Journalise in special journals; post; prepare a trial balance.

The post-closing trial balance for Party Supplies Led is as follows.

PARTY SUPPLIES LTD

Post-closing trial balance as at 31 December 2022

L09, 10, 13, 14

Cash

Accounts receivable

Commissions recelvable

Inventory

Equipment

Accumulated depreciation--equipment

Accounts payable

J. Marcus, capital

Debit

$10750

4125

11625

6 125

1988

Credit

$34613

$ 1125

11 125

22363

$34613

The subsidiary ledgers contain the following information: (1) Accounts receivable_-Party Time Lid $750, Celebrate With Us Lid $2000, Party Hire Lid S1375; (2) Accounts payable Toys 4 U $2625, Party Shop $4625, Quality Hire $3875. The cost of all inventory sold was 65% of the sales price.

The transactions for January 2023 are as follaws.

Jan. 5

Sell inventory to A. Peters $1375, terms 2/7. n/30, irwoice no. 201.

5

Purchase inventory from Poppers Ltd $750, terms 2/7, n/30.

7

Receive an EFT from Party Hire Ltd for part payment of account $e75.

11

Pay freight inwards on inventory purchased via EFT ref. no. 101, $125.

12

Pay rent of $500 for January, EFT ref. no. 102.

12

Receive payment via EFT from A. Peters for amount due for invoice no. 201.

14

Issue a credit note to acknowledge receipt of damaged inventory of $175 returned by Party Time Lid.

15

Pay Quality Hire via EFT $3875 in payment of account, discount $125, EFT ref. no. 103.

17

Purchase inventory from Games R Us $375, terms 2/7, n/30.

TITLE AT

Pay sales salaries of $625 and office salaries $250 vla EFT ref. nos, 104 and 305 respectively.

20

Pay Party Shop via EFT $4625 in payment of account payable, EFT ref. no. 106.

23

Total cash sales amount to $2500.