u Review - Wildhorse Company's balance sheet at December 31, 2019, is presented below Cash Accounts receivable Allowance for doubtful accounts Inventory WINTER COMPANY Balance Sheet December 31, 2019 $14,800 Accounts payable 20,000 Owner's capital (800) 9,300 $43,300 $8,650 34,650 $43,300 During January 2020, the following transactions occurred. Wildhorse uses the perpetual inventory method. Jan. 1 3 8 11 15 Wildhorse accepted a 4-month, 8% note from Merando Company in payment of Merando's $4,200 account. Wildhorse wrote off as uncollectible the accounts of Inwood Corporation (5500) and Gora Company (100) Wildhorse purchased $18,600 of inventory on account. Wildhorse sold for $25,600 on account inventory that cost $17,200 Wildhorse sold inventory that cost $700 to Mark Lauber for $1,500. Lauber charged this amount on his Visa First Bank card. The service fee charged Wildhorse by First Bank 17 Wildhorse collected $21,900 from customers on account. 21 Wildhorse paid $16,400 on accounts payable. 24 Wildhorse received payment in full ($100) from Goza Company on the account written off on January 3. 27 Wildhorse purchased supplies for $1,450 cash. 31 Wildhorse paid other operating expenses, $3,400. Adjustment data: Interest is recorded for the month on the note from January 1. Bad debts are expected to be 6% of the January 31, 2020, accounts receivable. A count of supplies on January 31, 2020, reveals that $600 remains unused. o f transactions have and dusting entries. C ette MacBook Air CALCULATOR INTERVEN C K Prepare your talentines for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual system.) (Credit account thesare automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation (To record sales revenues.) To record cost of goods sold) to record sales revenues and service changes.) CALCULATOR PRINTER VERSION BACK NEXT (To record cost of goods sold.) (To reinstate the account previously written-off.) (To record the payment received.) (To record other operating expense.) CALCULATOR PRINTER VERSION BLACK To record other operating expense.) (To record interest revenue.) (To record bad debts expense.) (To record supplies expense.) LINK TO TEXT LINK TO TEXT Prepare an adjusted trial balance at January 31, 2020. WILDMORSE COMPANY Adjusted Trial Balance Debit Credit P etv ety RA j Prepare an adjusted trial balance at January 31, 2020. WILDHORSE COMPANY Adjusted Trial Balance Debit Credit Study MacBook Air Totals LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT udy Prepare an income statement. WILDHORSE COMPANY Income Statement WILDHORSE COMPANY Income Statement MacBook Air Prepare a owner's equity statement for the month ending January 31, 2020. WILDHORSE COMPANY Owner's Equity Statement LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Study Prepare a classified balance sheet as of January 31, 2020. (List current assets in order of liquid WILDHORSE COMPANY Balance Sheet Assets MacBook Air Balance Sheet Assets udy Liabilities and Owner's Equity MacBook Air