a. Record the January transactions in a sales journal, a single-column purchases journal, a cash receipts journal as shown in Illustration 7.9, a cash payments journal as shown in Illustration 7.16, and a two-column general journal.

b. Post the journals to the general ledger. c. Prepare a trial balance at January 31, 2020, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information.

1. Office supplies at January 31 total $900. 2. Insurance coverage expires on October 31, 2020. 3. Annual depreciation on the equipment is $1,500. 4. Interest of $50 has accrued on the note payable. d. Prepare a multiple-step income statement and an owner's equity statement for January and a classified balance sheet at the end of January.

e. Prepare and post adjusting and closing entries.

f. Prepare a post-closing trial balance, and determine whether the subsidiary ledgers agree with the control accounts in the general ledger.

Please help with part b. Thank you.

ACR7.1 (Perpetual Method) Jeter Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger. Balances related to both the general ledger and the subsidiary ledgers for Jeter are indicated in the working papers presented below. Also below are a series of transactions for Jeter Co. for the month of January. Credit sales terms are 2/10,n/30. The cost of all merchandise sold was 60% of the sales price