Merchandising Operations 315 p- preparing multi-step income statement Learning Objectives 4, 5 unacijusted trial balance for Tuttle Electronics Company follows 2. Total Credits $480,345 TUTTLE ELECTRONICS COMPANY Unadjusted Trial Balance October 31, 2018 Balance Account Title Debit Credit Cash $4,200 33,800 45,700 5,700 129,500 Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation- Equipment 37,200 15,600 13,400 53,000 48,000 Accounts Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue 6,700 27,000 300,300 Cost of Goods Sold Salaries Expense (Selling) 171,600 26,000 15,400 4,800 10,500 $ 474,200 Rent Expense (Selling) salaries Expense (Administrative) Utilities Expense (Administrative) Total $ 474,200 Requirements 1. Journalize the adjusting entries using the following data a. Interest revenue accrued, $550. b. Salaries (Selling) accrued, $2,800. c. Depreciation Expense-Equipment (Administrative), $1,295 d. Interest expense accrued, $1,500. e. A physical count of inventory was completed. The ending Merchandise Inven- tory should have a balance of $45,300. f. Tuttle estimates that approximately $6,200 of merchandise sold will be returned with a cost of $2,480. 2. Prepare Tuttle Electronics's adjusted trial balance as of October 31, 2018. 3. Prepare Tuttle Electronics's multi-step income statement for year ended October 31, 2018