# Please dont solve for the journal entires i already got it thanks Required information [The following...

###### Question:

please dont solve for the journal entires i already got it thanks
Required information [The following information applies to the questions displayed below.] Wally's Widget Company (WWC) incorporated near the end of 2011. Operations began in January of 2012. WWC prepares adjusting entries and financial statements at the end of each month, Balances in the accounts at the end of January are as follows: Cash Accounts Receivable Allowance for Doubtful Accounts Inventory (30 units) $13,000$19,520 Unearned Revenue (25 units) $%.$10,550 Accounts Payable (Jan Rent) $1,900$(1.200) Notes Payable $2,100 Contributed Capital Retained Earnings - Feb 1, 5,820 2012$ 5,600 pital . WWC establishes a policy that it will sell inventory at $165 per unit. In January, WWC received a$4.650 advance for 25 units, as reflected in Unearned Revenue. • WWC's February 1 inventory balance consisted of 30 units at a total cost of $2,100. • WWC's note navahle accrues interest at a 12 annual rate Prev 1 of 1 !!! Next ere to search o e @ 83. * • WWC's note payable accrues interest at a 12% annual rate. . WWC will use the FIFO inventory method and record COGS on a perpetual basis. February Transactions Included in WWC's February 1 Accounts Receivable balance is a$1,500 account due from Kit Kat, a WWC customer. Kit Kat is having cash flow problems and 02/01 cannot pay its balance at this time. WWC arranges with Kit Kat to convert the $1,500 balance to a note, and Kit Kat signs a 6-month note, at 8% annual interest. The principal and all interest will be due and payable to WWC on August 1, 2012 2002 WWC paid a$800 insurance premium covering the month of February. The amount paid is recorded directly as an expense. 02/05 105 An additional 170 units of inventory are purchased on account by WWC for $12.750 - terms 2/15,n30. paid Federal Express$340 to have the 170 units of inventory delivered 02/05 overnight. Delivery occurred on 02/06. 02/10 Sales of 140 units of inventory occurred during the period of 02/07 - 02/10. The sales terms are 2/10, net 30. 02/15 The 25 units that were paid for in advance and recorded in January are delivered to the customer 15 units of the inventory that had been sold on 2/10 are returned to WWC. The 02/15 units are not damaged and can be resold. Therefore, they are returned to inventory. Assume the units returned are from the 2/05 purchase 02/16 WWC pays the first 2 weeks wages to the employees. The total paid is $2.800. Paid in full the amount owed for the 2/05 purchase of inventory. WWC records 02:17 purchase discounts in the current period rather than as a reduction of inventory costs 02/18 Wrote off a customer's account in the amount of$1,200.
Required information 1-b. Post all February entries (transactions and adjustments) to the T-accounts. Cash Accounts Receivable Beg bal Beg bal End bal End bal Inventory Allowance for Doubtful Accounts Beg bal Beg bal
Required information Allowance for our Accounts Beg bal. Beg bal End bal End. bal Notes Receivable Interest Receivable Beg bal Beg bal End bal Accounts Payable Uneamed Revenue Beg bal. Bogbal
Required information Beg. bal. Beg bal. End, bal End, bal Accounts Payable Uneamed Revenue Beg bal. Beg bal. End bal End, bal Wages Payable Interest Payable Beg bal Beg bal
Required information Wages Payable Interest Payable Beg bal Beg bali ences End, bal End, bal Notes Payable Contributed Capital Beg bal. Beg bal End bal End, bal Retained Earnings Dividends Declared Beg bal Beg bal
Retained Earnings Dividends Declared Beg. bal. Beg., bal. End bal End bal Sales Revenue Sales Returns & Allowances Beg balf Beg bal. End bal Sales Discounts Cost of Goods Sold Beg bal Beg bal
Reumaton Sales Discounts Cost of Goods Sold Beg bal Beg bal ances End bal End bal Interest Revenue Bad Debt Expense Bog bal. Bog bal End bal End, bal Insurance Expense Interest Expense Beg bal Beg bal
Insurance Expense Interest Expense Beg. bal. Beg bal. End, bal End bal Rent Expense Utility Expense Beg bal Beg bal. End bal End Wages Expense Beg bal

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