As of January 1, the ledger of Sparkles Gift Shop showed Cash $4,270, Inventory $6,700 and Owner's Capital of $10,970. The following transactions occurred during January.

Jan. 6		Purchased t-shirts from Cheyenne Co. $2,300, terms 4/10, n/60.
8		Paid freight on Cheyenne Co. purchases $101.
12		Received credit from Cheyenne Co. for merchandise returned $600.
13		Purchased magnets and other inventory on account from Glitter Sportswear Corporation $1,100, terms 2/10, n/30.
15		Paid Cheyenne Co. in full.
20		Received credit from Glitter Corporation for merchandise returned $200.
23		Paid Glitter Corporation in full.

Journalize the transactions using a perpetual inventory system.

Enter the beginning balances in the ledger accounts and post the January transactions using T-accounts.