For month ending January 31, 2017 ONE MONTH OF TRANSACTIONS-- A Manual Accounting System Your Name Boating Distributors a wholesale-retail boating distributor is incorporated in the State of New Jersey, with an authorized capitalization of 500.000 shares of $6.00 par value common stock (2,000 Shares outstanding as of January 1). The company's accounting system includes a General journal, General ledger, Accounts receivable subsidiary ledger, and Accounts payable subsidiary ledger The transactions and accounting records in this set have been selected to give the student an understanding of the interrelationships in an accounting system. While almost all companies employ computerized accounting systems, this set is initially structured around a manual system with only one journal to permit maximum student learning. The company recognizes one month's depreciation in the month that an asset is purchased or sold. Also, it is assumed that the company closes its books monthly. The post-closing trial balance of Your Name Boating Distributors as of December 31 (which was the year- end) was as follows: Debits Credits $25,000 40,000 $ 400 76,000 20.000 2,000 1,000 4,000 20,000 4,000 35,000 Cash. Accounts Receivable. Allowance for Doubtful Accounts. Merchandise Inventory ...... Investments (available-for-sale)..... Office and Store Supplies Prepaid Insurance Prepaid Rent ... Office Equipment ............ Accumulated Depreciation Office Equipment Warehouse Storage Equipment ..... Accumulated DepreciationWarehouse Equipment Accounts Payable . Interest Payable Employees' Federal Income Taxes (withhold) Payable .. FICA Taxes Payable .. Short-term Notes Payable (Galindo City Bank, 60-day, 12 percent, Dated (December 1) ... Common Stock (par S6.00) ....... Additional Paid in Capital...... Accumulated Other Comprehensive Income Retained Earnings 8,000 25,000 100 700 400 10,000 12,000 42,000 1,500 118,900 Totals $223,000 $223,000 Page 1 -- Your Name Boating Spring 2018