Question

1. Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank

   Palisade Creek Co. Unadjusted Trial Balance May 31, 2019
   	Debit Balances	Credit Balances
   Cash
   Accounts Receivable
   Merchandise Inventory
   Estimated Returns Inventory
   Prepaid Insurance
   Store Supplies
   Store Equipment
   Accumulated Depreciation—Store Equipment
   Accounts Payable
   Customer Refunds Payable
   Salaries Payable
   Lynn Tolley, Capital
   Lynn Tolley, Drawing
   Sales
   Cost of Merchandise Sold
   Sales Salaries Expense
   Advertising Expense
   Depreciation Expense
   Store Supplies Expense
   Miscellaneous Selling Expense
   Office Salaries Expense
   Rent Expense
   Insurance Expense
   Miscellaneous Administrative Expense

Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. as of May 1, 2019 (unless otherwise indicated), are as follows:

110	Cash	$83,600
112	Accounts Receivable	233,900
115	Merchandise Inventory	624,400
116	Estimated Returns Inventory	28,000
117	Prepaid Insurance	16,800
118	Store Supplies	11,400
123	Store Equipment	569,500
124	Accumulated Depreciation—Store Equipment	56,700
210	Accounts Payable	96,600
211	Customer Refunds Payable	50,000
212	Salaries Payable	—
310	Lynn Tolley, Capital, June 1, 2018	685,300
311	Lynn Tolley, Drawing	135,000
410	Sales	5,069,000
510	Cost of Merchandise Sold	2,823,000
520	Sales Salaries Expense	664,800
521	Advertising Expense	281,000
522	Depreciation Expense	—
523	Store Supplies Expense	—
529	Miscellaneous Selling Expense	12,600
530	Office Salaries Expense	382,100
531	Rent Expense	83,700
532	Insurance Expense	—
539	Miscellaneous Administrative Expense	7,800

Answer 1

Palisade Creek Co.
Unadjusted Trial Balance
31-May-19
	Debit Balances	Credit Balances
Cash	83,600
Accounts Receivable	233,900
Merchandise Inventory	624,400
Estimated Returns Inventory	28,000
Prepaid Insurance	16,800
Store Supplies	11,400
Store Equipment	569,500
Accumulated Depreciation—Store Equipment		56,700
Accounts Payable		96,600
Customer Refunds Payable		50,000
Salaries Payable		-
Lynn Tolley, Capital		685,300
Lynn Tolley, Drawing	135,000
Sales		5,069,000
Cost of Merchandise Sold	2,823,000
Sales Salaries Expense	664,800
Advertising Expense	281,000
Depreciation Expense	-
Store Supplies Expense	-
Miscellaneous Selling Expense	12,600
Office Salaries Expense	382,100
Rent Expense	83,700
Insurance Expense	-
Miscellaneous Administrative Expense	7,800
Total	5,957,600	5,957,600

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