**Instructions**This assignment is designed for practicing both the retailer/merchandiser accounting cycle and your basic Excel skills. Below are select sales transactions for two companies. You will need to enter the missing pieces of each transaction on the journal entry tab. Each missing piece of information is highlighted in yellow. The only cell where an actual number is to be input is on the journal entries worksheet. *Please note: not every yellow cell requires input (it could be left blank if appropriate).*After completing the journal entries, you must then complete the missing pieces of the T accounts, trial balance, and statements highlighted in yellow. Only Excel functions may be used to calculate the appropriate cell value on these pages. **DO NOT INPUT THE ACTUAL NUMBER INTO THE T ACCOUNTS, TRIAL BALANCE, OR STATEMENTS.** Use Excel functions (such as making a cell equal another from the journal entry page, summing numbers together, or using the plus or minus symbols to help you find the appropriate number). Your balance sheet should balance when you are complete.*Tip: After each journal entry, update the appropriate T accounts.***Select Retailer/Merchandiser-Related Transactions:**- 1-Jan Monsters Inc. purchased merchandise on account from Star Trek Enterprises - Terms: FOB shipping point - Discount: 3% if paid in 10 days, otherwise, n/45 - $25,000 - COGS: $10,250- 2-Jan Monsters Inc. pays freight - $575- 3-Jan Monsters Inc. purchased additional merchandise on account from Star Trek Enterprises - $4,500 - Terms: FOB destination - Discount: 1% if paid in 10 days, otherwise, n/45 - COGS: $2,300- 7-Jan Star Trek Enterprises pays freight - $125- 10-Jan Star Trek Enterprises received payment from Monsters Inc. for purchase on the 1st- 22-Jan Star Trek gave Monsters Inc. a credit for damaged merchandise from purchase on the 3rd - $225- 31-Jan Star Trek Enterprises received payment from Monsters Inc. for purchase on the 3rd**Input Instructions:**Journal Entries:- If cash is received, make it the first debit in the entry- If cash is paid, make it the last credit The image displays two tables that present the accounting transactions for two different entities: "Star Trek Enterprises" and "Monsters Inc." Each table is structured with columns for the date of the transaction, the account details, and columns for debits and credits. Here's a detailed transcription of each table:**Table 1: Star Trek Enterprises**- **Columns:** - Transaction Date - Account - Debit - Credit- **Rows:** 1. **1-Jan**: Sales Revenue 2. **2-Jan**: [Blank] 3. **3-Jan**: [Blank] 4. **7-Jan**: [Blank] 5. **10-Jan**: [Blank] 6. **22-Jan**: [Blank] 7. **31-Jan**: [Blank]**Table 2: Monsters Inc.**- **Columns:** - Transaction Date - Account - Debit - Credit- **Rows:** 1. **1-Jan**: [Blank] 2. **2-Jan**: [Blank] 3. **3-Jan**: [Blank] 4. **7-Jan**: [Blank] 5. **10-Jan**: [Blank] 6. **22-Jan**: [Blank] 7. **31-Jan**: [Blank]**Explanation:**Both tables are set up similarly, with periodic entries that structure financial events for the month of January. However, the specific details within the rows (besides the dates) and any debits or credits are not displayed in the image, which suggests it might be a template awaiting data entry or partially redacted for illustration purposes. The table headers and column structures are typical for accounting records used to track financial transactions chronologically.

Journal entries are the records of the transactions entered into by the organization during the…

Instructions This assignment is designed for practicing both the retailer/merchandiser accounting cycle and your basic excel skills. Below are select sales transactions for two companies. You will need to enter the missing pieces of each transaction on the journal entry tab. Each missing piece of information is highlighted in yellow. The only cell where an actual number is to be input is on the journal entries worksheet. Please note: not every yellow cell requires input (it could be left blank if appropriate). After completing the journal entries, you must then complete the missing pieces of the T accounts, trial balance, and statements highlighted in yellow. Only excel functions may be used to calculate the appropriate cell value on these pages. DO NOT INPUT THE ACTUAL NUMBER INTO THE T ACCOUNTS, TRIAL BALANCE, OR STATEMENTS. Use excel functions (such as making a cell equal another from the journal entry page, summing numbers together, or using the plus or minus symbols to help you find the appropriate number). Your balance sheet should balance when you are complete. Tip: After each journal entry, update the appropriate T accounts. Select Retailer/Merchandiser-Related Transactions: 1-Jan Monsters Inc. purchased merchandise on account from Star Trek Enterprises $25,000 Terms: FOB shipping point Discount 3% if paid in 10 days, otherwise, n/45 $10,250 COGS: 2-Jan Monsters Inc. pays freight $575 3-Jan Monsters Inc. purchased additional merchandise on account from Star Trek Enterprises FOB destination Discount 1% if paid in 10 days, otherwise, n/45 Terms: COGS: $2,300 $125 7-Jan Star Trek Enterprises pays freight 10-Jan Star Trek Enterprises received payment from Monsters Inc. for purchase on the 1st. 22-Jan Star Trek gave Monsters Inc. a credit for damaged merchandise from purchase on the 3rd 31-Jan Star Trek Enterprises received payment from Monsters Inc. for purchase on the 3rd. $4,500 $225 Input instructions: Journal Entries: If cash is received, make it the first debit in the entry If cash is paid, make it the last credit in the entry Debits are listed first, credits are listed second