Please use the template provided in the DropBox link to answer this question.

https://www.dropbox.com/s/7r0pe2usb2tl2jl/Acct%20Proj%20WP%202014-15%20OL.xls?dl=0

Thank you very much for your help.

Foundations of AccountingI Accounting Project Written by: Karen Pitsch David's Entertainment is a merchandising business. Their account balances as of November 30, 2012 (unless otherwise indicated), are as follows 110 Cash 112 Accounts Receivable 113 Allowance for Doubtful Accounts 115 Merchandise Inventory 116 Prepaid Insurance 117 Store Supplies 123 Store Equipment 124 Accumulated Depreciation-Store Equipment 210 Accounts Payable 211 Salaries Payable 218 Interest Payable 220 Note Payable (Due 2017) 310 D. Williams, Capital (January 1, 2012) 311 D. Williams, Drawing 312 Income Summary 410 Sales 411 Sales Returns and Allowances 412 Sales Discounts 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 523 Store Supplies Expense 529 Miscellaneous Selling Expensee 530 Office Salaries Expense 531 Rent Expense 532Insurance Expense 533 Bad Debt Expense 539 Miscellaneous Administrative Expense 550 Interest Expense $ 73,920 34,250 11,000 123,900 3,750 2,850 100,800 20,160 21,450 0 15,000 73,260 50,000 0 853,445 20,020 13,200 414,575 74,400 18,000 0 0 2,800 40,500 18,600 0 0 1,650 1,100 Depreciation Expense David's Entertainment uses the perpetual inventory system and the First-in, First-out costing method. Transportation-in and purchase discounts should be added to the Inventory Control Sheet, but since this will complicate the computation of the First-in, First-out costing method, please ignore this step in the process. They also use the Allowance Method for bad debt The Accounts Receivable and Accounts Payable Subsidiary Ledgers along with the Inventory Control Sheet should be updated as each transaction affects them (dail David's Entertainment sells four types of television entertainment units