Record the appropriate adjusting entries using the data below and extend the balances over to the adjusted trial balance columns.

1. Use the following information to complete the partial worksheet for Bill’sCompany. Record the appropriate adjusting entries using the data below andextend the balances over to the adjusted trial balance columns. Merchandise inventory—ending $10 Store supplies on hand 3 Depreciation on store equipment 2 Accrued salaries 1                                                                                           (Chart)                                    Bill’s CompanyPartial WorksheetFor the Year Ended December 31st, 2012                                    Account Titles          Trial Balance           Adjustments         AdjustedTrial Balance                                                                        Debit /Credit             Debit /Credit                Debit /Credit                                   Merchandise Inv.          16                                   Store Supplies              10                                   Store Equipment           20                                   Accum. Depr. StoreEquip.         6                                    Salaries Payable                                   Income Summary                                   Salary Expense            10                                  Depreciation Expense                                  Store Supplies Exp.2.The Bixby Co. had the following transactions involving the purchase ofmerchandise. Prepare the necessary general    journal entries. Any applicablefreight costs are prepaid by the seller. The perpetual inventory method is in use.June 16        Purchased merchandise having a price of $6,000 from theShelby Manufacturing Co. on account with credit                             terms 10, n/30.Transportation terms F.O.B destination.June 16        Purchased merchandise having a price of $9,000 from theAjax Supply House on account with credit terms                              2/10, n/30.Transportation terms F.O.B shipping point. The freight costs were$175.June 17        Received the goods from Shelby. June 17        Received the goods from Ajax.June 20       Returned for credit merchandise with an invoice price of $800 toAjax. June 25       Paid Shelby the amount owed. June 28       Paid Ajax the amount owed. June 30       Returned for cash, merchandise with an invoice price of $400 toShelby.Prepare the necessary general journal entry for June 16, Purchased merchandisehaving a price of $6,000 from the Shelby Manufacturing Co. on account withcredit terms 2/10, n/30. Transportation terms F.O.B destination. _____________________________________ __________ __________ _____________________________________ __________ __________ _____________________________________ __________ __________Prepare the necessary general journal entry for June 17, Received the goods fromShelby. _____________________________________ __________ __________ _____________________________________ __________ __________ _____________________________________ __________ __________Prepare the necessary general journal entry for June 25. _____________________________________ __________ __________ _____________________________________ __________ __________ _____________________________________ __________ __________Prepare the necessary general journal entry for June 28. _____________________________________ __________ __________ _____________________________________ __________ __________ _____________________________________ __________ __________