Question

(updated, more info at very end)

Need to prepair (1)Trail Balance, (2) Adjusting Entries, & (3) Closing Entries for

Northridge LLC operates with monthly accounting periods. All of the company's accounting work is completed through the end of April, and its ledgers show April 30 balances. Terms for all credit sales are 2/10, n/30, unless otherwise stated.

May	1	Issued Check No. 3410 to Q&R Management Co. in payment of the May rent, $3,710. (Use two lines to record the transaction. Charge 80% of the rent to Rent Expense—Selling Space and the balance to Rent Expense—Office Space.)
	2	Sold merchandise on credit to Cole Company, Invoice No. 8785, for $6,100 (cost is $4,100).
	2	Issued a $175 credit memorandum to Mercer Co. for defective (worthless) merchandise sold on April 28 and returned for credit. The total selling price (gross) was $4,725.
	3	Received a $798 credit memorandum from Preston Products for the return of merchandise purchased on April 29.
	4	Purchased the following on credit from Davis Supply Co.: merchandise, $37,072; store supplies, $574; and office supplies, $83. Invoice dated May 4, terms n/10 EOM.
	5	Received payment from Mercer Co. for the balance from the April 28 sale less the May 2 return and the discount.
	8	Issued Check No. 3411 to Preston Products to pay for the $7,098 of merchandise purchased on April 29 less the May 3 return and a 2% discount.
	9	Sold store supplies to the merchant next door at their cost of $350 cash.
	10	Purchased $4,074 of office equipment on credit from Davis Supply Co., invoice dated May 10, terms n/10 EOM.
	11	Received payment from Cole Company for the May 2 sale less the discount.
	11	Purchased $8,800 of merchandise from Henley, Inc., invoice dated May 10, terms 2/10, n/30.
	12	Received an $854 credit memorandum from Davis Supply Co. for the return of defective office equipment received on May 10.
	15	Issued Check No. 3412, payable to Payroll, in payment of sales salaries, $5,320, and office salaries, $3,150. Cashed the check and paid the employees.
	15	Cash sales for the first half of the month are $59,220 (cost is $38,200). (Cash sales are recorded daily but are recorded only twice here to reduce repetitive entries.)
	16	Sold merchandise on credit to Cole Company, Invoice No. 8786, for $3,990 (cost is $1,890).
	17	Purchased $13,650 of merchandise from Summit Corp., invoice dated May 14, terms 2/10, n/60.
	19	Issued Check No. 3413 to Henley, Inc., in payment of its May 10 invoice less the discount.
	22	Sold merchandise to Crane Services, Invoice No. 8787, for $6,850 (cost is $4,990), terms 2/10, n/60.
	23	Issued Check No. 3414 to Summit Corp. in payment of its May 14 invoice less the discount.
	24	Purchased the following on credit from Davis Supply Co.: merchandise, $8,120; store supplies, $630; and office supplies, $280. Invoice dated May 24, terms n/10 EOM.
	25	Purchased $3,080 of merchandise from Preston Products, invoice dated May 23, terms 2/10, n/30.
	26	Sold merchandise on credit to Crank Corp., Invoice No. 8788, for $14,210 (cost is $8,230).
	26	Issued Check No. 3415 to Perennial Power in payment of the May electric bill, $1,283.
	29	The owner Jenny Spark, used Check No. 3416 to withdraw $7,000 cash from the business for personal use.
	30	Received payment from Crane Services for the May 22 sale less the discount.
	30	Issued Check No. 3417, payable to Payroll, in payment of sales salaries, $5,320, and office salaries, $3,150. Cashed the check and paid the employees.
	31	Cash sales for the last half of the month are $66,052 (cost is $42,500). ________________________________________________________________________________ General Journal GENERAL JOURNAL       Date      Account Titles and Explanation Debit Credit May 1 Rent Expense- Selling Space 2968 Rent Expense- Office Space 742 Cash 3710 Paid May's rent May 2 Accounts Receivable- Cole 6100 Sales Revenue 6100 Cost of Goods Sold 4100 Merchandise Inventory 4100 Merchandise Sales on credit May 2 Sale Returns 175 Accounts Receivable (Mercer Co) 175        Credit Memorandum Raised May 3 Accounts Payable (preston Products) 798 Purchase Returns 798 Credit Memorandum Raised May 4 Merchandise 37,072 Store Supplies 574 Office Supplies 83 Account Payable ( Davis Co.) 37,729 Purchased stock from Davis Co. on Account May 5 Cash or Bank (4725-175)*98% 4,459 Discount (4,725-175)*2% 91 Accounts Receivable (Mercer Co.) 4,550 Cash received in settlement of credit sale May   8 Account Payable (Preston Co.) 6,300 Bank (7,098-798)*98% 6,174 Discount received (7,098-798)*2% 126 Cash paid in settlement of credit Purchase May 9 Account Reveivable 350 Sales 350 Sold store supplies to merchant nedt door for 350 May 10 Office Equipment 4074 Account Payable ( Davis Sup CO) 4074 Purchased office equipment on credit May 11 Cash (6,100)898% 5978 Disount (6,1000)*98% 122 Account Reveivable ( Cole CO ) 6,100 Cash received in settlement of credit May 11 Merchandise 8,800 Account Payable (Henley Co) 8,800 Purchased Stock on Credit May 12 Davis Supply Co. (Account Payable) 854 Office Equipment 854 Defective Equipment returned Mary 15 Sales Salaries 5,320 Office Salaries 3,150 Bank A/c 8,470 Issued check for pmt of salaries May 15 Cash 59,220 Sales 59,220 Cash Sales For Half Month May 16 Account Recevable (Cole Company) 3,990 Sales 3,990 Sold merchandise on credit May 17 Merchandise 13,650 Account payable (Summit Corp) 13,650 Purchase merchandise on account May 19 Account payable (Henley Co) 8,800 Bank A/c (8800)*98% 8,624 Discount received (8800)*2% 176 Cash paid in settlement of credit Purchase Mayy 22 Account Receivable (Crane Services) 6,850 Sales 6,850 Sale of merchandise on account May 23 Account Payable (Summit Corp) 13,650 Bank A/c (13,650)*98% 13,377 Disount received (13650)*2% 273 Cash paid in settlement of credit purchase May 24 Merchandise 8,120 Store Supplies 630 Office Supplies 280 Account Payable (Davis Co) 9,030 Purchased stock from Davis Co on Account May 25 Merchandise 3,080 Account Payable (Preston Co) 3080 Purchased stock from Davis Co on account May 26 Account Payable (Crank Corp) 14,210 Sales 14,210 Sale of merchandise on account May 26 Electricity Expense 1,283 Bank A/c 1,283 Paid to Perennial power for electricity May 29 Jenny Spark 7,000 Bank A/c 7,000 Cash withdrawn for personal use May 11 Cash or Bank A/c (6850)*98% 6,713 Discount (6850)*98% 137 Account receivable (Crane Services) 6,850 Cash received in settlement of credit sale May 15 Sales Salaries 5,320 Office Salaries 3,150 Bank A/c 8,470 Issued check for pmt of salaries May 15 Cash 66,052 Sales 66,052 Cash sales for half month

Answer 1

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Givine below trial, however since opening balance not given, it is only for the month:

Account	Debit	Credit
Cash	85,314.00
Accounts Receivable		385.00
Merchandise Inventory	66,622.00
Office Equipment	3,220.00
Office Salaries	6,300.00
Office Supplies	363.00
Store Supplies	1,204.00
Accounts Payable		31,751.00
Drawing, Jenny Spark	7,000.00
Sales Revenue		156,772.00
Sales Return	175.00
Purchase Return		798.00
Discount Received		575.00
Discount Given	350.00
COGS	4,100.00
Electricity Expense	1,283.00
Rent Expense- Office Space	742.00
Rent Expense- Selling Space	2,968.00
Sales Salaries	10,640.00
Grand Total	232507	232507