Step 1: Journalize and add the following adjusting entries in Adjustments

- An employee dropped and damaged merchandise that cost $100.

- Depreciation for the equipment was $84.

Step 2: Fill in Adjusted Trial Balance

Step 3: Post the account balances on the correct statement (income statement, balance sheet)

Step 4: Journalize and post the closing entries

ACCOUNT TITLES TRIAL BALANCE DEBT CREDIT 4317.00 ADJUSTMENTS DEBIT CREDIT ADJUSTED TRIAL BALANCE DEBIT CREDIT BALANCE SHEET INCOME STATEMENT CREDIT Accounts Receivable Merchandise inventory Supplies 2376.00 405.00 700000 2000.00 850.00 2100,00 3500.00 9225.00 TITUT 3750.00 Accumulated Depreciation Equipment Accounts Payable Wages Payable Note Payable Capital Drawing Sales Sales Returns Sales Discounts Cout of Merchandises Salaries Expense Supplies Expense Depreciation Eupense Mise Expense Freight Expense 15000 50 00 180000 210000l III 12.00 50.00 TOTAL 21435.0000 214250000