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You are only allowed to work with your group members and your professor. No tutors or other groups. 15. If oftice supplies valued at $300 were on hand at the beginning of the month, what were the total purchases of office supplies during the month? 16. What was the beginning balance of the Allowance for Doubtrul Accounts? 17. Were any cash dividends paid during the month? If so, bow much ? 18. Will the change in retained earnings for the month be greater than, less than, of equal to net income? 19. Assume that the company did a count of ending inventory and found that they had $70,000 of inventory remaining at the end of July. What is the cost of goods sold for the month of July? 20. Provide the journal entry to adjust inventory at July 31. Good journal entry format is required. 21. What was the net income for the month? Prepare an abbreviated income statement to superim wan. work. The adjusted trial balance of Fargo Conpany as of July 31, 2022 is presented below, (Read that again, think about what that means about where Fargo is in the accounting cycle.) Notice that the total debits and credits for each account are indicated (iocloding the beginning balances) rather thin the usual account balance. For ecample, the cash accoont had transactions which resulted in a total of $67,900 debits (ineluding the beginning balance) and a total of $59,600 credits. All adjusting entries have beco made for the month of July 2022 , except the adjustment for inventory. Fargo's fiscal year end is June 30

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