The T-accounts, along with their beginning balances have been opened for you. Post the December transactions to the general ledger accounts. (Note that customer and vendor names are not used for the General Ledger accounts.) Compute each account balance, and denote the balance as Bal. (For any accounts with a zero balance after closing, select a "Bal." reference and enter a "0" on the normal side of the account.) (Click the icon to view the journal entries you prepared above.) Reference Date Debit Credit Dec. 2 2,000 2,000 Dec. 5 5,600 5,600 Dec. 7 500 500 Dec. 9 5,600 Accounts and Explanation Merchandise Inventory Accounts PayableMr. Glow Purchased inventory on account. Merchandise Inventory Accounts PayableClean Machine Purchased inventory on account Accounts PayableMr. Glow Merchandise Inventory Returned inventory to seller (vendor). Accounts PayableClean Machine Merchandise Inventory Cash Paid within discount period. Accounts ReceivableMessy Maids Sales Revenue Sale on account Cost of Goods Sold Merchandise Inventory Recorded the cost of goods sold. Accounts PayableMr. Glow Merchandise Inventory Cash 216 5,384 Dec. 11 4,250 4,250 Dec. 11 1,250 1,250 Dec. 12 1,500 30 1,470 Paid within discount neriod Reference 1,470 4 Dec. 15 1,360 1,360 Dec. 15 400 400 Dec. 21 2,745 145 2,890 Cash Paid within discount period. Sales Returns and Allowances Accounts ReceivableMessy Maids Received returned goods Merchandise Inventory Cost of Goods Sold Placed goods back in inventory Cash Sales Discounts Accounts ReceivableMessy Maids Paid within discount period. Cash Sales Revenue Cash sale. Cost of Goods Sold Merchandise Inventory Recorded the cost of goods sold. Utilities Expense Cash Paid cash expenses. Sales Commissions Expense Cash Paid cash expenses. Dec. 28 6,930 6,930 Dec. 28 1,966 1,966 Dec. 29 300 300 Dec. 30 484 484 The T-accounts, along with their beginning balances have been opened for you. Post the December transactions to the general ledger accounts. (Note that customer and vendor names are not used for the General Ledger accounts.) Compute each account balance, and denote the balance as Bal. (For any accounts with a zero balance after closing, select a "Bal" reference and enter a "0" on the normal side of the account.) (Click the icon to view the journal entries you prepared above.) Cash Accounts Payable Service Revenue Bal. 88.400 2,950 Bal. O Bal. Accounts Receivable Unearned Revenue Sales Revenue Bal 2,200 34,500 Bal. 0 Bal. Merchandise Inventory Sales Returns and Allowances Salaries Payable 0 Bal. Bal. Bal. Windows'u Etkinletir Windows'u etkinletirmek iin Ayarlar'a gidin. Sales Discounts Cleaning Supplies 50 Interest Payable 140 Bal. Ball Bal. 0 Cost of Goods Sold Prepaid Rent 1,800 Notes Payable (Long-Term) 42,000 Bal Ball Bal. 0 Sales Commissions Expense Prepaid Insurance 2,750 Hanoush, Capital 32,425 Bal. Bal. Bal. 0 Equipment 7,100 Hanoush, Withdrawals 0 Utilities Expense 0 Bal. Bal. Bal. Truck Income Summary 0 Bal. Depreciation Expense 0 Bal. 10,000 Bal. Accum. Depr.-Equip. and Truck 285 Bal. Salaries Expense Bal. Insurance Expense 0 Bal. Rent Expense Bal. 0 Interest Expense Bal. 0 Reference Shine King Cleaning Post-Closing Trial Balance November 30, 2017 Balance Account Title Debit Credit Cash $ 88,400 Accounts Receivable 2,200 Cleaning Supplies 50 Prepaid Rent 1,800 Prepaid Insurance 2,750 Equipment 7,100 Truck 10,000 Accumulated Depreciation-Equipment and Truck S 285 Accounts Payable 2,950 Unearned Revenue 34,500 Interest Payable 140 Notes Payable (Long-term) 42,000 Hanoush, Capital 32,425 Total $ 112,300 $ 112,300 More info Dec. 2 Purchased 400 units of inventory for $2,000 on account from Mr. Glow, Co. on terms, 2/10, n/20. 5 Purchased 800 units of inventory from Clean Machine on account with terms 4/10, n/30. The total invoice was for $5,600, which included a $200 freight charge. 7 Returned 100 units of inventory to Mr. Glow from the December 2 purchase (cost $500). 9 Paid Clean Machine. 11 Sold 250 units of goods to Messy Maids for $4,250 on account with terms 5/10, n/30. Shine King's cost of the goods was $1,250. 12 Paid Mr. Glow. 15 Received 80 units with a retail price of $1,360 of goods back from customer Messy Maids. The goods cost Shine King $400. 21 Received payment from Messy Maids, settling the amount due in full. 28 Sold 330 units of goods to Allyson, Inc. for cash of $6,930 (cost $1,966). 29 Paid cash for utilities of $300. 30 Paid cash for Sales Commission Expense of $484. 31 Recorded the following adjusting entries: a. Physical count of inventory on December 31 showed 500 units of goods on hand, $3,365 b. Depreciation, $285 C. Accrued salaries expense of $600 d. Prepared all other adjustments necessary for December (Hint: You will need to review the adjustment information from November to determine the remaining adjustments). Assume the cleaning supplies left at December 31 are $50 Requirements 1. Journalize and post the December transactions. Compute each account balance, and denote the balance as Bal. Identify each accounts payable and accounts receivable with the vendor or customer name. 2. Journalize and post the adjusting entries. Denote each adjusting amount as Adj. Compute each account balance, and denote the balance as Bal. After posting all adjusting entries, prove the equality of debits and credits in the ledger 3. Prepare the December multi-step income statement, statement of owner's equity, and classified balance sheet for the company. List Service Revenue under gross profit, and ignore classifying the expenses as selling and administrative. 4. Journalize the December closing entries for the company. 5. Compute the gross profit percentage for the company