It is March 1, 2024, the first business day of the month, and you have just been hired as the accountant for Stake Technology Inc., which operates with monthly accounting periods. For simplicity, ignore all sales tax considerations and assume that Stake Technology Inc. sells one product. All of the company's accounting work has been completed through the end of February, 2024. Stake Technology Inc.'s year end is March 31. The post-closing alphabetized trial balance at February 29, 2024 follows. Accounts receivable Accounts payable 2 Accumulated depreciation, store equipment Allowance for doubtful accounts Cash Common shares 3 Interest receivable 4 Stake Technology Inc. Post-Closing Trial Balance February 29, 2024 Merchandise inventory 5 Notes receivable 4 Prepaid insurance Retained earnings Store equipment 7 Utilities payable Inter-Office Memo 10 1 Invoice 6201 6 Totals Debit 161,600 Invoice 1951 CM155 1,196,145 212 1,280,000 56,500 28,500 56,700 Credit 544,500 45,700 29,088 64,500 Into 2,074,369 21,500 2,779,657 2,779,657 You have determined that Stake Technology Inc. uses the moving weighted average cost flow assumption under a perpetual system to account for merchandise inventory and that the terms of all credit sales are 2/10, n/30. Merchandise sells for $219 per unit. The following source documents are from March : Inter-Office Memo 14 See the Accounts Receivable Subledger below for details regarding customer balances. 2See the Accounts Payable Subledger below for details regarding creditor balances. 3There are an unlimited number of shares authorized with 10,000 shares issued and outstanding as at February 29, 2024. 4This is a 9% note due February 15, 2028 with interest collectible on the 15th of each month. Refer to the collection schedule below for the note details. Values in schedule have been rounded for convenience. 5See the Merchandise Inventory Subledger below for details of inventory holdings. 6The balance in Prepaid Insurance represents payment for 4 months starting March 1, 2024. 7See the Property, Plant and Equipment Subledger below for detailed information. M Invoice 1064 Joupis 63202

Proporty, Plart ind Cousment Sutiedoel. What is the nex meg in the accounting cycle? Poat agusting entrota Pest transeschent Propenty, Plant and Equoment sindedinar excunted to the nearest whole inonth for partal penoch Wat is the next slep in the accounting cycle? Post adjusting entries Post transactions Prepare closing entries Propove an unadjusted trial balance Prepse frandal stasements Prepare tank reconcliatien and adjusting antries Prepare a post-tiosing tr lal balancet Poat closing entries Prepare an acpusted tral balance This is the lant slep basance at febiuary 22.2024 follows \begin{tabular}{|c|c|c|} \hline & & \\ \hline Necturits receividie' & \begin{tabular}{l} Dres \\ istison \end{tabular} & Cowit \\ \hline Accoonis poyation? & & 544500 \\ \hline & & \begin{tabular}{l} 4500 \\ 20.010 \end{tabular} \\ \hline Cons & 1,100,165 & \\ \hline Compron shave I. & & exsod \\ \hline & 20 & \\ \hline Menthedse inemery 5 & 1,30000 & \\ \hline Witenieumates" & 90,500 & \\ \hline & & \\ \hline Bidaned baining? & & \\ \hline & & \\ \hline & & 21000 \\ \hline That & & 27 ines \\ \hline \end{tabular} Thee the Acefunts Feceivable subiedger below for detaly iegarding cushorrior balincist Isee Dive Accounts Parable sublodger below for detah iegarding credtor balances There are an unlmiled number of thares aunorined wh 10,060 shaves issupd and outstanding as af Fetruary 20, 2024 Betsh founded for comprience Ssee the Merchandive imentery Subledger below for tepan of mevior holsings The farance is Prepas incrance ieproment payment for 4 menthis staring Mord 1, 2024 detaled information seas for \$210 per unit The following source documierts are frum Mardh. eelia for $210 per unit. The followimg wouret dooments are from Wurd: For all parts of the Case stuoy, round at carculations fo two decimal places urless othenme specited. Proporty, Plart ind Cousment Sutiedoel. What is the nex meg in the accounting cycle? Poat agusting entrota Pest transeschent Propenty, Plant and Equoment sindedinar excunted to the nearest whole inonth for partal penoch Wat is the next slep in the accounting cycle? Post adjusting entries Post transactions Prepare closing entries Propove an unadjusted trial balance Prepse frandal stasements Prepare tank reconcliatien and adjusting antries Prepare a post-tiosing tr lal balancet Poat closing entries Prepare an acpusted tral balance This is the lant slep basance at febiuary 22.2024 follows \begin{tabular}{|c|c|c|} \hline & & \\ \hline Necturits receividie' & \begin{tabular}{l} Dres \\ istison \end{tabular} & Cowit \\ \hline Accoonis poyation? & & 544500 \\ \hline & & \begin{tabular}{l} 4500 \\ 20.010 \end{tabular} \\ \hline Cons & 1,100,165 & \\ \hline Compron shave I. & & exsod \\ \hline & 20 & \\ \hline Menthedse inemery 5 & 1,30000 & \\ \hline Witenieumates" & 90,500 & \\ \hline & & \\ \hline Bidaned baining? & & \\ \hline & & \\ \hline & & 21000 \\ \hline That & & 27 ines \\ \hline \end{tabular} Thee the Acefunts Feceivable subiedger below for detaly iegarding cushorrior balincist Isee Dive Accounts Parable sublodger below for detah iegarding credtor balances There are an unlmiled number of thares aunorined wh 10,060 shaves issupd and outstanding as af Fetruary 20, 2024 Betsh founded for comprience Ssee the Merchandive imentery Subledger below for tepan of mevior holsings The farance is Prepas incrance ieproment payment for 4 menthis staring Mord 1, 2024 detaled information seas for \$210 per unit The following source documierts are frum Mardh. eelia for $210 per unit. The followimg wouret dooments are from Wurd: For all parts of the Case stuoy, round at carculations fo two decimal places urless othenme specited