The data needed for the adjustments on December 31 are as follows: a.-b. Ending merchandise Inventory,...

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The data needed for the adjustments on December 31 are as follows: a.-b. Ending merchandise Inventory, $68,750. c. Uncollectible accounts, 0.5 percent of net credit sales of $254,000. d. Supplies on hand December 31, $1,470. e. Expired Insurance, $2,090. f. Depreciation Expense-Equipment, $9,200. g. Accrued interest expense on notes payable, $1,225. h. Accrued salaries, $3,900. 1. Social Security Tax Payable (6.2 percent) and Medicare Tax Payable (1.45 percent) of accrued salaries. The following accounts had zero balances: Salaries Payable Interest Payable Income Summary Supplies Expense Insurance Expense Depreciation Expense-Equipment Uncollectible Accounts Expense Required: 1. Prepare a worksheet for the year ended December 31, 20X1. 2. Prepare a classified Income statement. The firm does not divide its operating expenses into selling and administrative expenses. 3. Prepare a statement of owner's equity. No additional Investments were made during the period. 4. Prepare a classified balance sheet. All notes payable are due within one year. 5. Journalize the adjusting entries. 6. Journalize the closing entries. 7. Journalize the reversing entries. Critical Thinking Problem 13.1 (Algo) Year-End Processing LO 13-1, 13-2, 13-3, 13-4, 13-5, 13-6, 13-7 Programs Plus is a retail firm that sells computer programs for home and business use. Programs Plus operates in a state with no sales tax. On December 31, 20X1, its general ledger contained the accounts and balances shown below: ACCOUNTS BALANCES Cash $ 24,280 Debit Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Allowance for Doubtful Accounts 35,600 Debit 140 Credit 71,375 Debit 7,640 Debit 4,180 Debit Equipment 43,000 Debit Accumulated Depreciation-Equipment 14,600 Credit 8,164 Credit Notes Payable Accounts Payable Social Security Tax Payable Medicare Tax Payable Yasser Tousson, Capital Yasser Tousson, Drawing Sales Sales Returns and Allowances Purchases Freight In Purchases Returns and Allowances Purchases Discounts Rent Expense Telephone Expense Salaries Expense Payroll Taxes Expense Interest Expense 8,300 Credit 1,010 Credit 220 Credit 102,620 Credit 50,000 Debit 532,980 Credit 13,200 Debit 322,130 Debit 4,500 Debit 8,945 Credit 34,470 Credit 23,500 Debit 2,614 Debit 101,000 Debit 8,200 Debit 230 Debit Analyze: By what percentage did the owner's capital account change in the period from January 1, 20X1, to December 31, 20X1? Complete this question entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Analyze Prepare a worksheet for the year ended December 31, 20X1. Note: Round your answers to 2 decimal places. Trial Balance Adjustments Year Ended December 31, 20X1 Adjusted Trial Balance Account Name Debit Credit Debit Credit Debit Cash $ 24,280.00 S 24,280.00 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies 35,600.00 35,600.00 Credit Income Statement Debit Balance Sheet Credit Debit Credit $ 24,280.00 35,600.00 140.00 1,270.00 1,410.00 71,375.00 7,640.00 68,750.00 71,375.00 68,750.00 71,375.00 6,170.00 1,470.00 1,470.00 Prepaid Insurance Equipment Accumulated depreciation-Equipment Notes Payable Accounts Payable Social Security Tax Payable Medicare Tax Payable 4,180.00 2,090.00 43,000.00 2,090.00 43,000.00 2,090.00 43,000.00 14,600.00 9,200.00 23,800.00 23,800.00 8,164.00 8,164.00 8,164.00 8,300.00 8,300.00 8,300.00 1,010.00 242.00 1,252.00 220.00 57.00 277.00 3,900.00 3,900.00 1,225.00 1,252.00 277.00 3,900.00 1,225.00 131,362.00 Salaries Payable Interest Payable Yasser Tousson, Capital 102,620.00 Yasser Tousson, Drawing 50,000.00 Income Summary Sales Sales Returns and Allowances Purchases Freight In Purchases Returns and Allowances Purchases Discounts Rent Expense 1,225.00 102,620.00 50,000.00 71,375.00 68,750.00 2,625.00 68,750.00 68,750.00 532,980.00 532,980.00 13,200.00 322,130.00 13,200.00 322,130.00 532,980.00 13,200.00 8,945.00 4,500.00 4,500.00 8,945.00 34,470.00 8,945.00 34,470.00 34,470.00 23,500.00 23,500.00 23,500.00 Telephone Expense 2,614.00 2,614.00 Salaries Expense 101,000.00 3,900.00 104,900.00 Payroll Taxes Expense 8,200.00 299.00 8,499.00 Interest Expense 230.00 1,225.00 1,455.00 Supplies Expense Insurance Expense Depreciation Expense-Equipment Uncollectible Accounts Expense Totals Net Income 6,170.00 6,170.00 2,090.00 2,090.00 9,200.00 1,270.00 9,200.00 1,270.00 $ 711,449.00 $ 711,449.00 $ 164,279.00 $ 164,279.00 $ 727,343.00 $ 727,343.00 2,614.00 104,900.00 8,499.00 1,455.00 6,170.00 2,090.00 9,200.00 1,270.00 1,270.00 $ 183,540.00 $ 705,878.00 $ 330,460.00 $ 24,280.00 522,338.00 306,180.00 $ 705,878.00 $ 705,878.00 $ 330,460.00 $ 330,460.00 < Required 1 Required 2 > Note: Round your answers to 2 decimal places. PROGRAM 8 PLUS Income Statement FOR THE YEAR ENDED DECEMBER $1, 201 Operating Revenue Sales Less: Sales returns and allowances Not sales Cost of goods sold Merchandise inventory, January 1, 200x1 Purchases 71,375.00 $ 322,130.00 Delivered Cost of Purchases $ 322,130.00 Purchases returns and allowances $ 8,945.00 Purchases discounts 34,470.00 43,415.00 Not Delivered Cost of Purchases Total merchandise available for sale Less: Merchandise inventory, December 31, 20x1 Cost of goods sold Gross profit on sales Operating Expenses Rent expense Telephone expense Salaries expense Payroll taxes expense Supplies expense Insurance expense Depreciation expense-Equipment Uncollectible accounts expense Total operating expenses 23,500.00 2,614.00 104,900.00 8,499.00 6,170.00 2,090.00 9,200.00 1,270.00 $532,980.00 13,200.00 $ 519,780.00 $ 278,715.00 350,090.00 68,750.00 281,340.00 $ 238,440.00 $ 158,243.00 80,197.00 Income from operations Other expenses Interest expense 1,455.00 Net income for year $ 78,742.00 Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Analyze Prepare a statement of owner's equity. No additional investments were made during the period. Note: Round your answers to 2 decimal place. PROGRAMS PLUS Statement of Owner's Equity FOR THE YEAR ENDED DECEMBER 31, 20X1 Yasser Tousson, Capital, January 1, 20X1 $ 102,620.00 Net income for year $ 78,742.00 Less: Withdrawals for year $ 50,000.00 Increase in capital $ 28,742.00 Yasser Tousson, Capital, December 31, 20X1 $ 131,362.00 < Required 2 Required 4 > Balance Sheet DECEMBER 31, 20X1 Assets Current Assets Cash Accounts receivable Less: Allowance for doubtful accounts Prepaid expenses Merchandise inventory Supplies Prepaid insurance $ 35,600.00 1,270.00 $ 68,750.00 $ 24,280.00 33,330.00 1,470.00 2,090.00 72,310.00 129,920.00 Total current assets Plant and equipment Equipment $ 43,000.00 Less: Accumulated depreciation 23,800.00 Total plant and equipment 19,200.00 Total Assets $ 149,120.00 Liability and Owner's Equity Current Liabilities Notes payable Accounts payable Social security tax payable Medicare tax payable Salaries payable Interest payable Total current liabilities Owner's Equity $ 8,164.00 8,300.00 1,252.00 277.00 3,900.00 1,225.00 23,118.00 Yasser Tousson, Capital Total Liabilities and owner's equity 131,382.00 $ 154,480.00 Journal entry worksheet 2 3 5 6 7 8 9 > Record the adjustment entry for beginning inventory. Note: Enter debits before credits. Transaction General Journal a. Income summary Debit 71,375.00 Credit Merchandise inventory 71,375.00 Record entry Clear entry View general journal Journal entry worksheet 2 Record the adjustment entry for ending inventory. Note: Enter debits before credits. 8 > Transaction General Journal b. Merchandise inventory Debit 68,750.00 Credit Income summary 68,750.00 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 7 Record the adjustment entry for uncollectible accounts expenses. Note: Enter debits before credits. 00 Transaction General Journal Debit Credit c. Uncollectible accounts expense 1,270.00 Allowance for doubtful accounts 1,270.00 Record entry Clear entry View general journal Journal entry worksheet < 2 3 5 6 7 00 8 Record the adjustment entry for supplies expense. Note: Enter debits before credits. 9 Transaction General Journal d. Supplies expense Debit 6,170.00 Credit Supplies 6,170.00 Record entry Clear entry View general journal Journal entry worksheet 5 6 8 9 Record the adjustment entry for expired insurance. Note: Enter debits before credits. Transaction General Journal Debit Credit e. Insurance expense 2,090.00 Prepaid insurance 2,090.00 Record entry Clear entry View general journal Journal entry worksheet > 3 6 8 Record the adjustment entry for Depreciation Expense-Equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit f. Depreciation expense-Equipment 9,200.00 Accumulated depreciation-Equipment 9,200.00 Record entry Clear entry View general journal < Required 4 Required 6 > Journal entry worksheet 3 5 8 Record the adjustment entry for Accrued interest expense. Note: Enter debits before credits. 7 8 Transaction General Journal Debit Credit g. Interest expense 1,225.00 Interest payable 1,225.00 Record entry Clear entry View general journal Required 4 Required 6 Journal entry worksheet > 2 3 4 5 7 8 00 Record the adjustment entry for Accrued salaries expense. Note: Enter debits before credits. g Transaction General Journal Debit Credit h. Salaries expense 3,900.00 Salaries payable 3,900.00 Record entry Clear entry View general Journal < Required 4 Required 6 > Journal entry worksheet > 2 3 4 5 7 00 8 9 100 Record the adjustment entry for Social Security Tax and Medicare Tax Payable. Note: Enter debits before credits. Transaction General Journal Debit Credit Payroll taxes expense 299.00 Medicare tax payable 242.00 Social security tax payable 57.00 Record entry Clear entry View general Journal Journal entry worksheet 1 2 3 Record the closing entry for revenue and other credit items. Note: Enter debits before credits. Date December General Journal Debit Credit Sales 532,980.00 31, 20X1 Purchases returns and allowances 8,945.00 Purchases discounts 34,470.00 Income summary 576,395.00 Record entry Clear entry View general journal Journal entry worksheet Record the closing entry for expenses and other debit items. Note: Enter debits before credits. Date December 31, 20X1 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the closing entry for the balance of income summary. Note: Enter debits before credits. Date December General Journal Debit Credit 31, 20X1 Income summary 78,742.00 Yasser Tousson, Capital 78,742.00 Record entry Clear entry View general journal Journal entry worksheet < Record the closing entry for the drawing account. Note: Enter debits before credits. Date December General Journal Debit Credit Yasser Tousson, Capital 50,000.00 31, 20X1 Yasser Tousson, Drawing 50,000.00 Record entry Clear entry View general Journal Journal entry worksheet 2 3 Record the first reversing entry required. Note: Enter debits before credits. Date January 1, 20x2 General Journal Debit Credit Interest payable 1,225.00 Interest expense 1,225.00 Record entry Clear entry View general journal < Required 6 Analyze > Journal entry worksheet < 1 2 3 Record the second reversing entry required. Note: Enter debits before credits. Date January 1, 20x2 General Journal Debit Credit Salaries payable 3,900.00 Salaries expense 3,900.00 Record entry Clear entry View general journal Journal entry worksheet < 2 3 Record the third reversing entry required. Note: Enter debits before credits. Date January 1, 20x2 General Journal Debit Credit Record entry Clear entry View general journal The data needed for the adjustments on December 31 are as follows: a.-b. Ending merchandise Inventory, $68,750. c. Uncollectible accounts, 0.5 percent of net credit sales of $254,000. d. Supplies on hand December 31, $1,470. e. Expired Insurance, $2,090. f. Depreciation Expense-Equipment, $9,200. g. Accrued interest expense on notes payable, $1,225. h. Accrued salaries, $3,900. 1. Social Security Tax Payable (6.2 percent) and Medicare Tax Payable (1.45 percent) of accrued salaries. The following accounts had zero balances: Salaries Payable Interest Payable Income Summary Supplies Expense Insurance Expense Depreciation Expense-Equipment Uncollectible Accounts Expense Required: 1. Prepare a worksheet for the year ended December 31, 20X1. 2. Prepare a classified Income statement. The firm does not divide its operating expenses into selling and administrative expenses. 3. Prepare a statement of owner's equity. No additional Investments were made during the period. 4. Prepare a classified balance sheet. All notes payable are due within one year. 5. Journalize the adjusting entries. 6. Journalize the closing entries. 7. Journalize the reversing entries. Critical Thinking Problem 13.1 (Algo) Year-End Processing LO 13-1, 13-2, 13-3, 13-4, 13-5, 13-6, 13-7 Programs Plus is a retail firm that sells computer programs for home and business use. Programs Plus operates in a state with no sales tax. On December 31, 20X1, its general ledger contained the accounts and balances shown below: ACCOUNTS BALANCES Cash $ 24,280 Debit Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Allowance for Doubtful Accounts 35,600 Debit 140 Credit 71,375 Debit 7,640 Debit 4,180 Debit Equipment 43,000 Debit Accumulated Depreciation-Equipment 14,600 Credit 8,164 Credit Notes Payable Accounts Payable Social Security Tax Payable Medicare Tax Payable Yasser Tousson, Capital Yasser Tousson, Drawing Sales Sales Returns and Allowances Purchases Freight In Purchases Returns and Allowances Purchases Discounts Rent Expense Telephone Expense Salaries Expense Payroll Taxes Expense Interest Expense 8,300 Credit 1,010 Credit 220 Credit 102,620 Credit 50,000 Debit 532,980 Credit 13,200 Debit 322,130 Debit 4,500 Debit 8,945 Credit 34,470 Credit 23,500 Debit 2,614 Debit 101,000 Debit 8,200 Debit 230 Debit Analyze: By what percentage did the owner's capital account change in the period from January 1, 20X1, to December 31, 20X1? Complete this question entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Analyze Prepare a worksheet for the year ended December 31, 20X1. Note: Round your answers to 2 decimal places. Trial Balance Adjustments Year Ended December 31, 20X1 Adjusted Trial Balance Account Name Debit Credit Debit Credit Debit Cash $ 24,280.00 S 24,280.00 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies 35,600.00 35,600.00 Credit Income Statement Debit Balance Sheet Credit Debit Credit $ 24,280.00 35,600.00 140.00 1,270.00 1,410.00 71,375.00 7,640.00 68,750.00 71,375.00 68,750.00 71,375.00 6,170.00 1,470.00 1,470.00 Prepaid Insurance Equipment Accumulated depreciation-Equipment Notes Payable Accounts Payable Social Security Tax Payable Medicare Tax Payable 4,180.00 2,090.00 43,000.00 2,090.00 43,000.00 2,090.00 43,000.00 14,600.00 9,200.00 23,800.00 23,800.00 8,164.00 8,164.00 8,164.00 8,300.00 8,300.00 8,300.00 1,010.00 242.00 1,252.00 220.00 57.00 277.00 3,900.00 3,900.00 1,225.00 1,252.00 277.00 3,900.00 1,225.00 131,362.00 Salaries Payable Interest Payable Yasser Tousson, Capital 102,620.00 Yasser Tousson, Drawing 50,000.00 Income Summary Sales Sales Returns and Allowances Purchases Freight In Purchases Returns and Allowances Purchases Discounts Rent Expense 1,225.00 102,620.00 50,000.00 71,375.00 68,750.00 2,625.00 68,750.00 68,750.00 532,980.00 532,980.00 13,200.00 322,130.00 13,200.00 322,130.00 532,980.00 13,200.00 8,945.00 4,500.00 4,500.00 8,945.00 34,470.00 8,945.00 34,470.00 34,470.00 23,500.00 23,500.00 23,500.00 Telephone Expense 2,614.00 2,614.00 Salaries Expense 101,000.00 3,900.00 104,900.00 Payroll Taxes Expense 8,200.00 299.00 8,499.00 Interest Expense 230.00 1,225.00 1,455.00 Supplies Expense Insurance Expense Depreciation Expense-Equipment Uncollectible Accounts Expense Totals Net Income 6,170.00 6,170.00 2,090.00 2,090.00 9,200.00 1,270.00 9,200.00 1,270.00 $ 711,449.00 $ 711,449.00 $ 164,279.00 $ 164,279.00 $ 727,343.00 $ 727,343.00 2,614.00 104,900.00 8,499.00 1,455.00 6,170.00 2,090.00 9,200.00 1,270.00 1,270.00 $ 183,540.00 $ 705,878.00 $ 330,460.00 $ 24,280.00 522,338.00 306,180.00 $ 705,878.00 $ 705,878.00 $ 330,460.00 $ 330,460.00 < Required 1 Required 2 > Note: Round your answers to 2 decimal places. PROGRAM 8 PLUS Income Statement FOR THE YEAR ENDED DECEMBER $1, 201 Operating Revenue Sales Less: Sales returns and allowances Not sales Cost of goods sold Merchandise inventory, January 1, 200x1 Purchases 71,375.00 $ 322,130.00 Delivered Cost of Purchases $ 322,130.00 Purchases returns and allowances $ 8,945.00 Purchases discounts 34,470.00 43,415.00 Not Delivered Cost of Purchases Total merchandise available for sale Less: Merchandise inventory, December 31, 20x1 Cost of goods sold Gross profit on sales Operating Expenses Rent expense Telephone expense Salaries expense Payroll taxes expense Supplies expense Insurance expense Depreciation expense-Equipment Uncollectible accounts expense Total operating expenses 23,500.00 2,614.00 104,900.00 8,499.00 6,170.00 2,090.00 9,200.00 1,270.00 $532,980.00 13,200.00 $ 519,780.00 $ 278,715.00 350,090.00 68,750.00 281,340.00 $ 238,440.00 $ 158,243.00 80,197.00 Income from operations Other expenses Interest expense 1,455.00 Net income for year $ 78,742.00 Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Analyze Prepare a statement of owner's equity. No additional investments were made during the period. Note: Round your answers to 2 decimal place. PROGRAMS PLUS Statement of Owner's Equity FOR THE YEAR ENDED DECEMBER 31, 20X1 Yasser Tousson, Capital, January 1, 20X1 $ 102,620.00 Net income for year $ 78,742.00 Less: Withdrawals for year $ 50,000.00 Increase in capital $ 28,742.00 Yasser Tousson, Capital, December 31, 20X1 $ 131,362.00 < Required 2 Required 4 > Balance Sheet DECEMBER 31, 20X1 Assets Current Assets Cash Accounts receivable Less: Allowance for doubtful accounts Prepaid expenses Merchandise inventory Supplies Prepaid insurance $ 35,600.00 1,270.00 $ 68,750.00 $ 24,280.00 33,330.00 1,470.00 2,090.00 72,310.00 129,920.00 Total current assets Plant and equipment Equipment $ 43,000.00 Less: Accumulated depreciation 23,800.00 Total plant and equipment 19,200.00 Total Assets $ 149,120.00 Liability and Owner's Equity Current Liabilities Notes payable Accounts payable Social security tax payable Medicare tax payable Salaries payable Interest payable Total current liabilities Owner's Equity $ 8,164.00 8,300.00 1,252.00 277.00 3,900.00 1,225.00 23,118.00 Yasser Tousson, Capital Total Liabilities and owner's equity 131,382.00 $ 154,480.00 Journal entry worksheet 2 3 5 6 7 8 9 > Record the adjustment entry for beginning inventory. Note: Enter debits before credits. Transaction General Journal a. Income summary Debit 71,375.00 Credit Merchandise inventory 71,375.00 Record entry Clear entry View general journal Journal entry worksheet 2 Record the adjustment entry for ending inventory. Note: Enter debits before credits. 8 > Transaction General Journal b. Merchandise inventory Debit 68,750.00 Credit Income summary 68,750.00 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 7 Record the adjustment entry for uncollectible accounts expenses. Note: Enter debits before credits. 00 Transaction General Journal Debit Credit c. Uncollectible accounts expense 1,270.00 Allowance for doubtful accounts 1,270.00 Record entry Clear entry View general journal Journal entry worksheet < 2 3 5 6 7 00 8 Record the adjustment entry for supplies expense. Note: Enter debits before credits. 9 Transaction General Journal d. Supplies expense Debit 6,170.00 Credit Supplies 6,170.00 Record entry Clear entry View general journal Journal entry worksheet 5 6 8 9 Record the adjustment entry for expired insurance. Note: Enter debits before credits. Transaction General Journal Debit Credit e. Insurance expense 2,090.00 Prepaid insurance 2,090.00 Record entry Clear entry View general journal Journal entry worksheet > 3 6 8 Record the adjustment entry for Depreciation Expense-Equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit f. Depreciation expense-Equipment 9,200.00 Accumulated depreciation-Equipment 9,200.00 Record entry Clear entry View general journal < Required 4 Required 6 > Journal entry worksheet 3 5 8 Record the adjustment entry for Accrued interest expense. Note: Enter debits before credits. 7 8 Transaction General Journal Debit Credit g. Interest expense 1,225.00 Interest payable 1,225.00 Record entry Clear entry View general journal Required 4 Required 6 Journal entry worksheet > 2 3 4 5 7 8 00 Record the adjustment entry for Accrued salaries expense. Note: Enter debits before credits. g Transaction General Journal Debit Credit h. Salaries expense 3,900.00 Salaries payable 3,900.00 Record entry Clear entry View general Journal < Required 4 Required 6 > Journal entry worksheet > 2 3 4 5 7 00 8 9 100 Record the adjustment entry for Social Security Tax and Medicare Tax Payable. Note: Enter debits before credits. Transaction General Journal Debit Credit Payroll taxes expense 299.00 Medicare tax payable 242.00 Social security tax payable 57.00 Record entry Clear entry View general Journal Journal entry worksheet 1 2 3 Record the closing entry for revenue and other credit items. Note: Enter debits before credits. Date December General Journal Debit Credit Sales 532,980.00 31, 20X1 Purchases returns and allowances 8,945.00 Purchases discounts 34,470.00 Income summary 576,395.00 Record entry Clear entry View general journal Journal entry worksheet Record the closing entry for expenses and other debit items. Note: Enter debits before credits. Date December 31, 20X1 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the closing entry for the balance of income summary. Note: Enter debits before credits. Date December General Journal Debit Credit 31, 20X1 Income summary 78,742.00 Yasser Tousson, Capital 78,742.00 Record entry Clear entry View general journal Journal entry worksheet < Record the closing entry for the drawing account. Note: Enter debits before credits. Date December General Journal Debit Credit Yasser Tousson, Capital 50,000.00 31, 20X1 Yasser Tousson, Drawing 50,000.00 Record entry Clear entry View general Journal Journal entry worksheet 2 3 Record the first reversing entry required. Note: Enter debits before credits. Date January 1, 20x2 General Journal Debit Credit Interest payable 1,225.00 Interest expense 1,225.00 Record entry Clear entry View general journal < Required 6 Analyze > Journal entry worksheet < 1 2 3 Record the second reversing entry required. Note: Enter debits before credits. Date January 1, 20x2 General Journal Debit Credit Salaries payable 3,900.00 Salaries expense 3,900.00 Record entry Clear entry View general journal Journal entry worksheet < 2 3 Record the third reversing entry required. Note: Enter debits before credits. Date January 1, 20x2 General Journal Debit Credit Record entry Clear entry View general journal