TRANSACTIONS

April 1 Sold fully depreciated cash register and point of sale system for $1,000 (originally recorded as store equipment)

April 1

A new point of sale system is delivered and installed at a total cost of $96,000. The system

The company made a downpayment of $50,000 and issued a 3-year 6% note for the balance.

Interest and 1/3 of the principal is due on March 31, 2024, 2025 and 2026.

April 15 Had a $200,000 balance in notes payable with 45-day 6% note issued on March 1.

Paid the interest due and refinanced the principle with a new 60 day note at 7%.

April 27 Petty cash on hand was $117. Replenished the petty cash fund for the following disbursements,

each evidenced by a petty cash receipt:

Store supplies, $51

Express charges on merchandise sold, $190 (Delivery Expense).

Office supplies, $75.

Repair to office file cabinet lock, $80 (Miscellaneous Administrative Expense).

April 30 Sold a 500,000 5 year bond, semi-annual interest at 6% when market interest rate was 8%

April 30 The cash sales for the month, according to the cash register records, totaled $27,525, including sales tax of $2,525. The actual cash received from these cash sales was $27,625. Cost of goods sold related to these sales was $13,360.

ADJUSTING ENTRIES

a) evaluation of the year sales indicated that warranty is related to current year sales were $50,000

b) the note receivable in the general ledger (50,000) is an 8% note received January 1, 2023 and due is on June 30, 2024

c) There are two notes in the notes payable balance (one from April 1st and one from April 15th. Interest rates and dates issued are in the transactions above. (Calculate interest separately but record together)

d) The insurance policy is an annual policy purchased on June 1, 2022.

e) Office upales on hand at April 30 were 52,500 and store supplies on hand were 55,051. Pacel +

F) Depreciation on the building is calculated using straight line with a 25 year life and $50,000 residual value.

g) Depreciation for the office equipment is calculated using double declining balance method, has a five year life and was purchased three years ago.

Information related to the depreciation calculation for the store equipment is in the transactions above.

h) Payroll for April is going to be paid in early May. Salaries earned were $40,000. The FICA rate is 7.65% and is paid by both the employee and the employer. Employee income taxes are withheld at a rate of 15%.

PLEASE HELP WITH JOUNALIZING THE ADJUSTING ENTRI