Minh Anh Trading & Service Co. Ltd., established in 2019, specializes in trading product X in nutritional food. The company uses a perpetual inventory system, first-in-first-out (FIFO), and straight-line depreciation. Beginning balance of accounts in Jan 1, 2023 are listed as follow :

Accounts Amount VNCash 5.693.363.362Retained Earnings 252.160.116Salaries Payables 312.417.546Supplies 345.723.100Notes payable 2.200.000.000Accounts receivable XAccounts payable 675.300.000Equipment 4.894.263.600

Merchandise inventories

Units / S lng: 10.000 product X; unit price / n gi: 79.153VN/sp

791.530.000Owners Capital8.000.000.000Accumulated Depreciation 843.959.400

The following are transactions incurred in January 2023:

1.On January 1, signed a note payable of VND 1,201,000.000 with 6 months period, the interest rate of 12%/year to invest in the business. The enterprise has received cash from the bank.

2. On January 5, paid 100% cash to purchase 5.000 units of product X, purchase price 80.000VND/unit. .

3.On January 7, collected cash from the customer for the beginning A/R, VND 245.200.000.

4. On January 7, paid cash to rent a conference hall for a customer event of VND20,000,000.

5.On January 10, issued 12.000 units of product X to sell to client A at 140.000 VND per unit and received 100% cash for this sale.

6. On January 12, paid cash to the supplier for the beginning A/P, VND 452.430.000.

7. On January 15, purchased on account 9.000 units of product X, purchase price 80.500VND/unit

8.On January 18, the owner invested in the business VND 300.000.000 cash

9.On January 20, paid cash for utility expenses (electronic, water, telephone) at the administration division of VND107.812.000.

10. On January 25, issued 5.000 units of product X to sell to client B at 150.000 VND per unit. Client B paid 60% in cash and 40% on credit.

11. On January 28, the company was considering signing a sale contract to sell merchandise to client C according to the delivery method to the warehouses C company

12.On January 31, accrued the salary expenses payable to the employees at the end of the month for the selling division of VND 75.483.000 and the administration division of VND 128.540.000.

13.On January 31, accrued depreciation expense at the selling division of VND 55.000.000 and the administration division of VND 140.000.000.

14.On January 31, paid cash for loan interest according to transaction on January 1. The interest paid monthly.

15 On January 31, paid VND 12.000.000 for online advertising on the VN Express website

Required:

a) Using the accounting equation, calculate the Account Receivable (X) on January 1, 2023.

b) Record the transactions to the General Journal and transfer the data to the T accounts.

c) Prepare Income Statement for the month ended January 31, 2023