Centprehensive Problem 2 Required: 1. Journalize the transections for May, the last month of ahe facal year. 2. Post the joarnal entries to the general ledger. 3. Fnter the unidjasted trial balance on a 10 -solurna end-of-period speeadhect (work sheeth, and coenplete the spreadshest asing the following adjustment data At the end of May, the follewing adjustmeet data were ascmbled: Ifem Description a Physcial inventary count on May 31 b) Insarance expired during the year c. Store supplies on hand on May 31 d Depreciation for the curreat year e Accrued salaries on May 31: Sales salarics Orice salaties Total f The adjustaneat for customer returas and allowances is $60.000 for mies and $15.000 for cout of goods sold. Ambunt 570.000 12000 4,000 14,000 7,00014,00013,6006,000 4. Jourmalize the adjusting entries, Post the adjusting entries to the general Ledgar 5. Prepare a multiple-step inseme statement. 6. Prepare a statement of stockholders cquify, Assume that aditional commen stock of $10,000 was issucd in Janaary 20 Y 6 . 7. Prepare a balance shect. 8. Jocmalise the closing entries. Thea post the closing eatries to the feneral ledrer . 9. Prepare a post-closing trial balanoc