part A:

General Journal Account Name Cr. Ref. 1 Dr. 20000 Cash 0 10000 0 > > 0 30000 19500 0 . 0 19500 2 17000 0 O 17000 0 3 4000 0 4000 4 40000 0 Accounts Receivable Sales To record sale of merchandise. Costs of Goods Sold Inventory To record cost of merchandise sold. Cash Accounts Receivable Income Taxes Payable Cash Inventory Cash Accounts Payable Accounts Payable Cash Cash Sales To record sale of merchandise. Costs of Goods Sold Inventory To record cost of merchandise sold. Operating Expenses Cash 0 32000 0 8000 0 5 6000 0 6000 6 72000 0 0 72000 > 46800 0 > 0 46800 7 19000 0 0 19000 8 Cash 1000 0 0 1000 9 100000 0 0 73000 0 27000 10 68000 0 30000 0 . . 0 98000 Common Stock Inventory Cash Accounts Payable Cash Accounts Receivable Sales To record sale of merchandise. Costs of Goods Sold Inventory To record cost of merchandise sold. Cash Accounts Receivable Accounts Payable Cash Operating Expenses Cash 63700 0 > > 0 63700 11 . 26000 0 O 26000 12 . 28000 0 0 28000 13 18000 0 . 0 18000 b. Set up T-accounts as the general ledger for each of the accounts listed in the above trial balance and enter the December 31, 2019, balances. Post the journal entries from part a. Note: Enter amounts in the order that they are presented above (1 through 13), using the first available answer field on the appropriate side of the T-account. Not all answer fields will be used. Do not enter reference numbers. Cash 101 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Accounts Receivable 102 104 Prepaid Insurance 105 200 Allowance for Doubtful Accounts Inventory 0 Equipment 0 0 0 103 0 0 0 Accumulated Depreciation- Equipment 0 0 201 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 300 302 Common Stock 400 401 Accounts Payable 0 Income Taxes Payable 0 0 Retained Earnings 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Sales 500 Cost of Goods Sold 600 601 Operating Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0