I NEED HELP WITH SPECIAL JOURNALS?
H I have a comprehensive project I am trying to complete. I have completed the majority and got most answers correct. Unfortunately my worksheet is not balancing. I would really appreciate some help or pointers with this, thanks!!! May 1 Issued Check No. 3410 to S&P Management Co. in payment of the May rent, $3,710. (Usetwo lines to record the transaction. Charge 80% of the rent to Rent Expenseâ€”Selling Spaceand the balance to Rent Expenseâ€”Office Space.)2 Sold merchandise on credit to Hensel Company, Invoice No. 8785, for $6,100 (cost is $4,100).2 Issued a $175 credit memorandum to Knox, Inc., for defective (worthless) merchandise soldon April 28 and returned for credit. The total selling price (gross) was $4,725.3 Received a $798 credit memorandum from Peyton Products for the return of merchandisepurchased on April 29.4 Purchased the following on credit from Gear Supply Co.: merchandise, $37,072; store supplies,$574; and office supplies, $83. Invoice dated May 4, terms n_10 EOM.5 Received payment from Knox, Inc., for the balance from the April 28 sale less the May 2return and the discount.8 Issued Check No. 3411 to Peyton Products to pay for the $7,098 of merchandise purchasedon April 29 less the May 3 return and a 2% discount.9 Sold store supplies to the merchant next door at their cost of $350 cash.10 Purchased $4,074 of office equipment on credit from Gear Supply Co., invoice dated May10, terms n_10 EOM.11 Received payment from Hensel Company for the May 2 sale less the discount.11 Purchased $8,800 of merchandise from Garcia, Inc., invoice dated May 10, terms 2_10,n_30.12 Received an $854 credit memorandum from Gear Supply Co. for the return of defective officeequipment received on May 10.15 Issued Check No. 3412, payable to Payroll, in payment of sales salaries, $5,320, and officesalaries, $3,150. Cashed the check and paid the employees.15 Cash sales for the first half of the month are $59,220 (cost is $38,200). (Cash sales arerecorded daily but are recorded only twice here to reduce repetitive entries.)15 Post to the customer and creditor accounts. Also post individual items that are not includedin column totals at the end of the month to the general ledger accounts. (Such items areposted daily but are posted only twice each month because they are few in number.)16 Sold merchandise on credit to Hensel Company, Invoice No. 8786, for $3,990 (cost is$1,890).17 Purchased $13,650 of merchandise from Fink Corp., invoice dated May 14, terms 2_10,n_60.19 Issued Check No. 3413 to Garcia, Inc., in payment of its May 10 invoice less the discount.22 Sold merchandise to Lee Services, Invoice No. 8787, for $6,850 (cost is $4,990), terms2_10, n_60.23 Issued Check No. 3414 to Fink Corp. in payment of its May 14 invoice less the discount.24 Purchased the following on credit from Gear Supply Co.: merchandise, $8,120; store supplies,$630; and office supplies, $280. Invoice dated May 24, terms n_10 EOM.25 Purchased $3,080 of merchandise from Peyton Products, invoice dated May 23, terms 2_10,n_30.26 Sold merchandise on credit to Crane Corp., Invoice No. 8788, for $14,210 (cost is $8,230).26 Issued Check No. 3415 to Perennial Power in payment of the May electric bill, $1,283.29 The owner of Colo Company, Jenny Colo, used Check No. 3416 to withdraw $7,000 cashfrom the business for personal use.30 Received payment from Lee Services for the May 22 sale less the discount.30 Issued Check No. 3417, payable to Payroll, in payment of sales salaries, $5,320, and officesalaries, $3,150. Cashed the check and paid the employees.31 Cash sales for the last half of the month are $66,052 (cost is $42,500).31 Post to the customer and creditor accounts. Also post individual items that are not includedin column totals at the end of the month to the general ledger accounts. Foot and crossfootthe journals and make the month-end postings.Required1. Enter these transactions in a sales journal, a purchases journal, a cash receipts journal, a cash disbursementsjournal, or a general journal as illustrated in this chapter. Post when instructed to doso. Assume a perpetual inventory system.2. Prepare a trial balance in the Trial Balance columns of the work sheet form provided with the workingpapers. Complete the work sheet using the following information for accounting adjustments:a. Expired insurance, $553.b. Ending store supplies inventory, $2,632.c. Ending office supplies inventory, $504.d. Depreciation of store equipment, $567.e. Depreciation of office equipment, $329.Prepare and post adjusting and closing entries.