closing trial balance for Horner Autos is shown below The Problems 7-39 2. Joumailmapil; Hormer Autos Post-Closing Trial Balance December 31, 2019 Debit 41.500 Accounts Receivable Notes Receivable Inventory Equipment 45.000 acumulated Depreciation 23.000 6.450 Equipment Accounts Payable Ouner's Capital 1.500 43.000 130.950 1.950 ledgers contain the following information (1) accounts receivable B. Hannigan 1500, and T. Hodges 5.00002) accounts payable wa 12.000, D, Danford Tuver 13.000. The cost of all merchandise sold was 60of the sales price. C and K. The actions for January 2020 are as follows 12 11 14 13 17 18 30 23 34 Sell merchandise to M. Ziesmer 8.000 rms 10 /10 -S i ournal (selling) Purchase merchandise from E. Pheat 2,000, terms 3/10,30.> Porche Resive a check from T. Hodges 1.500.Cash receipr Journal Pay freight on merchandise purchased 100 Pay rent of 1,000 for January Receive payment in full from M. Zice Post all entries to the subsidiary ledgers, issued credit of 300 B Hannigan for returned merchandise Send K. Thayer a check for 12,870 in full payment of account, discount 130 Purchase merchandise from G. Roland 1,600. terms 10.30 Pay sales salaries of 2.800 and office salaries 2.00 Give D Danford a 60-day note for 18.000 in full payment of account payable. Total cash sales amount to 9.100. Post all entries to the subsidiary ledgers. Sell merchandise on account to L. Kirk 7.400, terms 1/10, 1/30. Send E. Pheatt a check for 950. Receive payment on a note of 40.000 from B. Stout Post all entries to the subsidiary ledgers. Return merchandise of 300 to G, Roland for credit 27 29 30 Instructions Open general and subsidiary ledger accounts for the following 101 Ch 301 Owner's Capital 112 Accounts Receivable 401 Sales Revenue 115 Notes Receivable 412 Sales Returns and Allowances 414 Sales Discounts 505 Cost of Goods Sold 158 Accumulated Depreciation Equipment 726 Salaries and Wages Expense 200 Notes Payable 729 Rent Expense 201 Accounts Payable 120 Inventory 1S7 Equipment Record the Jani ra the January transactions in a sales journal, a single-column purchases journal, a cash re. Journal (see Illustration 7,9). a cash payments journal (see Illustration 7.16), and a general b. Sales journal 15,400 Purchases journal 3,600 Cash receipts journal (balancing) 66,060 Cash payments journal (balancing) 20,050 d. Totals 144,800 e. Accounts Receivable 18,600 Accounts Payable 14,350 Post the appropriate a Prepare a trial balan Determine whe the appropriate amounts to the general ledger are a trial balance at January 31, 2020. e whether the subsidiary ledgers agree with controlling accounts in the general ledger closing trial balance for Horner Autos is shown below The Problems 7-39 2. Joumailmapil; Hormer Autos Post-Closing Trial Balance December 31, 2019 Debit 41.500 Accounts Receivable Notes Receivable Inventory Equipment 45.000 acumulated Depreciation 23.000 6.450 Equipment Accounts Payable Ouner's Capital 1.500 43.000 130.950 1.950 ledgers contain the following information (1) accounts receivable B. Hannigan 1500, and T. Hodges 5.00002) accounts payable wa 12.000, D, Danford Tuver 13.000. The cost of all merchandise sold was 60of the sales price. C and K. The actions for January 2020 are as follows 12 11 14 13 17 18 30 23 34 Sell merchandise to M. Ziesmer 8.000 rms 10 /10 -S i ournal (selling) Purchase merchandise from E. Pheat 2,000, terms 3/10,30.> Porche Resive a check from T. Hodges 1.500.Cash receipr Journal Pay freight on merchandise purchased 100 Pay rent of 1,000 for January Receive payment in full from M. Zice Post all entries to the subsidiary ledgers, issued credit of 300 B Hannigan for returned merchandise Send K. Thayer a check for 12,870 in full payment of account, discount 130 Purchase merchandise from G. Roland 1,600. terms 10.30 Pay sales salaries of 2.800 and office salaries 2.00 Give D Danford a 60-day note for 18.000 in full payment of account payable. Total cash sales amount to 9.100. Post all entries to the subsidiary ledgers. Sell merchandise on account to L. Kirk 7.400, terms 1/10, 1/30. Send E. Pheatt a check for 950. Receive payment on a note of 40.000 from B. Stout Post all entries to the subsidiary ledgers. Return merchandise of 300 to G, Roland for credit 27 29 30 Instructions Open general and subsidiary ledger accounts for the following 101 Ch 301 Owner's Capital 112 Accounts Receivable 401 Sales Revenue 115 Notes Receivable 412 Sales Returns and Allowances 414 Sales Discounts 505 Cost of Goods Sold 158 Accumulated Depreciation Equipment 726 Salaries and Wages Expense 200 Notes Payable 729 Rent Expense 201 Accounts Payable 120 Inventory 1S7 Equipment Record the Jani ra the January transactions in a sales journal, a single-column purchases journal, a cash re. Journal (see Illustration 7,9). a cash payments journal (see Illustration 7.16), and a general b. Sales journal 15,400 Purchases journal 3,600 Cash receipts journal (balancing) 66,060 Cash payments journal (balancing) 20,050 d. Totals 144,800 e. Accounts Receivable 18,600 Accounts Payable 14,350 Post the appropriate a Prepare a trial balan Determine whe the appropriate amounts to the general ledger are a trial balance at January 31, 2020. e whether the subsidiary ledgers agree with controlling accounts in the general ledger