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Cash Problem: 1 The following information is available for Marshals for the year ended March 31, 2020: Marshals Trial Balance For the year ended March 31, 2020 Accounts payable $3000 Accounts receivable 7.500 Accumulated amortization, equipment 8,000 Advertising expense 3.500 Sales Discounts 300 1.100 Cost of goods sold 75,000 Equipment 76,110 Insurance expense 250 Interest expense 40 Jen Duncan, capital 32,300 Pen Duncan, withdrawals 1.100 Inventory 2.200 Notes payable" 6,000 Rent expense Rent payable 120 Salaries expense 120 Sales 120.000 Sales returns and allowances 1.500 Supplies 300 Supplies expense 40 100 Prepare a multiple-step income statement in good form for Marshals. Problem: 2 Prepare general journal entries to record these transactions, using a perpetual inventory system. Dee. Sold merchandise on credit for $7,000, cost $3,000 terms 1/10, 1/30. 3 Purchased merchandise for cash, S1,900. 4 Purchased merchandise on credit for $5,600, terms 2/10, n/30 s Issued a credit memorandum for $600 to a customer who returned merchandise purchased November 29, cost $400. M Received payment for merchandise sold December 1 us Received a credit memorandum for $600 for the return of faulty merchandise purchased on December 4. 18 Paid freight charges of $50 for merchandise ordered last month. 23 Paid for the merchandise purchased December 4 less merchandise retumed 24 Sold merchandise on credit for 59,000, terms 1/10 30 cost $6,500. 31 Received payment for merchandise sold on December 24

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