nstructions:

Prepare the journal entries for transactions A$-$T below and record them on the "Journal Entries" tab.

Once you have created the journal entries, post them to the $"$T$-$Accounts" tab.

Prepare journal entries for adjusting journal entries $1-6.$

Post the adjusting entries to the correct T$-$Accounts in the $"$T$-$Accounts" tab.

ransaction No$.$ Transaction

A January $1$: Pane receives rent for the $2$ years from a tenant who rents one of their empty warehouses.

Total Rent Received

$$87,000$

B January $11$: Pane sells window panes to customers. Some customers paid in cash, others purchased their goods on account. Pane uses the perpetual method to track their inventory.

Cash Sales

$5,637,000$

Sales on account

$39,054,000$

Cost of Goods Sold

$12,250,000$

C February $12$: Pane purchased a one year insurance policy with coverage beginning on March $1.$

Insurance Policy