Blossom Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger. Balances related to both he general ledger and the subsidiary ledgers for Blossom are indicated in the working papers presented below. Also following are a series of transactions fo Blossom 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.

Jan. 3 Sell merchandise on account to B. Corpas $3,600, invoice no. 510, and to J. Revere $1,600, invoice no. 511. 5 Purchase merchandise from 5. Gamel $6,000 and D. Posey $2,600, terms n/30. 7 Receive checks from 5. Mahay $3,800 and B. Santos $2,000 after discount period has lapsed. 8 Pay freight on merchandise purchased $245. 9 Send checks to S. Meek for $9,000 less 2% cash discount, and to D. Saito for $8,000 less 1% cash discount. 9 Issue credit of $300 to J. Revere for merchandise returned. 10 Daily cash sales from January 1 to January 10 total $16,500. Make one journal entry for these sales. 11 Sell merchandise on account to R. Beltre $1,400, invoice no. 512, and to S. Mahay $900, invoice no. 513. 12 Pay rent of $1,600 for January. 13 Receive payment in full from B. Corpas and J. Revere less cash discounts. 15 Withdraw $800 cash by M. Blossom for personal use. 15 Post all entries to the subsidiary ledgers. 16 Purchase merchandise from D. Saito $14,000, terms 1/10,n/30;5. Meek $14,000, terms 2/10,n/30; and S. Gamel $1,100, terms n/30. 17 Pay $700 cash for office supplies. 18 Return $400 of merchandise to 5 . Meek and receive credit. 20 Daily cash sales from January 11 to January 20 total $21,100. Make one journal entry for these sales. 21 Issue $16,000 note, maturing in 90 days, to R. Moses in payment of balance due. 21 Receive payment in full from S. Mahay less cash discount. 22 Sell merchandise on account to B. Corpas $2,700, invoice no. 514, and to R. Beltre $2,000, invoice no. 515 . Prepare a owner's equity statement for January. (List items that increase owner's equity first.) \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ GENERAL LEDGER } \\ \hline AccountNumber & \multicolumn{2}{|c|}{ Account Title } & January1OpeningBalance \\ \hline 101 & \multicolumn{2}{|c|}{ Cash } & $34,000 \\ \hline 112 & \multicolumn{2}{|c|}{ Accounts Receivable } & 12,900 \\ \hline 115 & \multicolumn{2}{|c|}{ Notes Receivable } & 42,000 \\ \hline 120 & \multicolumn{2}{|c|}{ Inventory } & 15,000 \\ \hline 126 & \multicolumn{2}{|c|}{ Supplies } & 1,200 \\ \hline 130 & \multicolumn{2}{|c|}{ Prepaid Insurance } & 1,500 \\ \hline 157 & \multicolumn{2}{|c|}{ Equipment } & 8,250 \\ \hline 158 & \multicolumn{2}{|c|}{ Accumulated Depreciation-Equip. } & 1,600 \\ \hline 201 & \multicolumn{2}{|c|}{ Accounts Payable } & 33,000 \\ \hline 301 & \multicolumn{2}{|c|}{ Owner's Capital } & 80,250 \\ \hline \multicolumn{4}{|c|}{ScheduleofAccountsReceivable(fromaccountsreceivablesubsidiaryledger)} \\ \hline Custon & \multicolumn{2}{|c|}{January1OpeningBalance} & \\ \hline R. Beltre & & $1,700 & \\ \hline B. Santos & & 7,400 & \\ \hline S. Mahay & & 3,800 & \\ \hline \end{tabular} Jan. 3 Sell merchandise on account to B. Corpas $3,600, invoice no. 510, and to J. Revere $1,600, invoice no. 511. 5 Purchase merchandise from 5. Gamel $6,000 and D. Posey $2,600, terms n/30. 7 Receive checks from 5. Mahay $3,800 and B. Santos $2,000 after discount period has lapsed. 8 Pay freight on merchandise purchased $245. 9 Send checks to S. Meek for $9,000 less 2% cash discount, and to D. Saito for $8,000 less 1% cash discount. 9 Issue credit of $300 to J. Revere for merchandise returned. 10 Daily cash sales from January 1 to January 10 total $16,500. Make one journal entry for these sales. 11 Sell merchandise on account to R. Beltre $1,400, invoice no. 512, and to S. Mahay $900, invoice no. 513. 12 Pay rent of $1,600 for January. 13 Receive payment in full from B. Corpas and J. Revere less cash discounts. 15 Withdraw $800 cash by M. Blossom for personal use. 15 Post all entries to the subsidiary ledgers. 16 Purchase merchandise from D. Saito $14,000, terms 1/10,n/30;5. Meek $14,000, terms 2/10,n/30; and S. Gamel $1,100, terms n/30. 17 Pay $700 cash for office supplies. 18 Return $400 of merchandise to 5 . Meek and receive credit. 20 Daily cash sales from January 11 to January 20 total $21,100. Make one journal entry for these sales. 21 Issue $16,000 note, maturing in 90 days, to R. Moses in payment of balance due. 21 Receive payment in full from S. Mahay less cash discount. 22 Sell merchandise on account to B. Corpas $2,700, invoice no. 514, and to R. Beltre $2,000, invoice no. 515 . Prepare a owner's equity statement for January. (List items that increase owner's equity first.) \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ GENERAL LEDGER } \\ \hline AccountNumber & \multicolumn{2}{|c|}{ Account Title } & January1OpeningBalance \\ \hline 101 & \multicolumn{2}{|c|}{ Cash } & $34,000 \\ \hline 112 & \multicolumn{2}{|c|}{ Accounts Receivable } & 12,900 \\ \hline 115 & \multicolumn{2}{|c|}{ Notes Receivable } & 42,000 \\ \hline 120 & \multicolumn{2}{|c|}{ Inventory } & 15,000 \\ \hline 126 & \multicolumn{2}{|c|}{ Supplies } & 1,200 \\ \hline 130 & \multicolumn{2}{|c|}{ Prepaid Insurance } & 1,500 \\ \hline 157 & \multicolumn{2}{|c|}{ Equipment } & 8,250 \\ \hline 158 & \multicolumn{2}{|c|}{ Accumulated Depreciation-Equip. } & 1,600 \\ \hline 201 & \multicolumn{2}{|c|}{ Accounts Payable } & 33,000 \\ \hline 301 & \multicolumn{2}{|c|}{ Owner's Capital } & 80,250 \\ \hline \multicolumn{4}{|c|}{ScheduleofAccountsReceivable(fromaccountsreceivablesubsidiaryledger)} \\ \hline Custon & \multicolumn{2}{|c|}{January1OpeningBalance} & \\ \hline R. Beltre & & $1,700 & \\ \hline B. Santos & & 7,400 & \\ \hline S. Mahay & & 3,800 & \\ \hline \end{tabular}