Question

Looking to get all the journal entries for the following! and the adjusting journals as well! Thank you!
ACCTG 211 Accounting Cycle Project 150 Points Blank Co. is a retail business that uses the perpetual inventory system. The account balances for Blank Co. as of May 1, 2019 (unless otherwise indicated), are as follows: 110 Cash 112 Accounts Receivable 115 Inventory 116 Estimated Returns Inventory 117 Prepaid Insurance 118 Store Supplies 123 Store Equipment 124 Accumulated Depreciation- Store Equipment 210 Accounts Payable 211 Salaries Payable 212 Customers Refunds Payable 310 Common Stock 311 Retained Earnings $ 83,600 233,900 624,400 28.000 16,800 11,400 569,500 $ 135,000 5,069,000 2,823,000 664,800 281.000 312 Dividends 410 Sales 510 Cost of Goods Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense 523 Store Supplies Expense 529 Miscellaneous Selling Expense 530 Office Salaries Expense 531 Rent Expense 532 Insurance Expense 539 Miscellaneous Administrative Expense 56,700 96,600 12,600 382, 100 83.700 50.000 100.000 7.800 585.300 During May, the last month of the fiscal year, the following transactions were completed: 3. Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. 4. Paid freight on purchase of May 3, $600. 6. Sold merchandise on account to Korman Co., terms 2/10, n/30, FOB shipping point, $68,500. The cost of th 7. Received $22,300 cash from Halstad Co. on account. 10. Sold merchandise for cash, $54,000. The cost of the goods sold was $32,000. 13. Paid for merchandise purchased on May 3. 16. Received cash from sale of May 6. 19. Purchased merchandise for cash, $18,700. 19. Paid $33,450 to Buttons Co. on account. 20. Paid Korman Co. a cash refund of $13,230 for returned merchandise from sale of May 6. The invoice amount of the returned merchandise was $13,500 and the cost of the returned merchandise was $8,000. 20. Sold merchandise on account to Crescent Co., terms 1/10, n/30, FOB shipping point, $110,000. The cost of the goods sold was $70,000. 21. For the convenience of Crescent Co., paid freight on sale of May 20, $2,300. 21. Received $42,900 cash from Gee Co. on account. 21. Purchased merchandise on account from Osterman Co., terms 1/10, n/30, FOB destination, $88,000. 24. Returned damaged merchandise purchased on May 21, receiving a credit memo

Answer 1

Date	Description	Debit	Credit
May 3, 2019	Merchandise Inventory ($36,000 x (1-2%)	35280
	Accounts Payable—Martin Co.		35280
May 4, 2019	Merchandise Inventory	600
	Cash		600
May 6, 2019	Accounts Receivable—Korman Co.	67130
	Sales ($68,500 x (1-2%)		67130
May 6, 2019	Cost of Merchandise Sold	41000
	Merchandise Inventory		41000
May 7, 2019	Cash	22300
	Accounts Receivable—Halstad Co.		22300
May 10, 2019	Cash	54000
	Sales		54000
May 10, 2019	Cost of Merchandise Sold	32000
	Merchandise Inventory		32000
May 13, 2019	Accounts Payable—Martin Co.	35280
	Cash		35280
May 16, 2019	Cash	67130
	Accounts Receivable—Korman Co.		67130
May 19, 2019	Merchandise Inventory	18700
	Cash		18700
May 19, 2019	Accounts Payable—Buttons Co.	33450
	Cash		33450
May 20, 2019	Customers Refunds Payable	13230
	Cash		13230
May 20, 2019	Merchandise Inventory	8000
	Estimated Returns Inventory		8000
May 20, 2019	Accounts Receivable—Cresent Co.	108900
	Sales ($110,000 x (1-1%)		108900
May 20, 2019	Cost of Merchandise Sold	70000
	Customers Refunds Payable		70000
May 21, 2019	Accounts Receivable—Cresent Co.	2300
	Cash		2300
May 21, 2019	Cash	42900
	Accounts Receivable—Gee Co.		42900
May 21, 2019	Merchandise Inventory  ($88000 x (1-1%)	87120
	Accounts Payable—Osterman Co.		87120
May 24, 2019	Accounts Payable—Osterman Co.	4950
	Merchandise Inventory		4950
May 26, 2019	Customers Refunds Payable	7500
	Cash		7500
	Merchandise Inventory	4800
	Estimated Returns Inventory		4800
May 30, 2019	Accounts Receivable—Turner Co.	77175
	Sales ($78750 x (1-2%)		77175
	Cost of Merchandise Sold	47000
	Merchandise Inventory		47000
May 30, 2019	Cash	111200
	Accounts Receivable—Crescent Co.		111200
May 31, 2019	Accounts Payable—Osterman Co	82170
	Cash  ($87,120 – $4,950)		82170
Adjusting Entries
May 31,2019	Sales Salaries Expense	7000
	Office Salaries Expense	6600
	Salaries Payable		13600
May 31,2019	Sales	60000
	Customer Refunds Payable		60000
May 31,2019	Estimated Returns Inventory	35000
	Cost of Merchandise Sold		35000