Using the information In the photos: 1) Record journal entries 2) Record required entries into T-accounts and prepare trial balance 3) prepare income statement, statement of equity, and balance sheet.

Transactions for January of 2020 1/3/2020 Paid interest payable plus $3,000 toward long term debt 1/2/2020 Paid salaries payable 1/3/2020 Purchased inventory (500 units at $46) on credit 1/4/2020 paid shipping on inventory of $250 1/6/2020 Purchased supplies on credit for $850 1/9/2020 Received $2,500 from customers for products to deliver in March 1/10/2020 sold 600 units on credit with a sales price of $105 (assume perpetual LIFO) 1/15/2020 Purchased inventory on account (700 units at $47) 1/20/2020 Paid $41,600 on accounts payable 1/21/2020 Collected $121,350 in cash from customers in payment for earlier sales 1/22/2020 Wrote off accounts receivable for $815 1/25/2020 sold 200 units on credit with a sales price of $105 (still perpetual LIFO) 1/26/2020 Paid wages to employees for work done in January $31,000 1/26/2020 Received utility bill for $7,200 for utilities used in January that will be paid in February 1/31/2020 Delivered 100 units of product to customers that they paid 10,000 for in 2019 (unearned revenue) 1/31/2020 counted supplies and found $1,240 remaining 1/31/2020 Employees worked and earned $4,700 in January that will not be paid until February 1/31/2020 Interest at 12% per year on the long term debt (new balance) has not been paid 1/31/2020 The prepaid insurance will last 4 months into 2020 before anew policy will be required 1/31/2020 The allowance for bad debts is estimated at 4% of tot al accounts receivable 1/31/2020 A count of inventory showed that 50 units were damaged such that they are worthless and will be thrown away Balance Sheet for end of 2019 Assets Cash Accounts Receivable (net of allowance of 7200) Inventory Prepaid Insurance Supplies Total Current Assets 77,250 237,884 45,500 (1000 unts at $45.50 each) 1,600 1,625 363,859 Property, Plant and Equipment, Net Land 177,500 32,000 Total sets 573,359 Liabilities Accounts Payable Unearned Revenue Inte et Payable Salaries Payable Total Current Liabilities 94,552 45,200 2,100 6,600 148,452 Long Term Debt 246,100 Total Liabilities 394,552 Capital Stock Retained Earnings 100,000 78,807 Total Liabilities and Stockholders Equity 573,359