Jeter Co, uses a perpetual inventory system and both an accounts recelvable and an accounts payable subsidiary ledger Balances related to both the general ledger and the subsidiary ledger for Jeter are indicated in the working papers. Presented below are a series of transactions for Jeter Co. for the month of January. Credit sales terms are 2/10, n/30. The cost of all merchandise old was 60% of the sales price. General Ledger Account Number January 1 Account Title Opening Balance 38,500 2,900 36,000 16,500 ,300 1,600 8,700 ,400 33,500 81,100 101 2 Accounts Receivable 115 120 Inventery 126 Supplies 30 Prepaid Insurance 157 Equipment 201 Accounts Peyable 301 Owners Capital (from accounts receivable subsidlary ledger) January 1 Opening Balance R. Beltre B. Sentos S. Mahey 1,200 8,000 3,700 Schedule of Accounts Payable (from accounts payable subsidiery ledger) January 1 Opening Balance S. Meek R. Moses D. Saito $7,500 14,000 12,000