Prestige Inc. experienced the following $12$ transactions during the month of January $20YY.$

Issue common stock for $$3,000$ cash.

Purchase inventory for $$8,000$ on credit.

Sell inventory costing $$8,000$ for $$15,000$ on credit.

Issue long$-$term debt for $$10,000$ cash.

Pay $$15,000$ cash for property, plant, and equipment $($PPE$).$

Pay $$500$ cash for salaries.

Receive $$300$ cash in advance from client for future consulting services

Pay $$50$ cash for interest on long$-$term debt.

Receive $$3,000$ cash from accounts receivable.

Pay $$2,500$ cash toward accounts payable.

Perform consulting services for client who previously paid in transaction $7.$

Pay $$100$ cash for dividends.

Required:

Record each transaction in the financial statement effects template. The beginning balances for each account are entered into the template.

Refer to the information in Review $3-2$ for Prestige Inc., which is preparing to record its accounting adjustments for month$-$end January $20YY.$

Required:

Enter the following accounting adjustments in the financial statement effects template, included in Review $3-2.$

$13.$ Record depreciation expense of $$600.$

$14.$ Accrue salaries of $$1,000.$

$15.$ Advertising costing $$1,300$ is aired. Prestige had previously paid cash for the advertising and recorded an asset labeled "Prepaid expense."

$16.$ Accrue income taxes of $$1,200$ &

Expenses $\backslash$

$=$

&

$\backslash$table$[]$

Net $\backslash$

Income

$\backslash$end$\{$tabular$\}\backslash$

$\backslash$hline Accounting adjustments & & & & & & & & $\backslash$

$\backslash$hline $13.$ Record depreciation of $$600$ & & & & & & & & $\backslash$

$\backslash$hline $14.$ Accrue salaries of $$1,000$ & & & & a & & & & $\backslash$

$\backslash$hline $15.$ Advertising costing of $$1,300$ is aired & & & & & & & & $\backslash$

$\backslash$hline $16.$ Accrue income taxes of $$1,200$ & & & & & & & & $\backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Refer to the information in Reviews $3-2$ and $3-3$ for Prestige Inc., which is preparing its financial statements for month$-$end January $20Yy.$ In addition, the financial statement effects template included the following $($beginning$)$ account balances at January $1,20Yy.$

$\backslash$table$[[$Accounts receivable $..........,$$$12,000,$Accounts payable. $.,$$$3,800$