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Selected transactions completed by Gampfer Company during its first fiscal

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Comprehensive Problem 3 Selected transactions completed by Gampfer Company during its first fiscal year ending December 31 were as follows:

Jan. 2. Issued a check to establish a petty cash fund of $3,200.

Mar. 14. Replenished the petty cash fund, based on the following summary of petty
cash receipts: offi ce supplies, $1,200; miscellaneous selling expense, $410;
miscellaneous administrative expense, $620.

Apr. 21. Purchased $22,400 of merchandise on account, terms 1/10, n/30. The perpetual
inventory system is used to account for inventory.

May 20. Paid the invoice of April 21 after the discount period had passed.
23. Received cash from daily cash sales for $15,120. The amount indicated by the
cash register was $15,152.

and so on

Instructions:

1. Journalize the selected transactions.

2. Based on the following data, prepare a bank reconciliation for December of the
current year

3. Based on the bank reconciliation prepared in (2), journalize the entry or entries to be
made by Gampfer Company.

4. Based on the following selected data, journalize the adjusting entries as of December
31 of the current year

5. Based on the following information and the post-closing trial balance shown below,
prepare a balance sheet in report form at December 31 of the current year.

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