months of auto insurance. Adjusting and Closing Entry Information Record depreciation for the year. The prepaid insurance account contains the unexpensed vehicle premium for December. The Line of Credit (Note Payable) has a stated annual interest rate of The physical inventory shows a balance of (NOTE: Periodic system used) 12% $3,500.00 ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Customer #101 Dr. Seuss Date Invoice # Debit Credit Balance 30-Nov $ 1-Dec 122 $ 1,000.00 $ 1,000.00 Sold books on account to Dr. Seuss with terms 2/15 net/30 Customer #102 Charles Dickens Date Invoice # Debit Credit Balance 30-Nov $ 8-Dec 128 $ 900.00 $ 900.00 Sold books on account to Charles Dickens with terms 2/10 net/30 Customer #103 Leo Tolstoy Date Invoice # Debit Credit Balance 30-Nov $ 10-Dec 132 $ 600.00 $ 600.00 Sold books on account to Leo Tolstoy with terms 2/10 net/30 ACCOUNTS PAYABLE SUBSIDIARY LEDGER Supplier #101 Random House Date Order # Debit Credit Balance 30-Nov $ 7-Dec 207 $ 400.00 $ 400.00 Purchased books on account from Random House with terms 2/10 net/30 Supplier #102 Barnes & Noble Date Order # Debit Credit Balance 30-Nov $ 9-Dec 212 $ 1,100.00 $ 1,100.00 Purchased books on account from Barnes & Noble with terms 2/15 net/30 FIXED ASSET LEDGER Estimated Purchase Purchase Estimated Salvage Accumulated Type of Years in Date Price Life Value Depreciation Book Value Depreciation Service 1/1/2015 $50,000.00 20 $5,000.00 $ 13,500.00 $ 36,500.00 SL 6 Annual Depreciation $ 2,250.00 Building Equipment 1/1/2018 $ 7,500.00 4 $ 500.00 $ 5,250.00 $ 2,250.00 SL 3 $ 1,750.00 Vehicle 1/1/2020 $ 8,000.00 3 $2,000.00 $ 2,000.00 $ 6,000.00 SL 1 $ 2,000.00
