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College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1 . The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that suppler. The inventory on December 1 consisted of 900 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.50. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method. During December, the company entered into the following transactions. Some of these transactions are explained in greater detail below a. Purchased 400 coasters on account from the regular supplier on 12/1 at a unit cost of $0.52, with terms of n/60. b. Purchased 1,000 coasters on account from the regular supplier on 12/2 at a unit cost of $0.55, with terms of n/60. c. Sold 1,900 coasters on account on 12/3 at a unit price of $1,10. d. Collected $870 from customers on account on 12/4 e. Paid the supplier $1,310 cash on account on 12/18. f Paid employees $480 on 12/23, of which $260 related to work done in November and $220 was for wages up to December 22 . g. Loaded 90 coasters on a cargo ship on 12/31 to be delivered the following week to a customer in Kona, Hawall, The sale was made FOB destination with terms of n/60. Other relevant information includes the following ot 12/31: h. College Coasters has not yet recorded $190 of office expenses incurred in December on account. 1. The company estimates that the equipment depreciates at a rate of $10 per month, One month of depreciation needs to be recorded. 1. Wages for the period from December 2331 are $100 and wilf be paid on January 15 . k. The $600 of Prepaid Rent relates to a six-month period ending on May 31 of next year. 1. The company incurred $800 of income tax but has made no tax payments this yeat. m. No shrinkage or damage was discovered when the inventory was counted on December 31 . n. The company did not dectare dividends and there were no transactions involving common stock. Ooner leievart informafon zeloses the followhig at 12/3t A. Colege Coasten has noh yet secoesed 5190 of otice expeness incured in December on account roconded. 1. Woses for the penod bom Decenber 233 t are $100 and aill be peid en jenury 7 4. The 5600 of Pepadd avere telues to a si mondi peribd ending on May 31 of nent year. 4. The chmenty incured 5600 of income tar bet has made no tax plymoents that yeat. m. No sbinknge of dasoge was derovered when the invertory was courted on December 31 . Use the dropdowns to select the accounts properfy inctuded on the balance sheet, the unadjisted, ac balances witi appear for each occount, based on your selection. However, you will need to enter the a (Pet of aceumuiated depreclation), Cemmon stock and Retained earnings as of December 31 . 2. Purchased 400 coasters on sccount from the regular supplier on 127 at anit cost of 5052 , with term a. Purchased 1,000 coasters on account fram the regular suppler on 1222 at a unit cost of 30.55 , with ter C. Sold 1900 coasters on account on 12/3 at a unit pice of 51.10 d. Collected $870 from customers on account on 12/4 : e. Paid the supplier $1,310 cash on account on 12/18. f Paid ersplayees $480 on 12/23, of which $260 related so work done in November and $220 was for w a Loaded 90 coasters on a cargo stip on 12/31 to be delivered the following week 10 a customer in Kona, Foe destination with lerms of nuo. Coner reiviont information includes the following at 12/31 : n. College Coasters has not yet recorded $190 of office expenses incurted in Decenber on account. LThe company estimatos that the equigment depreciates af a fathe of $10 per mosth. One month of depre recordcd. Wages for the pericd from December 23-3t are $100 and will be peid on Jaruery 15 . k. The 5600 of Prepald Rent relases to o six month period ending on May 3 of next year. CThe compary inciarted 8600 of income tax but has made no tax poyments thes year. m. No shrinkage ce damege Was discovered when the inventory was counted an Decemter 3t: a The compary did not dectare dividends and there were no toonssctions involing comberion stock. College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1 . The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that suppler. The inventory on December 1 consisted of 900 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.50. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method. During December, the company entered into the following transactions. Some of these transactions are explained in greater detail below a. Purchased 400 coasters on account from the regular supplier on 12/1 at a unit cost of $0.52, with terms of n/60. b. Purchased 1,000 coasters on account from the regular supplier on 12/2 at a unit cost of $0.55, with terms of n/60. c. Sold 1,900 coasters on account on 12/3 at a unit price of $1,10. d. Collected $870 from customers on account on 12/4 e. Paid the supplier $1,310 cash on account on 12/18. f Paid employees $480 on 12/23, of which $260 related to work done in November and $220 was for wages up to December 22 . g. Loaded 90 coasters on a cargo ship on 12/31 to be delivered the following week to a customer in Kona, Hawall, The sale was made FOB destination with terms of n/60. Other relevant information includes the following ot 12/31: h. College Coasters has not yet recorded $190 of office expenses incurred in December on account. 1. The company estimates that the equipment depreciates at a rate of $10 per month, One month of depreciation needs to be recorded. 1. Wages for the period from December 2331 are $100 and wilf be paid on January 15 . k. The $600 of Prepaid Rent relates to a six-month period ending on May 31 of next year. 1. The company incurred $800 of income tax but has made no tax payments this yeat. m. No shrinkage or damage was discovered when the inventory was counted on December 31 . n. The company did not dectare dividends and there were no transactions involving common stock. Ooner leievart informafon zeloses the followhig at 12/3t A. Colege Coasten has noh yet secoesed 5190 of otice expeness incured in December on account roconded. 1. Woses for the penod bom Decenber 233 t are $100 and aill be peid en jenury 7 4. The 5600 of Pepadd avere telues to a si mondi peribd ending on May 31 of nent year. 4. The chmenty incured 5600 of income tar bet has made no tax plymoents that yeat. m. No sbinknge of dasoge was derovered when the invertory was courted on December 31 . Use the dropdowns to select the accounts properfy inctuded on the balance sheet, the unadjisted, ac balances witi appear for each occount, based on your selection. However, you will need to enter the a (Pet of aceumuiated depreclation), Cemmon stock and Retained earnings as of December 31 . 2. Purchased 400 coasters on sccount from the regular supplier on 127 at anit cost of 5052 , with term a. Purchased 1,000 coasters on account fram the regular suppler on 1222 at a unit cost of 30.55 , with ter C. Sold 1900 coasters on account on 12/3 at a unit pice of 51.10 d. Collected $870 from customers on account on 12/4 : e. Paid the supplier $1,310 cash on account on 12/18. f Paid ersplayees $480 on 12/23, of which $260 related so work done in November and $220 was for w a Loaded 90 coasters on a cargo stip on 12/31 to be delivered the following week 10 a customer in Kona, Foe destination with lerms of nuo. Coner reiviont information includes the following at 12/31 : n. College Coasters has not yet recorded $190 of office expenses incurted in Decenber on account. LThe company estimatos that the equigment depreciates af a fathe of $10 per mosth. One month of depre recordcd. Wages for the pericd from December 23-3t are $100 and will be peid on Jaruery 15 . k. The 5600 of Prepald Rent relases to o six month period ending on May 3 of next year. CThe compary inciarted 8600 of income tax but has made no tax poyments thes year. m. No shrinkage ce damege Was discovered when the inventory was counted an Decemter 3t: a The compary did not dectare dividends and there were no toonssctions involing comberion stock