Extra Credit Merchandise Company Worksheet Problem $($Optional$)$

Journalize the transactions in P$5\mathrm{.}2$ using a perpetual inventory system.

Update the trial balance above for May$31,20$xx and enter in the columns $1$ & $2$ of the worksheet.

Use the following adjustment information to complete columns $3$&$4$ of the worksheet.

a$.$ Inventory on the trial balance is overstated by $$1,000.$

b$.$ Supplies on hand May $31,20$xx are $$1,200.$

c$.$ Sales for May not invoiced were $$5,000$ at a cost of $$3,500.$

d$.$ Salaries for work done in May, but not paid until June are $$4,000.$

Complete the worksheet.