Attempt in Progress 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 following are a series of transactions for Jeter Co. for the month of January, Credit sales terms are 2/10, 1/30. The cost of all merchandise sold was 60% of the sales price. GENERAL LEDGER Account Number Account Title January 1 Opening Balance $35.750 101 Cash 112 13,000 Accounts Recevable Notes Receivable 115 39.000 120 Inventory 18.000 126 1,000 130 2,000 157 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equip Accounts Payable 6,450 158 1.500 201 35,000 301 Owner's Capital 78,700 Schedule of Accounts Receivable (from accounts receivable subsidiary ledger) January 1 Opening Balance Customer R. Beltre $1,500 B. Santos 7,500 S. Mahay 4,000 Schedule of Accounts Payable (from accounts payable subsidiary ledger) Customer January 1 Opening Balance S. Meek $9,000 R. Moses 15,000 D. Saito 11,000 Jan 3 5 7 B 9 9 10 11 Sell merchandise on account to B. Carpas $3,600, invoice no. 510, and to J. Revere $1,800, invoice no. 511 Purchase merchandise from S. Gamel $5,000 and D. Posey $2,200, terms 1/30 Receive checks from S. Mahay $4,000 and B. Santos $2.000 after discount period has lapsed. Pay freight on merchandise purchased $235 Send checks to 5. Meek for $9.000 less 2% cash discount, and to D.Salto for $11.000 less 1% cash discount Issue credit of $300 to J. Revere for merchandise returned Dally cash sales from January 1 to January 10 total $15.500. Make one journal entry for these sales Sell merchandise on account to R. Beltre 51,600, invoice no. 512, and to S. Mahay $900, invoice no. 513 Pay rent of $1.000 for January Receive payment in tull from B. Corpas and J. Revere less cash discounts Withdraw $800 cash by M. Jeter for personal use. Post all entries to the subsidiary ledgers Purchase merchandise from D. Salto $15.000, terms 1/10, 1/30; 5. Meek $14,200, terms 2/10, W30; and 5. Gamel $1.500. terms 30 Pay 5400 cash for office supplies Return $200 of merchandise to S. Meek and receive credit Daily Cash sales from January 11 to January 20 total $20.100. Make one journal entry for these sales 12 13 15 15 16 17 18 20 21 sue $15.000 note, maturing in 90 days, to R. Moses in payment of balance due 20 21 21 22 22 23 Daily cash sales from January 11 to January 20 total $20,100. Make one journal entry for these sales. Issue $15,000 note, maturing in 90 days, to R. Moses in payment of balance due. Receive payment in full from S. Mahay less cash discount Sell merchandise on account to B. Corpas $2,700, invoice no. 514, and to R. Beltre $2,300, invoice no. 515. Post all entries to the subsidiary ledgers. Send checks to D. Saito and S. Meek for full payment less cash discounts. Sell merchandise on account to B. Santos $3,500, invoice no. 516, and to J. Revere $6,100, invoice no. 517. Purchase merchandise from D. Saito $14,500, terms 1/10,n/30; D. Posey $3,200, terms n/30; and S. Game $5.400 termsn/30 Post all entries to the subsidiary ledgers. Pay $200 cash for office supplies. Daily cash sales from January 21 to January 31 total $21,300. Make one journal entry for these sales. Pay sales salaries $4,300 and office salaries $3,800. 25 27 27 28 31 31 General Ledger Cash Date Explanation Ref. Debit Credit B Jan. 5 Balance V Jan. 13 : CRI Jan. 22 Accounts Receivable Date Explanation Ref. Debit Credit Balance 2 GI CR1 S1 Notes Receivable Debit Credit Ref. Date Explanation Balance Inventory Date Explanation Ref. Debit Credit B Balance V CP1 .......... MUUNTAAN CR1 CP1 Supplies Ref. Explanation Credit Debit Balance MI CP1 Date Explanation Ref. Debit Credit Balance Equipment Date Explanation Ref. Debit Credit Balance Accumulated Depreciation-Equipment Date Explanation Ref. Debit Credit B Balance Notes Payable Date Explanation Ref. Debit Credit G1 Accounts Payable Date Explanation Ref. Debit Credit B Balance LILI GI Accounts Payable Date Explanation Ref. Debit Credit Balance GI Gi P1 CP1 Owner's Capital Date Ref. Debit Credit Explanation Balance Owner's Drawings Date Explanation Ref. Debit Credit CPI Sales Revenue Date Explanation Ref. Debit Credit RI Sales Revenue Date Explanation Ref. Debit Credit SI CRI Sales Returns and Allowances Date Explanation Ref. Debit Credit G1 300 Jan. 9 Sales Discounts Date Explanation Ref. Debit Credit CR1 Cost of Goods Sold Date Explanation Ref. Debit Credit B GI S1 III CR1 Salaries and Wages Expense Date Explanation Ref. Debit Credit B CP1 Rent Expense Date Explanation Ref. Debit Credit B CP1 Accounts Receivable Subsidiary Ledger R. Beltre Date Explanation Ref. Debit Credit Balance Balance Si S1 J. Revere Date Explanation Ref. Debit Credit Balance Si J. Revere Date Explanation Ref. Debit Credit Balance 1 Si G1 CR1 Si B. Santos Date Explanation Ref. Debit Credit Balance Balance CR1 SI S. Mahey Date Explanation Ref. Debit Credit Balance Balance CR1 S. Mahey Date Explanation Ref. Debit Credit Balance Balance CR1 S1 CR1 B. Corpas Date Explanation Ref. Debit Credit Balance Si CR1 Si Accounts Payable Subsidiary Ledger D. Posey Date Explanation Ref. Debit Credit Balance D. Posey Date Explanation Ref. Debit Credit Balance P1 P1 S. Meek Date Explanation Ref. Debit Credit Balance Balance V CP1 P1 G1 CP1 R. Moses Date Explanation Ref. Debit Credit Balance Balance Gi CP1 R. Moses Date Explanation Ref. Debit Credit Balance Balance G1 D. Saito | Date Explanation Ref. Debit Credit Balance Balance 2 CP1 P1 OOOO NOTE CPI P1 S. Gamel P1 LE CPI P1 S. Gamel Date Explanation Ref. Debit Credit Balance P1 P1 P1 Prepare a trial balance at January 31, 2022, 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, 2022. 3. Annual depreciation on the equipment is $1,500. 4. Interest of $50 has accrued on the note payable. JETERCOMPANY Worksheet For the Month Ended January 31, 2022