nny's Emporium had the following transactions in April, 2023, the final month in their fiscal year: TRANSACTIONS April 1 Sold fully depreciated cash register and point of sale system for $1,000 (originally recorded as store equipment) April 1 A new point of sale system is delivered and installed at a total cost of $96,000. The system has an expected useful life of 4 years, no residual value and will be depreciated using the straight line method. The company made a downpayment of $50,000 and issued a 3-year 6% note for the balance. Interest and 1/3 of the principal is due on March 31, 2024, 2025 and 2026. April 15 Had a $200,000 balance in notes payable with 45-day 6% note issued on March 1. Paid the interest due and refinanced the principle with a new 60 day note at 7%. April 27 Petty cash on hand was $117. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Store supplies, $51. Express charges on merchandise sold, $190 (Delivery Expense). Office supplies, $75. Repair to office file cabinet lock, $80 (Miscellaneous Administrative Expense). April 30 Sold a 500,000 5 year bond, semi-annual interest at 6% when market interest rate was 8% April 30 The cash sales for the month, according to the cash register records, totaled $27,525, including sales tax of $2,525. The actual cash received from these cash sales was $27,625. Cost of goods sold related to these sales was $13,360. Required: ROUND ALL CALCULATIONS TO THE WHOLE DOLLAR!!!! 1 Journalize the transactions and post them to the general ledger. Assume a 360 day year for all transactions related to interest calculations. 2 Complete the worksheet. The information you need for the adusting entries is: a Evaluation of the years sales indicated that warranties related to current years sales were $50,000. b The note receivable in the general ledger is an 8% note received January 1, 2023 and due is on June 30, 2024 c There are two notes in the notes payable balance (one from April 1st and one from April 15th. Interest rates and dates issued are in the transactions above. (Calculate interest separately but record together) d The insurance policy is an annual policy purchased on June 1, 2022. e Office supplies on hand at April 30 were $2,500 and store supplies on hand were $5,051. f Depreciation on the building is calculated using straight line with a 25 year life and $50,000 residual value. g Depreciation for the office equipment is calculated using double declining balance method, has a five year life and was purchased three years ago. Information related to the depreciation calculation for the store equipment is in the transactions above. h Payroll for April is going to be paid in early May. Salaries earned were $40,000. The FICA rate is 7.65% and is paid by both the employee and the employer. Employee income taxes are withheld at a rate of 15%. 3 Journalize and post the adjusting entries. 4 Prepare a multiple-step income statement. 5 Prepare a statement of stockholders equity. 6 Prepare a balance sheet. 7 Journalize and post the closing entries. 8 Prepare a post-closing trial balance