Fashion Standards is a retail clothing store. Sales of merchandise and purchases of goods on account for January $20$X$1,$ the first month of operations, appear below.

INSTRUCTIONS

Record the purchases of goods on account in the three$-$column purchases journal.

Record the sales of merchandise on account in a sales journal.

Post the entries from the purchases journal and the sales journal to the individual accounts in the accounts payable and accounts receivable subsidiary ledgers. Use the following account numbers:

Accounts Receivable $111$

Accounts Payable $205$

Sales Tax Payable $231$

Sales $401$

Purchases $501$

Freight In $502$

All customers have n$/30$ credit terms.

Total and prove the journals as of January $31.$

Post the column totals from the special journals to the proper general ledger accounts.

Prepare a schedule of accounts payable for January $31.$

Prepare a schedule of accounts receivable for January $31.$

PURCHASES OF GOODS ON ACCOUNT

Jan. $3$ Purchased dresses for $$4,500$ plus a freight charge of $$120$ from Fashion Expo, Invoice $101,$ dated December $26$; the terms are net $30$ days.

$5$ Purchased handbags for $$3,480$ plus a freight charge of $$89$ from Tru Totes & Co$.,$ Invoice $223,$ dated December $28$; the terms are $2/10,$ n$/30.$

$7$ Purchased blouses for $$3,000$ plus a freight charge of $$75$ from Extreme Fashions, Invoice $556,$ dated January $3$; the terms are $2/10,$ n$/30.$

$9$ Purchased casual pants for $$2,360$ from Comfy Casuals, Invoice $110,$ dated January $5$; terms are n$/30.$

$12$ Purchased business suits for $$6,400$ plus a freight charge of $$150$ from Professional Wears, Invoice $104,$ dated January $9$; the terms are $2/10,$ n$/30.$

$18$ Purchased shoes for $$3,120$ plus freight of $$80$ from City Walks, Invoice $118,$ dated January $14$; the terms are n$/60.$

$25$ Purchased hosiery for $$1,025$ from Silky Legs Express, Invoice $1012,$ dated January $20$; the terms are $2/10,$ n$/30.$

$29$ Purchased scarves and gloves for $$1,600$ from Comfy Casuals, Invoice $315,$ dated January $26$; the terms are n$/30.$

$31$ Purchased party dresses for $$7,500$ plus a freight charge of $$250$ from Special Occasions Dress Shop, Invoice $1044,$ dated January $27$; the terms are $2/10,$ n$/30.$

SALES OF MERCHANDISE ON ACCOUNT

Jan. $4$ Sold two dresses to Vivian Cho; issued Sales Slip $101$ for $$600$ plus $$48$ sales tax.

$5$ Sold a handbag to Dina Bates; issued Sales Slip $102$ for $$525$ plus $$42$ sales tax.

$6$ Sold four blouses to Julia Adams; issued Sales Slip $103$ for $$400$ plus $$32$ sales tax.

$10$ Sold casual pants and a blouse to Cheryl Scott; issued Sales Slip $104$ for $$350$ plus $$28$ sales tax.

$14$ Sold a business suit to Alleen De Revere; issued Sales Slip $105$ for $$500$ plus $$40$ sales tax.

$17$ Sold hosiery, shoes, and gloves to Sasha Ramirez; issued Sales Slip $106$ for $$625$ plus $$50$ sales tax.

$21$ Sold dresses and scarves to Elaine Patterson; issued Sales Slip $107$ for $$1,500$ plus $$120$ sales tax.

$24$ Sold a business suit to Andrea Aguilar; issued Sales Slip $108$ for $$500$ plus $$40$ sales tax.

$25$ Sold shoes to Tracy Mai; issued Sales Slip $109$ for $$300$ plus $$24$ sales tax.

$29$ Sold a casual pants set to Toni Garcia; issued Sales Slip $110$ for $$600$ plus $$48$ sales tax.

$31$ Sold a dress and handbag to Linda Martin; issued Sales Slip $111$ for $$950$ plus $$76$ sales tax.

Analyze:

What is the net delivered cost of purchases for the month of January?