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need help as soon as possible the deadline is approching. the red boxes are incorrect for both the janurary transactions and adjustments

Sheridan Ltd. is a small wbolesaler of restaurant supplies. The company's post-closing trial balanceat December 31,2020 , the end of The company had the following transactions during January 2021. When recording these transactions, use the item number listed instead of the date and also use that same item number if recording a subsequent adjustment pertaining to that item. 1. The bank loan bears interest at 4% and requires monthly fixed pxyments of $12.000 including interest on the first day of the month. The company properly accrued interest on the loan at the end of 2020 . A loan payment was made on January 1, 2021, and the principal portion of that $12.000 payment was $8,000. 2. Accrued interest on the bankloan for the month of January 2021. 3. Early in January 2021 , the company paid for a one-year insurance policy on equipment for $24,000 4. Equipment has a useful life of five years and is depreciated on a double diminishing-balance basis. 5. All of the payroll-related liabilitles were paid off in early January 2021. 63. At the end of January, salaries for that month were paid out. Gross salaries were $290.000 and amounts withheld from the employees' paycheques included the related employee income tax of $50,000,CPP of $14,775, and El of $4.698. 66. In addition to these amounts, the employer was required to contribute $14,775 to CPP and $6,577 to EI. The salaries were paid but no amounts were remitted to the government regarding the salaries for January. 7. Paida $9,000 income taxinstalment: 8. Sales for the month of January were $880,000 and the cost of the inventory sold was $220,000, The company uses an perpetual irwentory system. All sales were oncredit. The company expects a 5% return tate. 9. Acoounts receivable collected during the month were $780000. 10. A customer owins the company $16,000 went bankrupt during January 8. Sales for the month of Jamuary were $880,000 and the cost of the inventory sold was $220,000. The company uses a perpetial inventory system. All sales were on credit. The company expects a 5% return rate. 9. Accountsrecrivable collocted during the month were $780,000. 10. A customer owing the company $16,000 went bankrupt during January. 11. Reviewed outstanding accounts recelvable. Determined, through an aging of accounts, that doubtful accounts were $30,000 at month end. 12a Inventory costing $230,000 was purchased in Janeary on credit. 12h. Office expenses of $44,000 were incurred on credit. 13. During the month of January. accounts payable amounting to $304,000 were paid. 14. The provisions at December 31,2020 , consisted of estimated damages from a lawsult. In January, legal counsel felt that. an additional $25,000 of damages had become probable that month. Any expenses relating to these damages are recorded in administrative expenses. 15. Deferred revenue consists of deposits from customers recelved in advance. No new deposits were received in January but by the end of the month, management has estimated that deferred revenue at that time should be $8,000. Products sold to these customers that paid deposits cost 25% of the price they were sold at. 16. The company accepted product returns from credit customers in January. The sales value of these products was $36,000 and the company just reduced the recelvable from the customer when the product was returned. The products returned were not damaged and cost 25% of the price they were sold at. 17. The company declared and paid dividends amounting to $5,000 in January. Record the January transactions and adjustments. FCredit acoount tiles are culomoticolly indentad when the omount is entered. Do not indent mawolhy if no entry is requled, select "No Entry' for the ocoount tides ond enter Ofor the omount: Lht ell debit entries before geditentries. 220527 6b. 7. income tac Epense 8a. (To record sales) 86. (To record Cost of Goods Sold) 9. Cash Accounts Receivable 10 Allowince for Doubiful Accounts 10 Allwance for Doubtrul Aceounts 16000 Accounts receivable 11. 12a. Invertory \begin{tabular}{|r|r|} \hline 230000 \\ \hline \end{tabular} Accounts Payable 230000 12b. Administrative Experses \begin{tabular}{|} 4 & 4000 \\ \hline \end{tabular} Accounts Payable 13. \begin{tabular}{|l|l|l|} \hline Accounts Payable & 304000 \\ \hline \end{tabular} 16. Accounts Receivable inventory Estimated inventocy Retums 17. bividends becared Adjustments:- Sheridan Ltd. is a small wbolesaler of restaurant supplies. The company's post-closing trial balanceat December 31,2020 , the end of The company had the following transactions during January 2021. When recording these transactions, use the item number listed instead of the date and also use that same item number if recording a subsequent adjustment pertaining to that item. 1. The bank loan bears interest at 4% and requires monthly fixed pxyments of $12.000 including interest on the first day of the month. The company properly accrued interest on the loan at the end of 2020 . A loan payment was made on January 1, 2021, and the principal portion of that $12.000 payment was $8,000. 2. Accrued interest on the bankloan for the month of January 2021. 3. Early in January 2021 , the company paid for a one-year insurance policy on equipment for $24,000 4. Equipment has a useful life of five years and is depreciated on a double diminishing-balance basis. 5. All of the payroll-related liabilitles were paid off in early January 2021. 63. At the end of January, salaries for that month were paid out. Gross salaries were $290.000 and amounts withheld from the employees' paycheques included the related employee income tax of $50,000,CPP of $14,775, and El of $4.698. 66. In addition to these amounts, the employer was required to contribute $14,775 to CPP and $6,577 to EI. The salaries were paid but no amounts were remitted to the government regarding the salaries for January. 7. Paida $9,000 income taxinstalment: 8. Sales for the month of January were $880,000 and the cost of the inventory sold was $220,000, The company uses an perpetual irwentory system. All sales were oncredit. The company expects a 5% return tate. 9. Acoounts receivable collected during the month were $780000. 10. A customer owins the company $16,000 went bankrupt during January 8. Sales for the month of Jamuary were $880,000 and the cost of the inventory sold was $220,000. The company uses a perpetial inventory system. All sales were on credit. The company expects a 5% return rate. 9. Accountsrecrivable collocted during the month were $780,000. 10. A customer owing the company $16,000 went bankrupt during January. 11. Reviewed outstanding accounts recelvable. Determined, through an aging of accounts, that doubtful accounts were $30,000 at month end. 12a Inventory costing $230,000 was purchased in Janeary on credit. 12h. Office expenses of $44,000 were incurred on credit. 13. During the month of January. accounts payable amounting to $304,000 were paid. 14. The provisions at December 31,2020 , consisted of estimated damages from a lawsult. In January, legal counsel felt that. an additional $25,000 of damages had become probable that month. Any expenses relating to these damages are recorded in administrative expenses. 15. Deferred revenue consists of deposits from customers recelved in advance. No new deposits were received in January but by the end of the month, management has estimated that deferred revenue at that time should be $8,000. Products sold to these customers that paid deposits cost 25% of the price they were sold at. 16. The company accepted product returns from credit customers in January. The sales value of these products was $36,000 and the company just reduced the recelvable from the customer when the product was returned. The products returned were not damaged and cost 25% of the price they were sold at. 17. The company declared and paid dividends amounting to $5,000 in January. Record the January transactions and adjustments. FCredit acoount tiles are culomoticolly indentad when the omount is entered. Do not indent mawolhy if no entry is requled, select "No Entry' for the ocoount tides ond enter Ofor the omount: Lht ell debit entries before geditentries. 220527 6b. 7. income tac Epense 8a. (To record sales) 86. (To record Cost of Goods Sold) 9. Cash Accounts Receivable 10 Allowince for Doubiful Accounts 10 Allwance for Doubtrul Aceounts 16000 Accounts receivable 11. 12a. Invertory \begin{tabular}{|r|r|} \hline 230000 \\ \hline \end{tabular} Accounts Payable 230000 12b. Administrative Experses \begin{tabular}{|} 4 & 4000 \\ \hline \end{tabular} Accounts Payable 13. \begin{tabular}{|l|l|l|} \hline Accounts Payable & 304000 \\ \hline \end{tabular} 16. Accounts Receivable inventory Estimated inventocy Retums 17. bividends becared Adjustments

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