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Question Answered step-by-step Please answer this I need this today Thank you Image transcription textActivity 1.4 to DEMONSTRATE student’s learning for Step 5: Journalizlng andPosting Adjusting lihttries, the following are required to be done: 1. Journalizethe following adjustments in the books of Charito Couturier Sh… Show more… Show moreImage transcription textACTIVITY SHEET No. 1.4 Journalizing Adjusting Entries Page9DATE PARTICULARS P/R DEBIT CREDIT Dec. 31 InterestReceivable 1 2 5 a. Interest Income 1 2 5 Interest … Show more… Show moreImage transcription textACTIVITY SHEET No. 1.4 Posting Adjusting Entries UsingT-accounts Interest Receivable Interest Income Dec.3 1balance Dec. 31 balance 125 125 Dec. 31 bal… Show more… Show moreImage transcription textBad Debts Expense Allowance for Bad Dec.3 1 balance9,500 Dec. 31 balance Dec. 31 balance Dec. 31 balanceDepreciation Expense Accumulated Deprec… Show more… Show moreImage transcription textCharito Couturier Shop Adjusted Trial Balance December 31,2020 Account Title Debit Credit Cash in Bank P 187,450 PettyCash Fund 10,000 Accounts Receivable 146,000 All… Show more… Show moreImage transcription textActivity 1.5 to DEMONSTRATEstudent’s learning for Step 6: FinancialStatements Preparation R… Show more… Show moreImage transcription textACTIVITY SHEET No. 1.5 Charito Couturier Shop IncomeStatement For the year ended December 31, 2020 ServiceIncome P 2,380,000 Add: Interest Income Total … Show more… Show moreImage transcription textACTIVITY SHEET No. 1.5 Charito Couturier Shop Statement ofFinancial Position December 31, 2020 ASSETS Current AssetsCash (Note 1) Trade and other receivables ( Note 2… Show more… Show moreImage transcription textACTIVITY SHEET No. 1.5 Notes to the Financial Statement Note1: Cash Cash in Bank P Petty Cash Fund 10,000 Total Cash PNote 2: Trade and Other Receivables Accounts Re… Show more… Show moreImage transcription textACTIVITY SHEET No. 1.5 Charito Couturier Shop Statementof Cash Flows For the year ended December 31, 2020Cash flows from operating activities Inflow Ca… Show more… Show moreImage transcription textStep 8: Preparing Post-Closing Trial Balance After closing the books, onlyassets, liabilities and capital (real) accounts are left open in the generalledger of the company. These real account ending balances are … Show more… Show moreImage transcription textActivity 1.6 to DEMONSTRATE student’s learning for Step 7: ClosingEntries Required: Using the Income Statement prepared in ActivitySheet No. 5, record the closing entries required at year … Show more… Show morePlease answer this I need this todayThank you Accounting Business Financial Accounting BUSINESS A 15 Share QuestionEmailCopy link Comments (0)