The following transactions occurred during Year 2 in the order shown (use the number at the left in place of a date).

1. Sales revenue was $36,000, of which $12,000 was on credit; the cost of goods sold, provided using perpetual inventory, was $23,400.

2. Collected $20,400 cash on accounts receivable.

3. Paid $4,800 cash toward income taxes payable (for Year 1).

4. Purchased $48,000 of merchandise, of which $9,600 was on credit.

5. Paid $7,200 cash toward accounts payable.

6. Sales revenue was $86,400 (in cash); cost was $56,160.

7. Paid $22,800 cash in operating expenses.

8. On July 1, Year 2, issued 1,200 shares of common stock, par $1, for $1,200 cash.

9. Purchased $120,000 of merchandise, of which $32,400 was on credit.

10. Sales revenue was $117,600, of which $36,000 was on credit; cost of goods sold, $76,440.

11. Collected $31,200 cash toward accounts receivable.

12. Paid $33,600 cash toward accounts payable.

13. Paid $21,600 cash for various operating expenses.

• Journal Entries
• T-Accounts
• Unadjusted Trial Balance
• Adjusting Journal Entries
• T-Acounts after Adjusting Journal Entries
• Adjusted Trial Balance
• Financial Statements
• Closing Journal Entries
• T-Accounts After Closing Journal Entries
• Post-Closing Trial Balance