Brittney Bethany, a professional fitness trainer, operates Healthy Body Gym. At the beginning of the year, the ledger had a balances in the following accounts cash of $2,500, Inventory $3,500, and Owners Capital $6,000. The following transactions were completed during January.

Jan. 5) Purchased weights, water bottles and work out gear on account from Panther Co. $1,500, FOB shipping point, terms 2/10, n/60.

Jan. 9) Received credit from Panther Co. for merchandise returned $100.

Jan. 10) Sold merchandise on account to members $1,100, terms n/30. The merchandise sold had a cost of $810.

Jan.12) Purchased athletic shoes, jackets, leggings and other accessories on account from Boseman Sportswear $860, terms 1/10, n/30.

Jan.14) Paid Panther Co. in full, less discount.

Jan.17) Received credit from Boseman Sportswear for merchandise returned $60.

Jan.20) Made sales on account to members $700, terms n/30. The cost of the merchandise sold was $490.

Jan. 21) Paid Boseman Sportswear in full, less discount.

Jan. 27) Granted an allowance to members for clothing that did not fit properly $40.

Jan. 30) Received payments on account from members $1,000.

The chart of accounts for the pro shop includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 301 Owners Capital, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 505 Cost of Goods Sold.

Instructions

Journalize the January transactions using a perpetual inventory system.