do not answer question 4 please

do quetion 5 instead

4. After all adjustments have been made, but before the accounts have been closed, the following balances were taken from the ledger: $ 40,000 54,500 Accounts payable Accounts receivable Accumulated depreciation Capital stock Cash Depreciation expense 83,325 50,000 7,150 23,500 Insurance expense Prepaid insurance Rent expense Retained earnings Salaries expense Salaries payable Service revenue $8,600 5,275 21,400 50,950 66,000 150 151,000 Dividends Equipment 28,000 155,000 Supplies Supplies expense 2,500 3,500 Journalize the entries to close the appropriate accounts. Delete End PgDm H J K L OUT TO US appropres 5. Using the perpetual inventory system, journalize the entries for the following selected transactions: (a) Sold merchandise on account, for $10,000. The cost of the merchandise sold was $4,500. (b) Sold merchandise to customers who used MasterCard and VISA. 58,500. The cost of the merchandise sold was $4,100 (c) Sold merchandise to customers who used American Express, $3,500. The cost of the merchandise sold was $1,600. (d) Paid an invoice from First National Bank for $255, representing a service fee for processing MasterCard and VISA sales. (e) Received $3,325 from American Express Company after a $175 collection fee had been deducted 6. The bank statement for Allen Co. indicates a balance of $8,000.00 on June 30. After the journals for June had been posted, the cash account had a balance of $3.675.00. Prepare a bank reconciliation on the basis of the following reconciling items: (a) Cash sales of $342 had been erroneously recorded in the cash receipts journal as $324. (b) Deposits in transit not recorded by bank, S500 (c) Bank debit memorandum for service charges, S25. (d) Bank credit memorandum for note collected by bank, S2,850, including $50 interest. (c) Bank debit memorandum for $218 NSF (not sufficient funds) check from Alice Bell, a customer (f) Checks outstanding. $2,200. 7. For a business that makes advance provision for uncollectible receivables