Tony Freedman was very happy to see the progress made by using the specialized journals. Effective January 1, 2014, the company obtains an HST number* and so begins to charge HST at 13% on all sales made. The company also pays HST from January 1 on all purchases. The special journals used in Tony’s company have been modified to include columns for HST, and these can be found in the Study Guide with Working Papers, pages 10-79 to 10-92.
The partial January transactions are as follows:

Assignment
1. Journalize the transactions in the appropriate journals (cash receipts, sales, cash payments, purchases, or general journal).
2. Record in the accounts receivable subsidiary ledger and accounts payable subsidiary ledger and post to the general ledger as appropriate. A partial general ledger is included in the Study Guide with Working Papers.
3. Prepare a schedule of accounts receivable, and a schedule of accounts payable as of January 31, 2014.