ACR7.J (Perpetual Method) Koto Merchants esa perpetual inventory system and both an.com receivable and an accounts payable subsidiary ledger Balances related to both the general ledger and the bildiary lodgen for Kotoare indicated amounts in thousands. Also following are a series of trane tions for Koto for the month of January. Credit sales terme2/10, 1/30. The cod of all merchandie sold was 60% of the sales price GENERAL LEDGER January 1 Opening Balance Rp35.750 13.000 39.000 18.000 Account Number 101 112 115 120 126 1.30 157 158 201 301 1.000 Account Title Cash Accounts Receivable Notes Receivable Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation Equip Accounts Payable Owner's Capital 2,000 6,450 1.500 35.000 78.700 Schedule of Accounts Receivable (from accounts receivable subsidiary ledger) January 1 Opening Customer Balance Bodi Co Rp1,500 Mobede Co. 4.000 Sueba Co 7.500 Schedule of Accounts Payable (from accounts payable subsidiary ledger) January 1 Opening Creditor Balance R. Mawa Rp15.000 Medan Co 9,000 Shihab Co 11.000 Jan 3 Sell merchandise on account to B. Chen Rp3.600, invoice no. 510, and to Tjong Company Rp1.800 invoice no: 511. 5 Purchase merchandise from Goh Co. Rp5,000 and D. Phe Rp2.200, terms 1/30, 7 Receive checks from Mobede Rp4.000 and Sucha Rp2.000 after discount period has lapsed 8 Pay freight on merchandise purchased Rp235 9 Send checks to Medun for Rp9,000 less 2% cash discount, and to Shihab for Rp11.000 less 15 cash discount 9 Issue credit of Rp300 10 Tjong for merchandise returned. 10 Daily cash sales from January 1 to January 10 total Rp 5.500. Make one journal.com for these sales Sell merchandise on account to Bodi Rp1.600, invoice no. 512, and to Mohede Rp900 invoice no. 513 12 Pay rest of Rp1,000 for January 13 Receive payment in full from B. Chen and Tjong less cash discounts. 15 The owner withdrew Rp800 cash. 15 Post all entries to the subsidiary ledgers 16 Purchase merchandise from Shihab Rp15.000 terms 1/10, 1/30, Medan Rp14.000 terms 2/10,n/30; and Goh Rpl 500, terms w/30 17 Pay Rp400 cash for office supplies 18 Return Rp200 of merchandise to Medan and receive credit 20 Daily cash sales from January 11 to January 20 bal Rp20.100. Make noe journal for these sales, 21 Issue Rp15.000 note, maturing in 90 days, to R. Manuwa in payment of balance du 21 Receive payment in full from Mohede las cash discount Jan. 22 22 23 25 Comprehensive A Sell merchandise on account to B. Chen Rp2,700, invoice no. 514, and to Bodi Rp2,300, invoice no. 515. Post all entries to the subsidiary ledgers. Send checks to Shihab and Medan for full payment less cash discounts. Sell merchandise on account to Sueba Rp3,500, invoice no. 516, and to Tjong Rp6,100, invoice no. 517. 27 Purchase merchandise from Shihab Rp14,500, terms 1/10, n/30; D. Phe Rp3,200, terms n/30; and Goh Rp5,400, terms n/30. 27 Post all entries to the subsidiary ledgers. 28 Pay Rp200 cash for office supplies. 31 Daily cash sales from January 21 to January 31 total Rp21,300. Make one journal entry for these sales. 31 Pay sales salaries Rp4,300 and office salaries Rp3,800. Instructions a. Record the January transactions in a sales journal, a single-column purchases journal, a cash re- ceipts 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 Rp900. 2. Insurance coverage expires on October 31, 2020. 3. Annual depreciation on the equipment is Rp1,500. 4. Interest of Rp50 has accrued on the note payable. d. Prepare an income statement and an owner's equity statement for January and a classified statement of financial position at the end of January . Prepare and post adjusting and closing entries. Prepare a post-closing trial balance, and determine whether the subsidiary ledgers agree with the control accounts in the general ledger. ACR7.J (Perpetual Method) Koto Merchants esa perpetual inventory system and both an.com receivable and an accounts payable subsidiary ledger Balances related to both the general ledger and the bildiary lodgen for Kotoare indicated amounts in thousands. Also following are a series of trane tions for Koto for the month of January. Credit sales terme2/10, 1/30. The cod of all merchandie sold was 60% of the sales price GENERAL LEDGER January 1 Opening Balance Rp35.750 13.000 39.000 18.000 Account Number 101 112 115 120 126 1.30 157 158 201 301 1.000 Account Title Cash Accounts Receivable Notes Receivable Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation Equip Accounts Payable Owner's Capital 2,000 6,450 1.500 35.000 78.700 Schedule of Accounts Receivable (from accounts receivable subsidiary ledger) January 1 Opening Customer Balance Bodi Co Rp1,500 Mobede Co. 4.000 Sueba Co 7.500 Schedule of Accounts Payable (from accounts payable subsidiary ledger) January 1 Opening Creditor Balance R. Mawa Rp15.000 Medan Co 9,000 Shihab Co 11.000 Jan 3 Sell merchandise on account to B. Chen Rp3.600, invoice no. 510, and to Tjong Company Rp1.800 invoice no: 511. 5 Purchase merchandise from Goh Co. Rp5,000 and D. Phe Rp2.200, terms 1/30, 7 Receive checks from Mobede Rp4.000 and Sucha Rp2.000 after discount period has lapsed 8 Pay freight on merchandise purchased Rp235 9 Send checks to Medun for Rp9,000 less 2% cash discount, and to Shihab for Rp11.000 less 15 cash discount 9 Issue credit of Rp300 10 Tjong for merchandise returned. 10 Daily cash sales from January 1 to January 10 total Rp 5.500. Make one journal.com for these sales Sell merchandise on account to Bodi Rp1.600, invoice no. 512, and to Mohede Rp900 invoice no. 513 12 Pay rest of Rp1,000 for January 13 Receive payment in full from B. Chen and Tjong less cash discounts. 15 The owner withdrew Rp800 cash. 15 Post all entries to the subsidiary ledgers 16 Purchase merchandise from Shihab Rp15.000 terms 1/10, 1/30, Medan Rp14.000 terms 2/10,n/30; and Goh Rpl 500, terms w/30 17 Pay Rp400 cash for office supplies 18 Return Rp200 of merchandise to Medan and receive credit 20 Daily cash sales from January 11 to January 20 bal Rp20.100. Make noe journal for these sales, 21 Issue Rp15.000 note, maturing in 90 days, to R. Manuwa in payment of balance du 21 Receive payment in full from Mohede las cash discount Jan. 22 22 23 25 Comprehensive A Sell merchandise on account to B. Chen Rp2,700, invoice no. 514, and to Bodi Rp2,300, invoice no. 515. Post all entries to the subsidiary ledgers. Send checks to Shihab and Medan for full payment less cash discounts. Sell merchandise on account to Sueba Rp3,500, invoice no. 516, and to Tjong Rp6,100, invoice no. 517. 27 Purchase merchandise from Shihab Rp14,500, terms 1/10, n/30; D. Phe Rp3,200, terms n/30; and Goh Rp5,400, terms n/30. 27 Post all entries to the subsidiary ledgers. 28 Pay Rp200 cash for office supplies. 31 Daily cash sales from January 21 to January 31 total Rp21,300. Make one journal entry for these sales. 31 Pay sales salaries Rp4,300 and office salaries Rp3,800. Instructions a. Record the January transactions in a sales journal, a single-column purchases journal, a cash re- ceipts 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 Rp900. 2. Insurance coverage expires on October 31, 2020. 3. Annual depreciation on the equipment is Rp1,500. 4. Interest of Rp50 has accrued on the note payable. d. Prepare an income statement and an owner's equity statement for January and a classified statement of financial position at the end of January . Prepare and post adjusting and closing entries. Prepare a post-closing trial balance, and determine whether the subsidiary ledgers agree with the control accounts in the general ledger