Kerr Consulting had the following postclosing trial balance at December 31, 2013. Also shown are the account numbers for each account, including the revenue and expense accounts.

302 Alex Kerr, withdrawals
401 Service revenue
402 Sales revenue
501 Cost of goods sold
511 Rent expense
513 Utilities expense
515 Salary expense
521 Amortization expense-equipment
522 Amortization expense-furniture
530 Supplies expense
Consider the January 2014 transactions for Kerr Consulting Company that were presented in Chapter 6. Cost of goods sold, which was calculated using the moving-weighted- average-cost method in a perpetual inventory system, is shown in brackets after each sale.
Jan. 2 Completed a consulting engagement and received cash of $7,200.
2 Prepaid three months' office rent, $9,000.
7 Purchased 100 units of software inventory on account, $1,900, plus freight in, $100.
16 Paid employee salary, $2,000. (Note previous year-end accrual of $500.)
18 Sold 70 software units on account, $3,100 (cost, $1,400).
19 Consulted with a client for a fee of $900 on account.
21 Paid on account, $2,000, for the January 7 purchase.
22 Purchased 200 units of software inventory on account, $4,600.
24 Paid utilities, $300 cash.
28 Sold 100 units of software for cash, $4,000 (cost, $2,261).
31 Recorded the following adjusting entries:
Accrued salary expense, $1,000.
Prepaid rent used, $3,000.
Amortization of office furniture, $100, and of equipment, $33.
Physical count of inventory, 120 units (cost, $22.61 per unit).
Required
1. Open three-column ledger accounts for all the accounts listed in the December 31, 2013 post-closing trial balance, and for the withdrawals, revenue, and expense accounts listed below it. Use the account numbers shown. Insert the December 31, 2013, balances as the opening balances for January 1, 2014.
2. Journalize the January 2014 transactions in the following special journals: cash receipts journal (page 1), cash payments journal (page 1), sales journal (page 1), purchases journal (page 1), and general journal (page 6). Total each special journal at January 31, 2014.
3. Post the special journals totals to the three-column ledger accounts using the special journal posting references used in this chapter.
4. Prepare a trial balance in the Trial Balance columns of a work sheet. Record the January 31, 2014, adjusting entries on the work sheet, then complete the Adjusted Trial Balance columns of the work sheet for the month ended January 31, 2014.
5. Journalize and post the adjusting entries. Explanations are not required.

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KERR CONSULTING Postclosing Trial Balance December 31, 2013 $27,850 101 Cash 102 Accounts receivable 900 103 Software inventory Supplies Prepaid rent Equipment Accumulated amortization-equipment 104 100 105 110 2,000 115 33 120 Furniture 6,000 125 Accumulated amortization-furniture 100 Accounts payable Salary payable 201 6,100 202 500 205 Unearned revenue 1,333 Alex Kerr, capital 301 28,784 Total $36,850 $36,850