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Comprehensive Problem 2 Part 4 and 6: Note: You must complete parts 1, 2 and 3 before attempting to complete part 4 and part 6. Part 5 is an optional work she 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete Part 6. 5570,000 12,000 4,000 a. Inventory on May 31 b. Insurance expired during the year Store supplies on hand on May 31 d. Depreciation for the current year e, Accrued salaries on May 31: Sales salanes Office salaries 14.000 57.000 6,600 13.600 f. The adjustment for customer returns and allowances is $60,000 for sales and 585,000 for cost of goods sold. 6. Journalize the adjusting entries. If an amount bost does not require an entry leave it blank Post the adjusting entries to th Post. Date Description Debit Credit Ref. Adjusting Entries 2016 May 31 Cost of Goods Sold 13,950 Inventory 13,950 May 31 insurance Expense 12.000 Prepaid Insurance 12.000 May 31 Store Supplies Expense 2.400 M Store Supplies 17.400 Jenaze the adsm cum amount bus donne mature anuntry, leave it blank. Poset the adjust LE G dit 13.950 13,950 100U 12,000 Perpadla 400 MAY 31 Slupesuppe bouge 400 Store Supplies Deprecat 15, May Aula Dulalone on 14.000 M3 Salam se LUDO Ollica San BU Sabile Io ple onder mos KAMERA AM MARIA Comprehensive Problem 2 Part 4 and 6: Note: You must complete parts 1, 2 and 3 before attempting to complete part 4 and part 6. Part 5 is an optional work she 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete Part 6. 5570,000 12,000 4,000 a. Inventory on May 31 b. Insurance expired during the year Store supplies on hand on May 31 d. Depreciation for the current year e, Accrued salaries on May 31: Sales salanes Office salaries 14.000 57.000 6,600 13.600 f. The adjustment for customer returns and allowances is $60,000 for sales and 585,000 for cost of goods sold. 6. Journalize the adjusting entries. If an amount bost does not require an entry leave it blank Post the adjusting entries to th Post. Date Description Debit Credit Ref. Adjusting Entries 2016 May 31 Cost of Goods Sold 13,950 Inventory 13,950 May 31 insurance Expense 12.000 Prepaid Insurance 12.000 May 31 Store Supplies Expense 2.400 M Store Supplies 17.400 Jenaze the adsm cum amount bus donne mature anuntry, leave it blank. Poset the adjust LE G dit 13.950 13,950 100U 12,000 Perpadla 400 MAY 31 Slupesuppe bouge 400 Store Supplies Deprecat 15, May Aula Dulalone on 14.000 M3 Salam se LUDO Ollica San BU Sabile Io ple onder mos KAMERA AM MARIA

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