Journalize the adjusting entries using the following data:

a.	Interest revenue accrued, $250.
b.	Salaries (Selling) accrued, $2,700.
c.	Depreciation ExpenseEquipment (Administrative), $1,320.
d.	Interest expense accrued, $1,600.
e.	A physical count of inventory was completed. The ending Merchandise Inventory should have a balance of $45,900.
f.	Tilton estimates that approximately $3,500 of merchandise sold will be returned with a cost of $1,400.

2.

Prepare

Tilton Electroncs'

adjusted trial balance as of

March 31, 2024.

3.

Prepare

Tilton Electroncs'

multi-step income statement for year ended

March 31, 2024.

Tilton Electroncs Company

Unadjusted Trial Balance

March 31, 2024

Balance

Account Title

Debit

Credit

Cash

$6,000

Accounts Receivable

38,500

Merchandise Inventory

46,700

Office Supplies

6,500

Equipment

132,000

Accumulated DepreciationEquipment

$37,500

Accounts Payable

16,600

Unearned Revenue

14,000

Notes Payable, long-term

34,000

Common Stock

53,000

Retained Earnings

150

Dividends

17,000

Sales Revenue

292,000

Sales Discounts Forfeited

350

Cost of Goods Sold

146,000

Salaries Expense (Selling)

23,500

Rent Expense (Selling)

15,700

Salaries Expense (Administrative)

4,800

Utilities Expense (Administrative)

10,900

Total

$447,600

$447,600