Please answer them correctly

39 Notes Relating to Balances: Customers and balances Suppliers and Balances As at May 31, 2023 40 41 Lance Inc $6,250 Zalora Co. $16 730 Assets $8.610 Mango Corp $7 820 42 Knot Inc. $6.240 Cash $72,560 43 Mcdo Inc. $5.570 evis Co. 25,480 44 Giffo Inc. $3.050 Total $30.790 Accounts Receivable Merchandise Inventory 45 Promod Inc. $2,000 38,000 46 Total $25.480 Prepaid Insurance 7,20 47 The bank loan has an annual interest rate of 9% and has monthly principal payment of $1,665. Total Current Assets 143,240 48 Long-Term Assets 49 50 Equipment 166,000 51 Accumulated Depreciation 81,000 85,000 52 The Chart of Accounts (GL no.] is shown below Total Assets $228,240 53 Account Description Account # Account Description Account # 54 ASSETS REVENUE 55 Cash Liabilities Sales Revenue 400 56 Petty Cash Sales Discounts 405 Current Liabilities 57 Accounts Receivable Sales Returns and Allowances 410 Accounts Payable $30, 790 58 Merchandise Inventory 120 Interest Revenue 420 125 Unearned Revenue 59 Prepaid Insurance $14,500 Other Income 60 Equipment 140 EXPENSES Salaries Payable $8,250 Accumulated Depreciation 145 Cost of Goods Sold 500 Current Portion of Bank Loan 19,980 LIABILITIES Employee Benefits Expense 510 Total Current Liabilities $73,520 63 Accounts Payable 200 Depreciation Expense 515 Non-Current Liabilities 64 Interest Payable 205 Insurance Expense 520 65 CPP Payable 220 Non-Current Portion of Bank Loan Interest Expense 525 29,970 66 El Payable 225 Office Supplies Expense 530 Total Liabilities $103,490 67 Income Tax Payable 230 Rent Expense 535 68 Salaries Payable 235 69 Unearned Revenue 240 Salaries Expense 540 Shareholders' Equity 70 Bank Loar 245 Bank Charges Expense 545 Common Shares Maintenance Expense 550 81,600 71 SHAREHOLDERS' EQUITY 72 Common Shares Entertainment Expense 555 Retained Earnings 43,150 300 Total Shareholders' Equity 73 Retained Earnings Shipping Expense 124,750 305 560 Cash Over and Short 565 Total Liabilities & Equity $228,240 Notes Relating to Balances: General Journal Page Account Title and Explanation PR DR CR ate Required: al Prepare the journal entries for the month of June. You will also need to update the inventory in the table for each purchase and sale, return or allowance. Found under the Inventory Valuation tab of this workbook. biEnter the opening balances of the accounts from the opening balance sheet and post the above journal entries to the account. cl Complete the bank reconciliation report. di Record the journal entries from the bank reconciliation and post amounts to general ledger accounts. el Complete the 10-column worksheet. F) Post the adjusting entries to the accounts. el Journalize and post the adjustments. hi Prepare the multistep income statement, calculation of retained earnings, classified balance sheet found under the financial statements tab of this workbook. i) Answer the analysis questions from a' to 'i' found under the financial statements tab of this workbook. i) Answer all the questions in the Quiz Questions Solution tab