Record the January transactions in a cash payments journal and a two-column general journal.

Post the journals to the general ledger.

Prepare a trial balance at January 31, 2014, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information.

Office supplies at January 31 total $900.

Insurance coverage expires on October 31, 2017

Annual depreciation on the equipment is $1,500.

Interest of $50 has accrued on the note payable.

Prepare a multiple-step income statement and an owner's equity statement for January and a classified balance sheet at the end of January.

Prepare and post adjusting and closing entries.

Prepare a post-closing trial balance, and determine whether the subsidiary ledgers agree with the control accounts in the general ledger.

General Ledger Account Number 101 112 115 120 126 130 157 158 201 301 January 1 Opening Balance Account Title Cash Accounts Receivable Notes Receivable Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equip Accounts Payable Owner's Capital $33,250 12,400 40,000 16,500 1,300 2,500 8,250 1,600 33,500 79,100