$1)$ Prepare the January Transactions in Good form

$2)$ Post those to a Worksheet $($I would recommend you posting first to T$-$Accounts as a tool but that is totally optional and will not weigh on your points for the exam$)$

$3)$ Calculate an Unadjusted Trial Balance in the worksheet

$4)$ Do the adjusting entries in good form at the End of January

$5)$ Post those to your worksheet

$6)$ Complete the worksheet for the adjusted Trial balance, income statement columns and the balance sheet columns

$7)$ Prepare the formal financial statements other than cash flow for the Month ended January $31,2024$

$8)$ Prepare the closing entries and post them to the worksheet at January $31,2024$

$9)$ prepare the post$-$close Trial balance on the worksheet at January $31,2024$

The following transactions occurred during January $2024$ and early part of February:

Jan. $1$ Sold merchandise for cash, $$5,000.$ The cost of the merchandise was $$2,000.$ The company uses the perpetual inventory system.

$2$ Purchased a two year insurance policy for $$3,200$

$2$ Purchased equipment on account for $$9,000$ from the Strong Company with zero Salvage value and $5$ yr life, the existing equipment has a $4$ yr life, all depr on SL basis

$3$ The Compnay sold $1000$ shares $$1$ Par Value stock to their owners in the total amount of $$40,000$

$4$ Received a $$200$ invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January $2.$

$8$ Sold merchandise on account for $$8,000.$ The cost of the merchandise was $$3,600.$

$10$ Purchased merchandise on account for $$18,000.$

$13$ Purchased equipment for cash, $$1400$ with a $7$ yr life depr on the SL basis

$15$ Rec'd $$10000$ from a customer for Merchandise to be purchased by the customer over the next $30$ days with a cost of $$5000,60\%$ of which was delivered by the end of the month.

$15$ Took out a $$10,000$ note payable due at the end of $60$ days with interest payable at that time of $6\%$

$16$ Paid the entire amount due to the Strong Company.

$18$ Received $$5,000$ from customers on account.

$20$ Paid $$5,600$ to the owner of the building for January$$s and February rent.

$30$ Paid employees $$8,000$ for salaries for the month of January.

$31$ Paid a cash dividend of $$4000$ to shareholders.

Note: the federal and state corporate income tax rate is $25\%$

$2/1/2024$: $1$ Billed January Sales to customers for $$12000$ with a cost of $$6000$

$2$ Rec'd the January Utility Bill of $$1200$

$3$ Purchased Merchandise for $$6000$ cash