*****General Journal entry needed for A,B,C & D******

The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense-Store Equipment, Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Credit Debit $ 16,750 12,500 5,500 2,600 42,600 $ 17,250 12,000 3,000 35,000 2,250 115,850 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-Store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Sales salaries expense Office salaries expense Insurance expense Rent expense-Selling space Rent expense-Office space Store supplies expense Advertising expense Totals 1,850 2,250 38,000 0 15,550 15,550 0 9,000 9,000 9,700 $183,100 $183, 100 Additional Information: a. Store supplies still available at fiscal year-end amount to $2,900. b. Expired insurance, an administrative expense, is $1,450 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,550 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,200 of inventory is still available at fiscal year-end. Required 1 Required 2 Required 3 Using the above information, prepare adjusting journal entries. View transaction list Journal entry worksheet 2 3 4 Store supplies still available at fiscal year-end amount to $2,900. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal NELSON COMPANY Income Statement For Year Ended January 31 Expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total expenses Required 1 Required 2 Required 3 Prepare a single-step income statement for the year ended January 31. NELSON COMPANY Income Statement For Year Ended January 31 Expenses Total expenses