Comprehensive Problem 2 Part 1 and Part 2: Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balance (unless otherwise indicated), are as follows: L 110 Cash Accounts Receivable 115 Merchandise Inventory 117 Prepaid Insurance 118 Store Supplies 123 Store Equipment 124 Accumulated Depreciation-Store Equipment 210 Accounts Payable 112 211 Customer Refunds Payable 212 Salaries Payable 310 Lynn Tolley, Capital, June 1, 20Y6 311 Lynn Tolley, Drawing 410 Sales $83,600 233,900 652,400 16,800 11,400 569,500 56,700 96,600 50,000 685,300 135,000 5,069,000

Part 1 and Part 2: Palisade Creek. Co, is a merchandising business that uses the perpetual inventory system. The account balanc Part 1 and Part 2: Palisade Creek. Co, is a merchandising business that uses the perpetual inventory system. The account balanc