Question

During the month, the following transactions occurred for Trevor’s Supply Company.   The company uses the perpetual inventory...

During the month, the following transactions occurred for Trevor’s Supply Company.   The company uses the perpetual inventory method.

Dec. 1

Accepted a 4-month, 6% note from a customer in settlement of $12,400 account.

3

Wrote off as uncollectible specific accounts totaling $680.

8

Purchased $17,200 of inventory on account, terms 2/10, n/30.

11

Sold $25,000 of inventory that cost $17,500, terms 1/15, n/45.

12

Paid $13,750 for employee salaries.

15

Customers returned $8,000 of inventory sold on December 11th that cost $5,200.

17

Collected the balance due from the December 11th sale.

18

Paid the balance due on the December 8th purchase.

24

Received $370 on an account previously written off.

27

Purchased advertising supplies for $1,300 on account.

31

Paid freight on inventory sold, $3,218.

just need

Part E

Trial Balance

Account Name

Debits

Credits

Cash

Accounts Receivable

Allowance for Doubtful Accounts

Notes Receivable

Interest Receivable

Inventory

Adverting Supplies

Accounts Payable

Common Stock

Retained Earnings

Interest Income

Sales

Sales Discounts

Sales Returns and Allowances

Advertising Supplies Expense

Bad Debt Expense

Cost of Goods Sold

Freight-Out

Income Tax Expense

Interest Expense

Salary Expense

Totals

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