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e. In early July, a customer paid $600 in advance for a refinist amounts due but not yet billed, one-half complete. E3-35. Preparing Accounting Adjustments and Posting Refer to the information in E3-34. Prepare adjusting journal entries for each transaction. Set up T-accounts for each of the ledger accounts, and post the journal entries to them. E3-36. Inferring Transactions from Financial Statements The GAP is a global clothing retailer for men, women, children, and babies. The following information is taken from The Gap's annual report for the fiscal year ended February 2, 2019. a. The Gap purchased inventories totaling $10,392 for the fiscal year ended February 2, 2019. Use the financial statement effects template to record cost of goods sold for The Gap's fiscal year ended February 2, 2019. (Assume accounts payable is used only for recording purchases of inventories and all inventorics are purchased on credit.) b. What amount did the company pay to suppliers during the year? Record this with the financial statement effects template. E3-37. Inferring Transactions and Preparing Journal Entries Refer to the information in E3-36. Prepare journal entries for each transaction. E3-38. Preparing Closing Journal Entries The following selected accounts appear in The GAP Inc. 's financial statements for the fiscal year ended February 2, 2019

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