Teu lidt meets the company s objectives. 17.5 The trail balance of Bright Star Traders contained the following accounts at June 30, The end of accounting period: Trail Balance Accounts Titles Dr (Tk.) Cr (Tk.) Owners capital 2,10,000 Drawings 14,000 Accounts payable 99,000 Notes Payable 1,00,000 Cash 51,800 Accounts Receivable 63,000 Merchandise inventory 89,000 Stores equipment 1,70,000 Accumulated Depreciation - Store Equipment 35,000 Delivery equipment 96,000 Accumulated Depreciation- Delivery Equipment 13,000 Sales 15,24,500 Cost of goods sold 9,92,300 Sales return and allowances 17,400 Delivery expenses 33,000 Repair expenses 24,200 Rent expenses 48,000 Insurance expenses 9,200 Advertising expenses 52,800 Salaries 2,80,000 Utilities 28,000 Stores Supplies 12,800 Total= 19,81,500 19,81,500 Adjustment data: a) Merchandise inventory value Tk. 88,300; b) Store supplies on hand Tk. 2,750; c) Unexpired insurance Tk.-2,300; d) Outstanding salaries Tk. 20,000 (selling dept); e) Interest accrued Tk. 5,000; f) Depreciation: Tk. 24,000 on delivery equipment; Tk. 17,500 on store equipment; g) Travelling expenses approved but not paid Tk. 15,000. Other Data: a) Repair, Rent & Utility expenses 70% selling & 30% Administrative; b) Salaries 55% administrative & 45% selling; c) Tk. 30,000 of notes payable are due for payment in next year. Required: i) Multiple- step Income Statement and Classified Balance Sheet; ii) Journalize the adjusting and closing entry. e entrega