Using the information from the Excel workbook from Week 2's graded submission, Pat completed a worksheet using the following information for accounting adjustments.

Review the completed the columns for the below adjusting entries, income statement, and balance sheet.

Submit the corrected journal entries from week 2 along with the reviewed and correct Worksheet for week 4.

1. Expired insurance, $553.
2. Ending store supplies inventory, $2,632.
3. Ending office supplies inventory, $504.
4. Depreciation of store equipment, $567.
5. Depreciation of office equipment, $329.

Please note, the journal entries and T accounts will not be graded as part of the week 4 submission, they need to be revised to get the correct numbers for the week 4 worksheet. All parts of the spreadsheet need to be submitted each week.

Information included below

					Name
Balance Sheet
				Fitchburg, Inc.
				Statement of Changes in Shareholders' Equity
				For Month Ended May 31, 20XX
				Fitchburg, Inc.
				Balance Sheet
				May 31, 20XX

				Name
Income Statement
				Fitchtown, Inc.
				Income Statement
				For Month Ended May 31, 20XX

					Name	Ryan T. Jordan
General Journal	Note that all entries are rounded to the nearest dollar
					GENERAL JOURNAL
Date		Account Titles and Explanation	Debit	Credit
May	1	Rent Expense- Selling Space		2,968
		Rent Expense- Office Space		742
			Cash					3,710
		Paid May's rent
	2	Accounts Receivable- Cole		6,100
			Sales Revenue				6,100
		Cost of Goods Sold			4,100
			Merchandise Inventory			4,100
		Merchandise Sales on credit
	2	Sales Revenue				175
			Accounts Receivable-Mercer		175
		Goods returned from April 28
	3	Accounts Payable-Preston		798
			Merchandise Inventory			798
		returned goods purchased April 29
	4	Merchandise Inventory			37,072
			Store Supplies			574
			Office Supplies			83
			Accounts Payable-Davis Supply		37,729
		purchased goods invoiced May 4; terms n/10, EOM
	5	Cash					4,459
		Sales Discount				91
			Accounts Receivable-Mercer		4,550
		received payment less return and discount
	8	Accounts Payable-Preston		6,300
			Cash					6,174
			Merchandise Inventory			126
		paid for goods purchased April 29 within discount period
	9	Cash					350
			Sales Revenue				350
		received cash for store supplies sold to next door merchant
		Cost of Goods Sold			350
			Merchandise Invenory			350
	10	Office Equipment			4,074
			Accounts Payable-Davis Supply		4,074
		purchased goods invoiced May 10; terms n/10, EOM
	11	Cash					5,978
		Sales Discount				122
			Accounts Receivable-Cole		6,100
		Received payment of May 2 sale less discount
	11	Merchandise Inventory			8,800
			Accounts Payable-Henley		8,800
		purchased goods, invoiced for May 10; terms 2/10, n/30
	12	Accounts Payable-Davis Supply		854
			Merchandise Inventory			854
		Goods returned from May 10
	15	Salaries Expense-Sales			5,320
		Salaries Expense-Office			3,150
			Accounts Payable			8,470
		record employees' salaries
	15	Cash					59,220
			Sales Revenue				59,220
		record sales for the first half of the month
			Merchandise Inventory		38,200
			Cost of Goods sold			38,200
	16	Accounts Receivables-Cole		3,990
			Sales Revenue				3,990
		Cost of Goods Sold			1,890
			Merchandise Inventory			1,890
		record May 16 sale; terms 2/10, n/30
	17	Merchandise Inventory			13,650
			Accounts Payable-Summit		13,650
		purchased goods invoiced May 14; terms 2/10, n/60
	19	Accounts Payable-Henley			4,074
			Cash					3,993
			Sales Discounts				81
		Paid for goods invoiced May 10 within discount period
	22	Accounts Receivable-Crane		6,850
			Sales Revenue				6,850
		Cost of Goods				4,990
			Merchandise Inventory			4,990
		record May 22 sale; term 2/10, n/60
	23	Accounts Payable-Summit		13,650
			Cash					13,377
			Merchandise Inventory			273
		paid for goods invoiced May 14 within discount period
	24	Merchandise Inventory			8,120
		Store Supplies				630
		Office Supplies				280
			Accounts Payable-Davis		9,030
		purchased goods, invoiced May 24; terms n/10 EOM
	25	Merchandise Inventory			3,080
			Accounts Payable-Preston		3,080
		purchased goods, invoiced May 23; terms 2/10, n/30
	26	Accounts Receivable-Crank		14,210
			Sales Revenue				14,210
		Cost of Goods				8,230
			Merchandise Inventory			8,230
		record May 26 sale; terms 2/10, n/30
	26	Utilities Expense-Electric			1,283
			Cash					1,283
		record payment of May electric bill
	29	Common Stock				7,000
			Cash					7,000
		cash dividends declared and paid same day
	30	Cash					6,713
		Sales Discount				137
			Accounts Receivable-Crane		6,850
		received payment of May 22 sale less discount
	30	Salaries Expense-Sales			5,320
		Salaries Expense-Office			3,150
			Accounts Payable			8,470
		record employees' salaries
	31	Cash					66,052
			Sales Revenue				66,052
		record sales for the last half of the month
							$363,179	$363,179