Part $1$:

$1.$ Record the purchases of goods on account in the three$-$column purchases journal.

$2.$Record the sales of merchandise on account in a sales journal.

$3.$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.

Part $2$:

$4.$ Total and prove the journals as of January $31.$

$5.$ Post the column totals from the special journals to the proper general ledger accounts.

$6.$Prepare a schedule of accounts payable for January $31.$

$7.$Prepare a schedule of accounts receivable for January