victoria company's balance sheet at december 31,2013, is presented below.

Project Description:

victoria company
balance sheet
december 31,2013
cash $13,100
accounts receivable 19,780
allowance for doubtful accounts (800)
inventory 9,400
=$41,480
accounts payable $8,750
common stock 20,000
retained earnings 12,730
=41,480

during january 2014, the following transactions occurred. victoria uses the perpetual inventory method

jan. 1 victoria accepted a 4-month, 8% note from leon company in payment of lean's $1,500 account.
3 victoria wrote off as uncollectible the accounts of barker corporation ($450)and elmo company ($330).
8 victoria purchased $17,200 of inventory on account.
11 victoria sold for $25,000 on account inventory that cost $17,500.
15 victoria sold inventory that cos $780 to joe haribo for $1,200. haribo charged this amount on his visa first bank card. the service fee charged victoria by first bank is 3%.
17 victoria collected $22,900 from customers on account.
21 victoria paid $16,300 on accounts payable
24 victoria received payment in full ($330) from elmo company on the account written off on january 3.
27 victoria purchased advertising supplies for $1,400 cash.
31 victoria paid other operating expenses, $3,218

adjustment data:
1. interest is recorded for the month on the note from january 1.
2. bad debts are expected to be 5% of the january 31, 2014, accounts receivable.
3. a count of advertising supplies on january 31, 2014, reveals that $470 remains
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