Credit sales terms are 2 10, n 30 The cost of all merchandise sold was 62 of the sales price Jan 3 Sell merchandise on account to B Richey $2,900, invoice no 510, and to J Forbes $1,800, invoice no 511 5 Purchase merchandise from S Vogel $5,000 and D Lynch $2,200, terms n 30 7 Receive checks from S LaDew $4,000 and B Garcia $2,000 after discount period has lapsed 8 Pay freight on merchandise purchased $235 9 Send checks to S Hoyt for $9,000 less 2 cash discount, and to D Omara for $11,000 less 1 cash discount 9 Issue credit of $300 to J Forbes for merchandise returned 10 Summary daily cash sales total $15,500 11 Sell merchandise on account to R Dvorak $1,600, invoice no 512, and to S LaDew $900, invoice no 513 12 Pay rent of $1,000 for January 13 Receive payment in full from B Richey and J Forbes less cash discounts 15 Withdrawal of $800 cash by J Colorado for her personal use 15 Post all entries to the subsidiary ledgers 16 Purchase merchandise from D Omara $18,000, terms 1 10, n 30 S Hoyt $14,200, terms 2 10, n 30 and S Vogel $1,500, terms n 30 17 Pay $600 cash for office supplies 18 Return $200 of merchandise to S Hoyt and receive credit 20 Summary daily cash sales total $20,100 21 Issue $15,000 note, maturing in 90 days, to R Moses in payment of balance due 21 Receive payment in full from S LaDew less cash discount 22 Sell merchandise on account to B Richey $2,700, invoice no 514, and to R Dvorak $2,800, invoice no 515 22 Post all entries to the subsidiary ledgers 23 Send checks to D Omara and S Hoyt in full payment less cash discounts 25 Sell merchandise on account to B Garcia $3,500, invoice no 516, and to J Forbes $6,100, invoice no 517 27 Purchase merchandise from D Omara $14,500, terms 1 10, n 30 D Lynch $1,200, terms n 30 and S Vogel $5,400, terms n 30 27 Post all entries to the subsidiary ledgers 28 Pay $200 cash for office supplies 31 Summary daily cash sales total $21,300 31 Pay total salaries of $8,100 Following Information Office Supplies at January 31 total $750 Insurance coverage expires on October 31, 2018 Annual depreciation on the equipment is $1,500 Interest of $50 has accrued on the note payable Instructions Fill out the general ledger for the following Cash starting balance 36,895 Accounts Receivable starting balance 13,000 Notes Receivable starting balance 39,000 Inventory starting balance 18,000 Office Supplies starting balance 1,000 Prepaid Insurance starting balance 2,000 Equipment starting balance 6,450 Accumulated Depreciation Equipment starting balance 1,500 Notes Payable Accounts Payable starting balance 35,000 Interest Payable Owner Capital starting balance 79,845 Owner Drawing Income Summary Sales Revenue Sales Return and Allowances Sales Discount COGS Depreciation Expense Interest Expense Insurance Expense Salary Expense Office supplies expense Rent expense The accounts with starting balances are posted, the rest of the accounts did not have a starting balance

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Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 62% of the sales price. Jan.3? Sell merchandise on account to B.

Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 62% of the sales price.

Jan.3?	Sell merchandise on account to B. Richey $2,900, invoice no. 510, and to J. Forbes $1,800, invoice no. 511.
5	Purchase merchandise from S. Vogel $5,000 and D. Lynch $2,200, terms n/30.
7	Receive checks from S. LaDew $4,000 and B. Garcia $2,000 after discount period has lapsed.
8	Pay freight on merchandise purchased $235.
9	Send checks to S. Hoyt for $9,000 less 2% cash discount, and to D. Omara for $11,000 less 1% cash discount.
9	Issue credit of $300 to J. Forbes for merchandise returned.
10	Summary daily cash sales total $15,500.
11	Sell merchandise on account to R. Dvorak $1,600, invoice no. 512, and to S. LaDew $900, invoice no. 513.
12	Pay rent of $1,000 for January.
13	Receive payment in full from B. Richey and J. Forbes less cash discounts.
15	Withdrawal of $800 cash by J. Colorado for her personal use.
15	Post all entries to the subsidiary ledgers.
16	Purchase merchandise from D. Omara $18,000, terms 1/10, n/30; S. Hoyt $14,200, terms 2/10, n/30; and S. Vogel $1,500, terms n/30.
17	Pay $600 cash for office supplies.
18	Return $200 of merchandise to S. Hoyt and receive credit.
20	Summary daily cash sales total $20,100.
21	Issue $15,000 note, maturing in 90 days, to R. Moses in payment of balance due.
21	Receive payment in full from S. LaDew less cash discount.
22	Sell merchandise on account to B. Richey $2,700, invoice no. 514, and to R. Dvorak $2,800, invoice no. 515.
22	Post all entries to the subsidiary ledgers.
23	Send checks to D. Omara and S. Hoyt in full payment less cash discounts.
25	Sell merchandise on account to B. Garcia $3,500, invoice no. 516, and to J. Forbes $6,100, invoice no. 517.
27	Purchase merchandise from D. Omara $14,500, terms 1/10, n/30; D. Lynch $1,200, terms n/30; and S. Vogel $5,400, terms n/30.
27	Post all entries to the subsidiary ledgers.
28	Pay $200 cash for office supplies.
31	Summary daily cash sales total $21,300.
31	Pay total salaries of $8,100. Following Information: Office Supplies at January 31 total $750 Insurance coverage expires on October 31, 2018 Annual depreciation on the equipment is $1,500 Interest of $50 has accrued on the note payable Instructions: Fill out the general ledger for the following Cash - starting balance 36,895 Accounts Receivable - starting balance 13,000 Notes Receivable - starting balance 39,000 Inventory - starting balance 18,000 Office Supplies - starting balance 1,000 Prepaid Insurance - starting balance 2,000 Equipment - starting balance 6,450 Accumulated Depreciation Equipment - starting balance 1,500 Notes Payable Accounts Payable - starting balance 35,000 Interest Payable Owner Capital - starting balance 79,845 Owner Drawing Income Summary Sales Revenue Sales Return and Allowances Sales Discount COGS Depreciation Expense Interest Expense Insurance Expense Salary Expense Office supplies expense Rent expense The accounts with starting balances are posted, the rest of the accounts did not have a starting balance.