Answer to Question #245155 in Economics for Bili

Question

Enter the balances of each of the accounts in the appropriate balance column of a four-column account. Write Balance in the item section, and place a check mark (✓) in the Posting Reference column. Journalize the transactions for July. 2. Post the journal to the general ledger, extending the month-end balances to the appropriate balance columns after all posting is completed. In this problem, you are not required to update or post to the accounts receivable and accounts payable subsidiary ledgers. 3. Prepare an unadjusted trial balance. 4. At the end of July, the following adjustment data were assembled. Analyze and use these data to complete (5) and (6). a. Merchandise inventory on July 31 $589,850 b. Insurance expired during the year 12,500 c. Store supplies on hand on July 314,700 d. Depreciation for the current year 18,800 e. Accrued salaries on July 31: Sales salaries $4,400 Office salaries 2,700 7,100

Answer 1

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