110	Cash	177,100
111	Petty Cash	100
113	Accounts Receivable	73,500
114	Allowance for Doubtful Accounts	2,205
115	Merchandise Inventory	169,000
114	Office Supplies	500
120	Land	50,000
130	Building	150,000
131	Accumulated Depreciation - Building	417
140	Store Fixtures	10,000
141	Accumulated Depreciation - Store Fixtures	167
150	Delivery Truck	-
151	Accumulated Depreciation - Delivery Truck	-
160	Investment in XYZ Company	-
210	Accounts Payable	110,000
230	Cash Dividends Payable	-
235	Notes Payable	-
238	Interest Payable	-
240	Bond Payable	-
245	Discount on Bond Payable	-
310	Common Stock, $1 Par Value	25,000
311	Paid-in Capital in Excess of Par - Common Stock	475,000
312	Paid-in Capital - Treasury Stock	1,500
320	Retained Earnings	18,912
330	Treasury Stock (200sh @ $15)	3,000
340	Cash Dividends
410	Sales
510	Cost of Merchandise Sold
520	Advertising Expense
521	Office Supplies Expense
522	Depreciation Expense - Building
525	Depreciation Expense - Store Fixtures
526	Depreciation Expense - Delivery Truck
530	Utilities Expense
535	Bad Debt Expense
540	Office Supplies Expense
550	Misc Expense
555	Interest Expense
560	Income of XYZ Company

After a physical count of inventory, it was determined that $238,700 of inventory exists at January 31.

Based on an analysis of A/R, ABC Company anticipates 3% of A/R to be uncollectible.

Buildings were purchased on Dec 1 of the prior year and are depreciated using the straight line method with no salvage value for 30 years. Round to the nearest dollar. ABC Corporation uses the mid-month convention for to calculate depreciation on all fixed assets (round to the nearest month).

Store Fixtures were purchased on Dec 1 of the prior year and are depreciated using the straight-line method with no salvage value for 5 years. Round to the nearest dollar. ABC Corporation uses the mid-month convention for to calculate depreciation on all fixed assets (round to the nearest month).

Delivery Truck is depreciated using the straight-line method with no salvage value. The estimated life of the truck is 6 years. Round to the nearest dollar. ABC Corporation uses the mid-month convention for to calculate depreciation on all fixed assets (round to the nearest month).

Amortize the discount on bond payable using the straight-line method.

Journalize accrued interest on note payable at the end of January.

Counted office supplies and supplies on hand is $350.

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