Sassafras Sis, Ine Chart of Accounts 1 Ant Income Statement Account 11 Catch 13 Accele Debit 1 Revenues Ced 13 Supplies 14 Prepaid Daba 15 Office Coupe Debih Spe Det Debit 16 Acoum. Depreciation of 2 Liabilities 21 Accounts Payale Crede 22 Accrual Detail) 2 Unearned even Crede Creat 3 Stockholders' Equity 31 Common Stock Credit 32 Retained Gaming Credit 33 Dividende Debit Sassafras Sis, Ine la a pool design from based in Orona, Horida. Sed on the following fact potter complete the entire accounting eyde case study for May. 2000. 1 Record the following entries for the month of Mary in the General Journal (1) 11 and 12 May 1 Invested $25,000 cash in exharge for Common Stock 1 Paid cash $1,200 for 12 month insurance policy 3 Pald cash for various expenses $3,000 5 Purchased supplies $2,000 on account. 10 Paid cash for office equipment $3,600 17 Paid $1.000 cash to creditor 20 Revenue from designing several pools $12,000. Received 57.000 cash, remainder on account 22 Received $900 cash from customer for future work 24 Received $1,000 cash from customer paying down account 25 Social media "likesexceed 5000. Marketing anticipates a sales bump of Si per le 30 Board of Directors declared and paid cash Dividend $1,000 EXCLUDE THE DESCRIPTION ALWAYS LEAVE A SPACE BETWEEN SEPARATE TRANSACTIONS 2 Post to General Ledger (GU 3 Produce the Unadjusted Trial Balance Entry Type 4 Record Adjusting Entries on Journal Page 3 Periodic Inventory expense May 31 Supplies on hand at month and $250 Estimated Expense 31 Office Equipment Depreciates staright line over 3 years Deferred Expense (You Prepaid an expense) 31 Record insurance expense for month end Deferred Revenue (Customer Prepaid you) 31 Earned $300 of Unearned Revenue Accrued Revenue 31 Flve hours design work on long term contract, $100 per hour Accrued Expense 31 Record tax expense. Tax rate 40% 5 Post Adjusting Entries to the General Ledger (1) 6 Produce the Adjusted Trial Balance 7 Produce an income Statement, Retained Earnings Statement and Balance Sheet 8 Record on Journal Page 4 the dosing of all temporary accounts directly into Retained Earnings 10 Post to General Ledger (GU) 11 Produce the Post Closing Trial Balance