Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1-13) assuming a perpetual FIFO inventory system. Purchases and sales of inventory are recorded using the gross method for cash discounts.

On January 1, 2021, the general ledger of Tripley Company included the following account balances: Credit Debit $214,000 64,000 $ 31,400 32,400 192,400 Accounts Cash Accounts receivable Allowance for uncollectible accounts Inventory Building Accumulated depreciation Land Accounts payable Notes payable (8%, due in 3 years) Common stock Retained earnings Totals 34,000 248,000 140,000 180,000 124,000 241,400 $750, 800 $750,800 The $32,400 beginning balance of inventory consists of 324 units, each costing $100. During January 2021, the company had the following transactions: January 2 Lent $44,000 to an employee by accepting a 6% note due in six months. 5 Purchased 4,700 units of inventory on account for $517,000 ($110 each) with terms 1/10, n/30. 8 Returned 100 defective units of inventory purchased on January 5. 15 Sold 4,500 units of inventory on account for $693,000 $154 each) with terms 2/10, n/30. 17 Customers returned 200 units sold on January 15. These units were initially purchased by the company on January 5. The units are placed in inventory to be sold in the future. 20 Received cash from customers on accounts receivable. This amount includes $38,400 from 2020 plus amount receivable on sale of 3,900 units sold on January 15. 21 Wrote off remaining accounts receivable from 2020. 24 Paid on accounts payable. The amount includes the amount owed at the beginning of the period plus the amount owed from purchase of 4,300 units on January 5. 28 Paid cash for salaries during January, $52,000. 29 Paid cash for utilities during January, $34,000. 30 Paid dividends, $5,400. Month-end adjusting entries: a. Of the remaining accounts receivable, the company estimates that 10% will not be collected. b. Accrued interest revenue on notes receivable for January. c. Accrued interest expense on notes payable for January. d. Accrued income taxes at the end of January for $7,400. e. Depreciation on the building, $4,400. 1. Lent $44,000 to an employee by accepting a 6% note due in six months. 2. Purchased 4,700 units of inventory on account for $517,000 ($110 each) with terms 1/10, n/30. 3. Returned 100 defective units of inventory purchased on January 5. 4. Sold 4,500 units of inventory on account for $693,000 ($154 each) with terms 2/10, n/30. Record the sale. 5. Sold 4,500 units of inventory on account for $693,000 ($154 each) with terms 2/10, n/30. Record the cost of goods sold. 6. Customers returned 200 units sold on January 15. These units were initially purchased by the company on January 5. The units are placed in inventory to be sold in the future. Record the sales return. 7. Customers returned 200 units sold on January 15. These units were initially purchased by the company on January 5. The units are placed in inventory to be sold in the future. Record the cost of the items returned. 8. Received cash from customers on accounts receivable. This amount includes $38,400 from 2020 plus amount receivable on sale of 3,900 units sold on January 15. 9. Wrote off remaining accounts receivable from 2020. 10. Paid on accounts payable. The amount includes the amount owed at the beginning of the period plus the amount owed from purchase of 4,300 units on January 5. 11. Paid cash for salaries during January, $52,000. 12. Paid cash for utilities during January, $34,000. 13. Paid dividends, $5,400. 14. Of the remaining accounts receivable, the company estimates that 10% will not be collected. Record the adjusting entry for bad debts. 15. Record the adjusting entry for accrued interest revenue on the notes receivable for January. 16. Record the adjusting entry for accrued interest expense on the notes payable for January. 17. Accrued income taxes at the end of January for $7,400. Record the adjusting entry for income taxes. 18. Depreciation on the building, $4,400. Record the adjusting entry for depreciation. 19. Record the closing entry for temporary credit accounts. 20. Record the closing entry for temporary debit accounts. On January 1, 2021, the general ledger of Tripley Company included the following account balances: Credit Debit $214,000 64,000 $ 31,400 32,400 192,400 Accounts Cash Accounts receivable Allowance for uncollectible accounts Inventory Building Accumulated depreciation Land Accounts payable Notes payable (8%, due in 3 years) Common stock Retained earnings Totals 34,000 248,000 140,000 180,000 124,000 241,400 $750, 800 $750,800 The $32,400 beginning balance of inventory consists of 324 units, each costing $100. During January 2021, the company had the following transactions: January 2 Lent $44,000 to an employee by accepting a 6% note due in six months. 5 Purchased 4,700 units of inventory on account for $517,000 ($110 each) with terms 1/10, n/30. 8 Returned 100 defective units of inventory purchased on January 5. 15 Sold 4,500 units of inventory on account for $693,000 $154 each) with terms 2/10, n/30. 17 Customers returned 200 units sold on January 15. These units were initially purchased by the company on January 5. The units are placed in inventory to be sold in the future. 20 Received cash from customers on accounts receivable. This amount includes $38,400 from 2020 plus amount receivable on sale of 3,900 units sold on January 15. 21 Wrote off remaining accounts receivable from 2020. 24 Paid on accounts payable. The amount includes the amount owed at the beginning of the period plus the amount owed from purchase of 4,300 units on January 5. 28 Paid cash for salaries during January, $52,000. 29 Paid cash for utilities during January, $34,000. 30 Paid dividends, $5,400. Month-end adjusting entries: a. Of the remaining accounts receivable, the company estimates that 10% will not be collected. b. Accrued interest revenue on notes receivable for January. c. Accrued interest expense on notes payable for January. d. Accrued income taxes at the end of January for $7,400. e. Depreciation on the building, $4,400. 1. Lent $44,000 to an employee by accepting a 6% note due in six months. 2. Purchased 4,700 units of inventory on account for $517,000 ($110 each) with terms 1/10, n/30. 3. Returned 100 defective units of inventory purchased on January 5. 4. Sold 4,500 units of inventory on account for $693,000 ($154 each) with terms 2/10, n/30. Record the sale. 5. Sold 4,500 units of inventory on account for $693,000 ($154 each) with terms 2/10, n/30. Record the cost of goods sold. 6. Customers returned 200 units sold on January 15. These units were initially purchased by the company on January 5. The units are placed in inventory to be sold in the future. Record the sales return. 7. Customers returned 200 units sold on January 15. These units were initially purchased by the company on January 5. The units are placed in inventory to be sold in the future. Record the cost of the items returned. 8. Received cash from customers on accounts receivable. This amount includes $38,400 from 2020 plus amount receivable on sale of 3,900 units sold on January 15. 9. Wrote off remaining accounts receivable from 2020. 10. Paid on accounts payable. The amount includes the amount owed at the beginning of the period plus the amount owed from purchase of 4,300 units on January 5. 11. Paid cash for salaries during January, $52,000. 12. Paid cash for utilities during January, $34,000. 13. Paid dividends, $5,400. 14. Of the remaining accounts receivable, the company estimates that 10% will not be collected. Record the adjusting entry for bad debts. 15. Record the adjusting entry for accrued interest revenue on the notes receivable for January. 16. Record the adjusting entry for accrued interest expense on the notes payable for January. 17. Accrued income taxes at the end of January for $7,400. Record the adjusting entry for income taxes. 18. Depreciation on the building, $4,400. Record the adjusting entry for depreciation. 19. Record the closing entry for temporary credit accounts. 20. Record the closing entry for temporary debit accounts