Wildhorse Co.s balance sheet at December 31, 2021, is presented below.

Wildhorse Co. Balance Sheet December 31, 2021
Cash		$13,240			Accounts payable		$8,520
Accounts receivable		20,600			Common stock		19,100
Allowance for doubtful accounts		(770)			Retained earnings		15,130
Inventory		9,680
		$42,750					$42,750

During January 2022, the following transactions occurred. Wildhorse uses the perpetual inventory method.

Jan. 1		Wildhorse accepted a 4-month, 8% note from Betheny Company in payment of Bethenys $1,200 account.
3		Wildhorse wrote off as uncollectible the accounts of Walter Corporation ($500) and Drake Company ($200).
8		Wildhorse purchased $15,940 of inventory on account.
11		Wildhorse sold for $23,900 on account inventory that cost $16,060.
15		Wildhorse sold inventory that cost $720 to Jack Rice for $1,000. Rice charged this amount on his Visa First Bank card. The service fee charged Wildhorse by First Bank is 3%.
17		Wildhorse collected $22,200 from customers on account.
21		Wildhorse paid $15,710 on accounts payable.
24		Wildhorse received payment in full ($200) from Drake Company on the account written off on January 3.
27		Wildhorse purchased advertising supplies for $1,380 cash.
31		Wildhorse paid other operating expenses, $3,450.

Adjustment data:

1.		Interest is recorded for the month on the note from January 1.
2.		Bad debts are expected to be 6% of the January 31, 2022, accounts receivable.
3.		A count of advertising supplies on January 31, 2022, reveals that $560 remains unused.
4.		The income tax rate is 30%. (Hint: Prepare the income statement up to Income before taxes and multiply by 30% to compute the amount; round to whole dollars.)

(You may want to set up T-accounts to determine ending balances.)

A) Prepare journal entries for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual inventory system.)

B)Prepare an adjusted trial balance at January 31, 2022.

C) Prepare an income statement for the month ending January 31, 2022.

D) Prepare a retained earnings statement for the month ending January 31, 2022.

E) Prepare a classified balance sheet as of January 31, 2022.

the Finarnce Data St CPR Communicatio... Onne HTML Editor G GBS 10th Floor Con Data Govemance ildhorse Co's balance sheet at December 31, 2021, Is presented below Wildhorse Co. Balance Sheet December 31, 2021 Cash Accounts payable $13.240 $8,520 Accounts recelvable Common stock 20,600 19.100 Allowance for doubtful accounts Retained earnings (770) 15.130 Inventory 9,680 $42,750 $42,750 During January 2022, the following transactions occurred. Wildhorse uses the perpetual inventory method Jan. Wildhorse accepted a 4-month, 8 % note from Betheny Company in payment of Betheny's $1,200 account ($500) and Drake Company ($200) 3 Wildhorse wrote off as uncollectible the accounts of Valter Corpo- 8 Wildhorse purchased $15.940 of Inventory on account. 11 Wildhorse sold for $23,900 on account inventory that cost $16,060. 15 Wildhorse sold inventory that cost $720 to Jack Rice for $1.000. Rice charged this amount on his Visa First Bank card The service fee charged Wildhorse by First Bank is 3% 17 Wildhorse collected $22.200 from customers on account 21 Wildhorse paid $15.710 on accounts payable. 24 Wildhorse recelved payment in full ($200) from Drake Company on the account written off on January 3 27 Wildhorse purchased advertising supplies for $1.380 cash 31 Wildhorse pald other operating expenses, $3450. Adjustment data 1. Interest is recorded for the month on the note from Januuary 1 2. Bad debts are expected to be 6% of the January 31, 2022, accounts receivable. 3. A count of advertising supplies on January 31, 2022, reveals that $560 remains unused. 4. The income tax rate is 30%, 04int: Prepare the income statement up to Income before taxes and multiply by 30% to compute the amount; round to whole dolars (You may want to set up Taccounts to determine ending balances) m Prepare journal entries for the transactions listed above and adusting entries (Incade entries for cost of poods sold using the perpetual inventory system)Round anwrs te 0 decinal plces e4 L250 Ot accnt manually Record jounal entries in the order presented in the problem Credit Debit Account Titles and Explanation Date Prepare an adjusted trial balance at January 31, 2022 (Round answers to 0 decimal places, eg. 1,250) WILDHORSE CO. Adjusted Trial Balance Debit Credit Totals eTextbook and Media Prepare journal entries for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual inventory system) (Round onswers h Account Titles and Explanation Date Debit Credit (To record sales revenues) to record cost of goods sold) (to recond sales reverues and service charges) (To record cost of goods sold) (To revene alowance for dobetul debts Prepare an income statement for the month ending January 31 2022. (Round answers to 0 decimal places eg 1,250 WILDHORSE CO. Income Statement etextbook and Media List of Accounts Prepare a retained earnings statement for the month ending January 31, 2022 (Round answers to 0 decimal places, e 1.250 WILDHORSE CO. Retained Eamings Statement Prepare a retained earnings statement for the month ending January 31, 2022. (Round answers to 0 decimal places, es 1.250) WILDHORSE CO. Retained Eamings Statement eTextbook and Media List of Accounts Prepare a clansified balance sheet as of January 31, 2022. (st Current Assets in order of liquidity Round answers to 0 decimal places, e4 1,250 WILDHORSE CO. Balance Sheet Assets Liabilities and Stockholders' Equity