RESENTATION Question 1, CPF5-51 (similar to) Part 1 of 25 Better Boat Company is a service based company that rents canoes for use on local lakes and rivers. At the beginning of the new year, Better Boat Company decided to carry and sell T-shirts with its logo printed on them. Better Boat Company uses the perpetual inventory system to account for the inventory. During January 2025, Better Boat Company completed these merchandising transactions, and posted the merchandising transactions to the ledger accounts. HW Score: 0%, 0 of 1 point O Points: 0 of 1 Save Better Boat Company does not typically prepare adjusting and closing entries each month, but the company is surprised at how popular the shirts are and wishes to know the net income for January and would also like to understand how to prepare the closing entries for a merchandising company. During January 2025, Better Boat Company completed the following non-merchandising transactions (Click the icon to view the non-merchandising transactions.) Read the requirements Requirement 1. Journalize and post the January transactions. Omit explanations. Use the ledger provided for posting. Begin by journalizing the non-merchandising January transactions. Omit explanations. (Record debits first, then credits. Exclude explanations from any journal entries.) Jan. 2: Collected $4,000 on account. Date Jan. 2 Accounts Debit Credit