The Oriole Shop, owned by Andrew John, sells skateboards in the summer and snowboards in the winter. The shop has an August 31 fiscal year end, and uses a perpetual inventory system and the earnings approach. On August 1, 2021, the company had the following balances in its general ledger:

Cash		$21,385		A. John, Drawings		$52,800
Merchandise inventory		64,125		Sales		485,500
Supplies		3,750		Rent revenue		1,200
Equipment		70,800		Sales returns and allowances		11,420
Accumulated depreciation-equipment		13,275		Cost of goods sold		301,010
Accounts payable		12,650		Salaries expense		68,200
Unearned revenue		4,680		Rent expense		18,150
Notes payable		42,000		Insurance expense		4,140
A. John, capital		58,400		Interest expense		1,925

During August, the last month of the fiscal year, the company had the following transactions:

Aug. 1		Paid $1,650 for August's rent.
2		Paid $6,500 of the amount included in Accounts Payable.
4		Sold merchandise costing $7,900 for $12,190 cash.
5		Purchased merchandise on account from Orange Line Co., n/30, FOB shipping point, for $23,600.
5		Paid freight charges of $640 on merchandise purchased from Orange Line Co.
8		Purchased supplies on account for $360.
9		Refunded a customer $425 cash for returned merchandise. The merchandise had cost $270 and was returned to inventory.
10		Sold merchandise on account to Spider Company for $15,850, terms 2/10, n/30, FOB shipping point. The merchandise had a cost of $9,655.
11		Paid Orange Line Co. for half of the merchandise purchased on August 5.
12		Spider Company returned $750 of the merchandise it purchased. Oriole Shop issued Spider a credit to its account. The merchandise had a cost of $466 and was returned to inventory.
15		Paid salaries, $3,100.
19		Spider Company paid the amount owing.
21		Purchased $10,100 of merchandise from Rainbow Option Co. on account, terms 2/10, n/30, FOB destination.
23		Returned $800 of the merchandise to Rainbow Option Co. and received a credit on the account.
24		Received $526 cash in advance from customers for merchandise to be delivered in September.
30		Paid salaries, $3,100.
30		Paid Rainbow Option Co. the amount owing.
31		Andrew John withdrew $5,000 cash.

Adjustment and additional data:

1.		A count of supplies on August 31 shows $755 on hand.
2.		The equipment has an estimated eight-year useful life. Remember that adjusting entries are done annually, not monthly.
3.		Of the notes payable, $6,000 must be paid on September 1 each year.
4.		(1) An analysis of the Unearned Revenue account shows that $3,750 has been earned by August 31. (2) A corresponding entry of $2,325 for Cost of Goods Sold will also need to be recorded for these sales.
5.		Interest accrued on the note payable to August 31 was $175.
6.		A count of the merchandise inventory on August 31 shows $76,560 of inventory on hand.

Record the adjustments required on August 31, 2021.

Prepare a post-closing trial balance at August 31, 2021