4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete Part 6. a. Merchandise inventory on May 31 $585,200 b. Insurance expired during the year 12,000 c. Store supplies on hand on May 31 d. Depreciation for the current year e. Accrued salaries on May 31: 4,000 14,000 Sales salaries $7,000 Office salaries 6,600 13,600 t. The adjustment for customer refunds and allowances is $60,000. 6. Journalize the adjusting entries. If an amount box does not require an entry, leave it blank. Post the adjusting entries to the attached spreadsheet you used in parts 1 and 2.

4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete Part 6. a. Merchandise inventory on May 31 $585,200 b. Insurance expired during the year 12,000 c. Store supplies on hand on May 31 d. Depreciation for the current year e. Accrued salaries on May 31: 4,000 14,000 Sales salaries $7,000 Office salaries 6,600 13,600 t. The adjustment for customer refunds and allowances is $60,000. 6. Journalize the adjusting entries. If an amount box does not require an entry, leave it blank. Post the adjusting entries to the attached spreadsheet you used in parts 1 and 2.

Name: **Comprehensive Problem 2****Part 4 and 6:****Note:** You must comple
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Description: **Comprehensive Problem 2****Part 4 and 6:****Note:** You must complete parts 1, 2, and 3 before attempting to complete part 4 and part 6. Part 5 is an optional worksheet.4. At the end of May, the following adjustment data were assembled. Analyze an

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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