Taylor Electronics Company uses a perpetual inventory system. The unadjusted trial balance for Taylor Electronics Company at March 31, 2024, follows: (Click the icon to view the unadjusted trial balance.) Read the requirements. Requirement 1. Journalize the adjusting entries using the following data: (Record debits first, then credits. Select the explanation on the las line of the joumal entry table.) a. Interest revenue accrued $600. Taylor Electronics Company uses a perpetual inventory system. The unadjusted trial balance for Taylor Electronics Company at b. Salaries (Selling) accrued, $2,700. c. Depreciation Expense-Equipment (Administrative), $1,310. Taylor Electronics Company uses a perpetual inventory system. The unadjusted trial balance for Taylor Electronics Company at d. Interest expense accrued, $1,600. t. Taylor estimates that approximately $8,500 of merchandise sold will be returned with a cost of $5,100. (1) Begin by preparing the entry for the estimated refunds. Do not prepare the entry to record the estimated return of merchandise with th entry. We will do that in the following step. (2) Prepare the entry for the estimated return of merchandise. Requirement 2. Prepare Taylor Electronics' adjusted trial balance as of March 31, 2024. Review the adjusting entries you prepared in Requirement 1. Requirement 3. Prepare Taylor Electronics' multi-step income statement for year ended March 31, 2024. (Enter Selling Expenses before Administrative Expenses. Use a minus sign or parentheses to show other expenses.) Review the adjusted trial balance from Requirement 2. Taylor Electronics Company Unadjusted Trial Balance March 31, 2024 \begin{tabular}{lcc} & \multicolumn{2}{c}{ March 31, 2024} \\ & \multicolumn{2}{c}{ Balance } \\ Account Title & Debit & Credit \\ Cash & $,000 \\ Accounts Receivable & 35,400 \\ Merchandise Inventory & 46,900 \\ Office Supplies & 5,500 \\ Equipment & 131,000 \end{tabular} \begin{tabular}{|lrr|} \hline Equipment & 131,000 & \\ \hline Accumulated Depreciation-Equipment & $37,900 \\ \hline Accounts Payable & 16,700 \\ \hline Unearned Revenue & 13,000 \\ \hline Notes Payable, long-term & 45,000 \\ \hline Taylor, Capital & 51,050 \\ \hline Taylor, Withdrawals & \\ \hline Sales Revenue & 24,000 & \\ \hline Sales Discounts Forfeited & 290,000 \\ \hline Cost of Goods Sold & 850 \\ \hline \end{tabular} Data table Requirements 1. Jeumalize the affusing entries uiling the following data: a. Interest revenue accrued, 5000 . b. Salaries (Selling) accrund, $2.700. c. Degrecaton Expente-Equipmont (Administrative), $1,310, a. Interest expense acorved, $1,000. - A phyicel count of inventory was completed. The ending Merchandise invertary ahisuld have a balanoe of $46,100. 1. Tapior eitmstes that approximataly 58,500 of merchandise sold will be retimed with a cost of 85,100 3. Prepave Tavor Electronica' mulishep income statement for yeer ended March 31, 2024 or Electronics Company at March 31, 20
