Exercise 2: Below information is from company Y (Currency unit: 1.000VND ) 1) Dispatched tools and supplies which cost 5.000 for use in selling department 2) Dispatched merchandise goods which cost 20.000 to customer A for sale on credit, total selling price was 50.000 . 3) Dispatched merchandise goods which cost 5.000 to send to agent Khai Silk to sell for 30.000 4) Depreciation of fixed assets that used for business management was 500 , for selling department was 800 5) Salary payables for sale staffs was 7.000 , for managerial staffs was 12.000 6) Appropriated social insurance, health insurance, unemployment insurance and trade union fees from salaries of sale staffs and managerial staffs. (23,5\% for operating cost and 10,5% for employee salary deduction) 7) Agent Khai Silk informed that all consigned products (in transaction 3) was sold, the company received cash in banks from Khai Silk. 8) Applied trade discount to customer A because of great volume purchased, total trade discount was 5.000 9) Other services were used in selling department that paid by 4.000 cash on hand Required: - Prepare account (journal) entries for each transactions above and record into T-accounts that relate to income summary process. - Prepare income statement in simple form (the income statement should present Sales, Revenue deductions, Net sales, Costs of goods sold, Gross profit, Selling expenses, General administration expenses, Operating profit)