Use the tables to track your merchandise inventory for each of the lures. You will need to enter a beginning balance for the Williams Wablers that carried over from last month. The total value of these should equal your ending inventory balance in the Merchandise Inventory Account. Remember, the bait will be separately recorded in an During the second month of operations, Jodi decides to add another lure model, as well as offering bait sales. She will use the FIFO cost assumption under a perpetual system for each of the merchandise inventory items. For the bait inventory, she will use a periodic system and adjust cost of goods sold at the end of each month. Journal entry t Date of transaction June Transactions JE 14 June 1 JE 15 JE 16 JE 17 JE 18 JE 19 JE 20 JE 21 JE 22 JE 23 JE 24 JE 25 JE 26 JE 27 JE 28 JE 29 During its second month of operation, Jodi's Tackle Shop completed the following Record these transactions in the June Journal Entries tab. JE 30 June 2 June 2 June 3 June 4 June 4 June 7 June 9 June 9 June 10 June 10 June 14 June 15 June 15 June 15 June 16 June 17 Paid $800 for the June rent for the shop Paid remaining $50 on store supplies purchased last month Purchased $300 worth of minnows and wax worms for bait sales with cash Sold minnows to customers for $75 cash. Paid $2,400 to Williams Lure Co. for the inventory purchased in May. Purchased 20 lures (6" Pelican Spoons) for $12 each on credit from Pelican Lure Co. with terms 2/10, net 30. Paid helper for 5 hours of work for the past week in cash. Sold minnows and wax worms to customers for $80 cash. Sold 10 of the Pelican Spoons for $25 each, and 75 of the Williams Wablers Sold 30 of the Williams Wablers lures for $20 each to customers for cash. Purchase 30 more of the 6" Pelican Spoon lures for $14 each from Pelican Lure Sold 15 of the 6" Pelican Spoon lures to customers for $25 each for cash. Paid on account for Pelican Lures purchased on June 4. Sold minnows and wax worms for $60 cash. Paid helper for 10 hours of work for the past week in cash. Purchased fresh minnows and wax worms for $300 cash Sold minnows and wax worms for $40 cash. 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 Sold 25 of the Williams Wablers lures for $20 each to customers for cash. A customer ordered 75 of the Williams Wabler lures for $22 each, and paid a Purchased (on credit, terms 2/10, net 30) and received 200 Williams Wablers Sold minnows and wax worms for $70 cash. Paid $80 for June telephone bill Paid helper for 8 hours of work for the past week in cash. Customer picked up order for 75 Williams Wablers for $22 each, paying the Paid on account for the Pelican Lures purchase on June 10. Purchased 25 of the 6" Pelican Spoon lures for $12 each on credit, terms 2/10, Paid helper for 5 hours of work for the past week in cash. Sold minnows and wax worms to customers for $90 cash Sold 40 Williams Wabler lures for $20 each to customers for cash. Paid $60 for for June electric bill JE 44 Declared and paid $500 dividends ENTER THESE TRANSACTIONS ON THE NEXT TAB TITLED "June Journal Entries" JE 31 JE 32 JE 33 JE 34 JE 35 JE 36 JE 37 JE 38 JE 39 JE 40 JE 41 JE 42 JE 43 June 17 June 17 June 201 June 20 June 20 June 21 June 25 June 25 June 26 June 28 June 28 June 28 June 30 June 30 Merchandise Inventory for Williams Wablers Transactio Date Oty Balance 0$ Merchandise Inventory for Pelican Lures Value Transactio Date Balance Oty 0 Value