Suppose the following items were taken from the december 31, 2017, assets section of the waterway industries balance sheet. (all dollars are in millions.)inventory $17,330 patents $13,390notes receivable—due after december 31, 2018 5,490 buildings 21,590notes receivable—due before december 31, 2018 385 cash 8,700accumulated depreciation—buildings 12,530 accounts receivable 5,670debt investments (short-term) 1,670prepare the assets section of a classified balance sheet. (list the current assets in order of liquidity.)waterway industriespartial balance sheetsuppose the following items were taken from the de for the month ended december 31, 2017for the year ended december 31, 2017december 31, 2017(in millions)assetssuppose the following items were taken from the de stockholders' equitytotal liabilitiestotal intangible assetstotal long-term liabilitiestotal assetstotal liabilities and stockholders' equityproperty, plant and equipmenttotal long-term investmentscurrent assetstotal property, plant and equipmentcurrent liabilitiestotal stockholders' equityintangible assetslong-term investmentslong-term liabilitiestotal current liabilitiestotal current assets

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."