Requirement 1. Journalize the adjusting entries using the following data: (Record debits first, then credits. Select the explanation on the last line of the a. Interest revenue accrued, $100. Date Accounts and Explanation Debit Credit Mar. 31 Interest Receivable 100 Adj. (a) Interest Revenue 100 To accrue interest revenue. b. Salaries (Selling) accrued, $3,200. Date Accounts and Explanation Debit Credit Mar. 31 3,200 Salaries Expense (Selling) Salaries Payable Adj. (b) 3,200 To accrue salaries expense. c. Depreciation Expense-Equipment (Administrative), $1,340. Date Debit Credit Mar. 31 Accounts and Explanation Depreciation Expense-Equipment (Administrative) Accumulated Depreciation Equipment 1,340 Adj. (c) 1,340 d. Interest expense accrued, $1,200. Date Accounts and Explanation Debit Credit Mar. 31 1,200 Interest Expense Interest Payable Adj. (d) 1,200 To accrue interest expense. e. A physical count of inventory was completed. The ending Merchandise Inventory should have a balance of $45,600. Date Accounts and Explanation Debit Credit Mar. 31 Cost of Goods Sold 300 Adj. (e) Merchandise Inventory 300 Choose from any list or enter any number in the input fields and then click Check Answer. f. Trundy estimates that approximately $9,000 of merchandise sold will be returned with a cost of $3,600. (1) Begin by preparing the entry for the estimated refunds. Do not prepare the entry to record the estimated return of merchandise with this entry. We will do that in the following step. Date Debit Credit Accounts and Explanation Sales Revenue Refunds Payable Mar. 31 Adj. (f1) 9,000 9,000 To record estimated refunds. (2) Prepare the entry for the estimated return of merchandise. Date Debit Credit Accounts and Explanation Estimated Returns Inventory Cost of Goods Sold Mar. 31 Adj. (12) 3,600 3.600 Choose from any list or enter any number in the input fields and then click Check Answer. Requirement 2. Prepare Trundy Electronics' adjusted trial balance as of March 31, 2024. Review the adjusting entries you prepared in Requirement 1. Trundy Electronics Company Adjusted Trial Balance March 31, 2024 Balance Account Title Debit Credit Cash $ 11,000 Accounts Receivable 33,400 300 6,300 Merchandise Inventory Office Supplies Equipment Accumulated DepreciationEquipment 134,000 1340 Accounts Payable 16,200 Unearned Revenue $ 14,000 Notes Payable, long-term 40,000 45,000 Common Stock Retained Earnings 17,150 Dividends 27,000 Sales Revenue 9000 Sales Discounts Forfeited 550 Cost of Goods Sold 3600 3200 Salaries Expense (Selling) Rent Expense (Selling) Salaries Expense (Administrative) I Itilities Expense (Administrative 15,000 5,300 10 6nn Trundy Electronics Company Unadjusted Trial Balance March 31, 2024 3200 15,000 5,300 10,600 100 Account Title Cash Read the requirements Salaries Expense (Selling) Rent Expense (Selling) Salaries Expense (Administrative) Utilities Expense (Administrative) Interest Receivable Interest Revenue Salaries Payable Depreciation Expense-Equipment (Administrative) Interest Expense Interest Payable Estimated Returns Inventory Refunds Payable Balance Debit Credit 11,000 33,400 $ 100 3,200 45.900 1,340 1,200 6,300 134,000 1,200 Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Revenue Notes Payable, long-term $ 37,600 3600 9000 16,200 14,000 255940 Total 40,000 Requirements 16,200 14,000 40,000 45,000 17,150 27,000 Accounts Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Sales Discounts Forfeited Cost of Goods Sold Salaries Expense (Selling) Rent Expense (Selling) Salaries Expense (Administrative) Utilities Expense (Administrative) 1. Journalize the adjusting entries using the following data: a. Interest revenue accrued, $100. b. Salaries (Selling) accrued, $3,200. Depreciation Expense-Equipment (Administrative), $1,340. d. Interest expense accrued, $1,200. A physical count inventory was completed. The ending Merchandise Inventory should have a balance of $45,600. Trundy estimates that approximately $9,000 of merchandise sold will be returned with a cost of $3,600. 2. Prepare Trundy Electronics' adjusted trial balance as of March 31, 2024. 3. Prepare Trundy Electronics' multi-step income statement for year ended March 31, 2024 e. 292,000 550 t. 147,000 27,000 15,000 5,300 10,600 Print Done $ 462,500 $ 462,500 Total ist or enter any number in the input fields and then click Check Answer. Year Ended March 31, 2024 Net Sales Revenue 283000 Cost of Goods Sold 143700 Gross Profit 139300 30200 15,000 45200 Operating Expenses: Selling Expenses: Salaries Expense (Selling) Rent Expense (Selling) Total Selling Expenses Administrative Expenses: Salaries Expense (Administrative) Utilities Expense (Administrative) Depreciation ExpenseEquipment (Administrative) Total Administrative Expenses 5,300 10,600 1,340 17,240 1,340 Depreciation ExpenseEquipment (Administrative) Total Administrative Expenses 17,240 62440 76860 Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue 100 Interest Expense (1,200) Total Other Income and (Expenses) Net Income (Loss)