From the preceding as well as the following additional data, complete a-c:

1. Journalize the transactions. The company uses the periodic method.
2. Post to Allowance for Doubtful Accounts, Income Summary, and Bad Debts Expense accounts as needed. (Be sure to record the beginning balance in the Allowance account in the working papers that accompany this text.)
3. Prepare a current assets section of the balance sheet. Ending balances needed are as follows: Cash, $12,500; Accounts Receivable, $175,000; Office Supplies, $2,150; Merchandise Inventory, $107,000; Prepaid Rent, $1,150.

Must be answered on an excel spreadsheet