PLEASE EXPLAIN EACH STEP, DO NOT USE ARTIFICIAL INTELLIGENCE LIGHTLY, THAT CAUSES THE ANSWERS AND THE PAGE TO DOWN IN QUALITY

EVERYTHING MUST BE EXPLAINED AND ORGANIZED IN THE BEST WAY

Using the general merchandise method, make the following journal entries, adjustments, and ledger $"$T$\text{'}$s$"$

$1.$ The commercial establishment was opened with the following values:

Box $160,000\mathrm{.}00$

Goods $840,000\mathrm{.}00$

Furniture $150,000\mathrm{.}00$

Suppliers $300,000\mathrm{.}00$

Capital $850,000\mathrm{.}00$

$2.$ Merchandise was sold for $$600,000\mathrm{.}00$ in cash

$3.$ Merchandise was purchased for $$800,000\mathrm{.}00$ within $60$ days

$4.$ Merchandise was sold on credit for $$300,000\mathrm{.}00$

$5.$ Merchandise was purchased for $$150,000\mathrm{.}00$ which was paid by check

$6.$ The purchases caused freight and transportation expenses of $$500\mathrm{.}00$ that were owed

$7.$ From credit sales, merchandise worth $$2,500\mathrm{.}00$ was returned to us

$8.$ From credit purchases we returned merchandise for $$4,000\mathrm{.}00$

$9.$ On sales made on credit we granted discounts of $$1,500\mathrm{.}00$

$10.$ On purchases made on credit, we were granted discounts of $$1,500\mathrm{.}00$

$11.$ Final inventory $$839,000\mathrm{.}00$