Post the January transactions using the dates as posting references Compute each account balance, and denote the balance as Bal Date Accounts Debit Credit Jan 1 Merchandise Inventory 80 Cash 80 Jan 2 Cash 288 Sales Revenue 288 Jan 2 Cost of Goods Sold 60 Merchandise Inventory 60 Jan 3 Merchandise Inventory 630 Accounts Payable 630 Jan 7 Accounts Payable 630 Cash 605 Merchandise Inventory 25 Jan 8 Cash 20 Merchandise Inventory 20 Jan 10 Accounts Receivable 1,152 Sales Revenue 1,152 Jan 10 Cost of Goods Sold 350 Merchandise Inventory 350 Jan 12 Cash 1,152 Accounts Receivable 1,152 Jan 14 Merchandise Inventory 750 Accounts Payable 750 Jan 18 Accounts Payable 120 Merchandise Inventory 120 Jan 20 Accounts Payable 630 Cash 617 Merchandise Inventory 13 Jan 21 Accounts Receivable 2,851 Sales Revenue 2,851 Jan 21 Cost of Goods Sold 591 Merchandise Inventory 591 Jan 23 Cash 2,851 Accounts Receivable 2,851 Jan 25 Merchandise Inventory 2,590 Accounts Payable 2,590 Jan 27 Merchandise Inventory 37 Cash 37 Jan 29 Accounts Payable 2,590 Cash 2,512 Merchandise Inventory 78 Jan 30 Accounts Receivable 6,840 Sales Revenue 6,840 Jan 30 Cost of Goods Sold 1,866 Merchandise Inventory 1,866 Jan 31 Cash 6,840 Accounts Receivable 6,840 Cash Sales Revenue Merchandise Inventory Accounts Payable 2,390 Bal Bal 11 690 0 Bal Bal Wages Payable 1,050 Bal Rent Expense Bal Refunds Payable 0 Bal Canoe Rental Revenue Utilities Payable 270 Bal Accounts Receivable 0 Bal Bal 7,3001 Wages Expense Bal Interest Payable 120 Bal Cost of Goods Sold Estimated Returns Inventory Telephone Payable 300 Bal Bal Bal Utilities Expense Merchandise Inventory Bal Bal Unearned Revenue Office Supplies 350 Bal Wages Payable 1,050 Bal Bal 700 Telephone Expense Rent Expense Bal Choose from any list or enter any number in the input fields and then click Check Answer Choose from any list or enter any number in the input fields and then click Check Answer Notes Payable 5,760 Bal Prepaid Rent 1,400 Bal Supplies Expense Bal Land Bal 120,000 Depreciation Expense Building Bal 0 Building 160,000 Winter, Capital 301,870 Bal Bal Depreciation Expense Canoes Bal Accumulated Depr Building 600 Bal Income Summary 0 Bal Interest Expense Bal 0 Canoes Bal 12,000 r in the input fields and then click Check Answer Accumulated Depr Canoes 380 Bal

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 05, 2024

Post the January transactions using the dates as posting references. Compute each account balance, and denote the balance as Bal. Date Accounts Debit Credit Jan.

Post the January transactions using the dates as posting references. Compute each account balance, and denote the balance as Bal.

Date	Accounts	Debit	Credit
Jan. 1	Merchandise Inventory	80
	Cash		80

Jan. 2	Cash	288
	Sales Revenue		288

Jan. 2	Cost of Goods Sold	60
	Merchandise Inventory		60

Jan. 3	Merchandise Inventory	630
	Accounts Payable		630

Jan. 7	Accounts Payable	630
	Cash		605
	Merchandise Inventory		25

Jan. 8	Cash	20
	Merchandise Inventory		20

Jan. 10	Accounts Receivable	1,152
	Sales Revenue		1,152

Jan. 10	Cost of Goods Sold	350
	Merchandise Inventory		350

Jan. 12	Cash	1,152
	Accounts Receivable		1,152

Jan. 14	Merchandise Inventory	750
	Accounts Payable		750

Jan. 18	Accounts Payable	120
	Merchandise Inventory		120

Jan. 20	Accounts Payable	630
	Cash		617
	Merchandise Inventory		13

Jan. 21	Accounts Receivable	2,851
	Sales Revenue		2,851

Jan. 21	Cost of Goods Sold	591
	Merchandise Inventory		591

Jan. 23	Cash	2,851
	Accounts Receivable		2,851

Jan. 25	Merchandise Inventory	2,590
	Accounts Payable		2,590

Jan. 27	Merchandise Inventory	37
	Cash		37

Jan. 29	Accounts Payable	2,590
	Cash		2,512
	Merchandise Inventory		78

Jan. 30	Accounts Receivable	6,840
	Sales Revenue		6,840

Jan. 30	Cost of Goods Sold	1,866
	Merchandise Inventory		1,866

Jan. 31	Cash	6,840
	Accounts Receivable		6,840

image text in transcribed

Cash Sales Revenue Merchandise Inventory Accounts Payable 2,390 Bal. Bal. 11.690 0 Bal. Bal. Wages Payable 1,050 Bal. Rent Expense Bal. Refunds Payable 0 Bal. Canoe Rental Revenue Utilities Payable 270 Bal Accounts Receivable 0 Bal. Bal. 7,3001 Wages Expense Bal. Interest Payable 120 Bal. Cost of Goods Sold Estimated Returns Inventory Telephone Payable 300 Bal. Bal. Bal. Utilities Expense Merchandise Inventory Bal Bal. Unearned Revenue Office Supplies 350 Bal. Wages Payable 1,050 Bal. Bal. 700 Telephone Expense Rent Expense Bal Choose from any list or enter any number in the input fields and then click Check Answer. Choose from any list or enter any number in the input fields and then click Check Answer. Notes Payable 5,760 Bal. Prepaid Rent 1,400 Bal. Supplies Expense Bal. Land Bal. 120,000 Depreciation Expense-Building Bal. 0 Building 160,000 Winter, Capital 301,870 Bal. Bal. Depreciation Expense-Canoes Bal. Accumulated Depr.-Building 600 Bal. Income Summary 0 Bal. Interest Expense Bal. 0 Canoes Bal. 12,000 r in the input fields and then click Check Answer. Accumulated Depr.Canoes 380 Bal