The ledgers for TJ's Specialty Shop are shown below: ACCOUNT GENERAL LEDGER Cash DATE ITEM POST. REF. DEBIT CREDIT ACCOUNT NO. 101 BALANCE DEBIT CREDIT 20-1 Dec. 16 Balance v 9,705.00 Dec. 16 13 1,960.00 11,665.00 Dec. 18 33 1,100.00 10,565.00 Dec. 22 33 1,560.00 12,125.00 Dec. 23 13 120.00 12,005.00 Dec. 27 33 630.00 11,375.00 Dec. 29 34 2,473.00 13,848.00 Dec. 29 34 1,100.00 12,748.00 Dec. 30 34 200.00 12,548.00 ACCOUNT Accounts Receivable ACCOUNT NO. 122 BALANCE DATE ITEM POST. REP. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Balance v 10,256.00 Dec. 16 33 1,960.00 8,296.00 Dec. 16 33 168.00 8,464.00 Dec. 19 33 651.00 9,115.00 Dec. 22 33 1,560.00 7,555.00 Dec. 27 34 2,121.00 9,576.00 Dec. 29 34 2,473.00 7,203.00 ACCOUNT Merchandise Inventory DATE ITEM POST. REF. DEBIT CREDIT ACCOUNT NO. 131 BALANCE DEBIT CREDIT 20-1 Dec. 16 Balance y 21,800.00 Dec. 31 Adjusting 35 21,800.00 Dec. 31 Adjusting 35 19,700.00 19,700.00 ACCOUNTEstimated Returns Inventory DATE ITEM POST. REP. DEBIT CREDIT ACCOUNT NO. 132 BALANCE DEBIT CREDIT 20-1 Dec. 16 Balance 250.00 Dec. 31 Adjusting 35 250.00 Dec. 31 Adjusting 35 300.00 300.00 ACCOUNT Supplies DATE ITEM POST. REF. DEBIT CREDIT ACCOUNT NO. 141 BALANCE DEBIT CREDIT 20-1 Dec. 16 Balance 1,035.00 Dec. 23 33 120.00 1,155.00 630.00 525.00 Dec. 31 Adjusting 351 ACCOUNT Prepaid Insurance ACCOUNT NO. 145 BALANCE DATE ITEM POST, REF.DERITCREDIT DEBIT CREDIT 20-1 Dec. 16 Balance Dec. 31 Adjusting 35 380.00 1,380.00 1,000.00 ACCOUNT Land ACCOUNT NO. 161 BALANCE DATE ITEM POST. REF.DEBITCREDIT DEBIT CREDIT 20-1 Dec. 16 Balance 8,750.00 ACCOUNT Building DATE ITEM POST. REF.DEBITCREDIT 20-1 Dec. 16 Balance ACCOUNT NO. 171 BALANCE DEBIT CREDIT $2,000.00 ACCOUNTAccumulated Depreciation-Building ACCOUNT NO. 171.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Balance Dec. 31 Adjusting 35 800.00 9,200.00 10,000.00 ACCOUNT Store Equipment DATE ITEM POST. REF.DEBITCREDIT ACCOUNT NO. 181 BALANCE 20-11 Dec. 16 Balance DEBIT CREDIT 28,750.00 ACCOUNTAccumulated Depreciation-Store Equipment ACCOUNT NO. 181.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Balance Dec. 31 Adjusting 15 450.00 9,300.00 9,750.00 ACCOUNT Accounts Payable ACCOUNT NO. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT 20-11 DEBIT CREDIT Dec. 16 Balance 3,600.00 Dec. 17 33 150.00 Dec. 18 13 1,100.00 Dec. 24 13 1,200.00 Dec. 26 13 800.00 ACCOUNTCustomer Refunds Payable 3,450.00 2,350.00 3,550.00 4,350.00 ACCOUNT NO. 203 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Balance Dec. 31 Adjusting 35 100.00 300.00 400.00 ACCOUNT Wages Payable DATE ITEM POST. REF. DEBIT CREDIT 20-1 Dec. 31 Adjusting 35 330.00 20-2 Jan. 1 Reversing 25 330.00 ACCOUNT NO. 219 BALANCE DEBIT CREDIT 330.00 ACCOUNT Sales Tax Payable ACCOUNT NO. 231 BALANCE DATE ITEM POST. REF.DEBITCREDIT DEBIT CREDIT 20-1 Dec. 16 Balance 1,378.00 Dec. 161 33 8.00 1,386.00 Dec. 19 13 31.00 1,417.00 Dec. 27 34 101.00 1,518.00 ACCOUNT Mortgage Payable DATE ITEM POST, REF.DEBITCREDIT 20-1 Dec. 16 Balance v ACCOUNT NO. 251 BALANCE DEBIT CREDIT 12,525.00 ACCOUNT Tom Jones, Capital ACCOUNT NO. 311 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Balance Dec 31 Closing 16 10,403.00 Dec. 31 Closing 36 8,500.00 90,000.00 100,403.00 91,903.00 ACCOUNT Tom Jones, Drawing DATE ITEM POST. REF.DEBIT CREDIT 20-11 Dec. 16 Balance ACCOUNT NO. 312 BALANCE DEBIT CREDIT 8,500.00 Dec. 31 Closing 36 8,500.00 ACCOUNT Income Summary ACCOUNT NO. BALANCE 313 DATE 20-11 Dec. 31 ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Adjusting 15 21.800.00 21,800.00 Dec. 31 Adjusting 25 19,700.00 2,100.00 Dec. 31 Adjusting 35 250.00 2.350.00 Dec. 31 Adjusting 35 Dec. 31 Closing 36 300.00 129,008.00 2,050.00 Dec. 31 Closing -x6 116,555.00 126,958.00 10,403.00 Dec. 31 Closing 36 10,403.00 ACCOUNT Sales ACCOUNT NO. 401 BALANCE DATE 20-1 ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Dec. 16 Balance 124,900.00 Dec. 16 33 160.00 125,060.00 Dec. 19 33 Dec. 27 14 620.00 2,020.00 125,680.00 127,700.00 Dec. 31 Closing 36 127,700.00 ACCOUNTSales Returns and Allowances ACCOUNT NO. 401.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Balance Dec. 31 Adjusting 15 100.00 1,430.00 1,530.00 Dec. 31 Closing 26 1,530.00 ACCOUNT Purchases DATE 20-1 Dec. 16 Dec. 241 ITEM POST. REF. DEBIT CREDIT ACCOUNT NO. 501 BALANCE DEBIT CREDIT Balance 64,400.00 33 Dec. 26 33 1,200.00 800.00 65,600.00 66,400.00 Dec. 30 34 200.00 66,600.00 Dec. 31 Closing 36 66,600.00 ACCOUNTPurchases Returns and Allowances ACCOUNT NO. 501.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Balance 460.00 Dec. 17 Dec. 31 13 Closing 36 150.00 610.00 610.00 ACCOUNT Purchases Discounts ACCOUNT NO. 501.2 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT 20-1 Dec. 16 Balance v Dec. 31 Closing 36 698.00 CREDIT 698.00 ACCOUNT Freight-In ACCOUNT NO. 502 BALANCE DATE ITEM POST. REF.DEBITCREDIT DEBIT CREDIT 20-1 Dec. 16 Balance 175.00 Dec. 31 Closing 16 175.00 ACCOUNT Wages Expense ACCOUNT NO. 511 BALANCE 20-1 DATE ITEM POST. REF. DEBIT Dec. 16 Balance. CREDIT DEBIT CREDIT 26,100.00 Dec. 29 34 Dec. 31 Adjusting 341 1,100.00 330.00 27,200.00 27,530.00 Dec. 31 Closing 36 27,530.00 20-2 Jan. 11 Reversing 36 330.00 330.00 ACCOUNT Advertising Expense DATE ITEM POST. REF.DEBIT CREDIT ACCOUNT NO. 512 BALANCE DEBIT CREDIT 20-1 Dec. 16 Balance 4,700.00 Dec. 31 Closing 36 4,700.00 ACCOUNT Supplies Expense ACCOUNT NO. 502. BALANCE DATE 20-1 ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Dec. 31 Adjusting 35 630.00 630.00 Dec. 31 Closing 26 630.00 ACCOUNT Phone Expense ACCOUNT NO. 525 BALANCE DATE ITEM POST. REF.DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 31 Balance 2,180.00 Dec. 31 Closing 36 2,180.00 ACCOUNT Utilities Expense ACCOUNT NO. 533 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Balance 6,900.00 Dec. 27 34 630.00 7,530.00 Dec. 311 36 7,530.00 ACCOUNT Insurance Expense ACCOUNT NO. 535 BALANCE DATE ITEM POST. REP. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Dec. 31 Adjusting Closing 35 36 380.00 380.00 380.00 ACCOUNTDepreciation Expense-Building ACCOUNT NO. 540. BALANCE DATE ITEM POST, REF. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Adjusting 800.00 800.00 Dec. 31 Closing 36 800.00 ACCOUNTDepreciation Expense-Store Equipment ACCOUNT NO. 541 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-1 Dec. 16 Adjusting 35 450.00 450.00 Dec. 31 Closing 36 450.00 ACCOUNT Miscellaneous Expense DATE ITEM POST. REF.DEBIT CREDIT ACCOUNT NO. 549 BALANCE DEBIT CREDIT 20-1 Dec. 16. Dec. 31 Closing % Balance v 2,700.00 2,700.00 ACCOUNT Interest Expense DATE ITEM POST. REF.DEBIT CREDIT ACCOUNT NO. 551 BALANCE 20-1 Dec. 16. Balance Dec. 31 Closing 8. Prepare a post-closing trial balance. ACCOUNT Cash Accounts Receivable DEBIT CREDIT 1,350.00 1,350.00 TJ's Specialty Shop Post-Closing Trial Balance December 31, 20-1 DEBIT BALANCE CREDIT BALANCE 12548 1,203 DR Merchandise Inventory 197100 Estimated Returns Inventory 300 Supplies 525 19700 300 Prepaid Insurance 1000 Land 8150 Building 52000 Accumulated Depreciation-Building 10,000 Store Equipment 28150 (10,000) 197507 4350 406 Accumulated Depreciation-Store Equipment 9750 1518 12525 Accounts Payable 4350 91,903 Customer Refunds Payable 400 Wages Payable 330 110946 Sales Tax Payable Mortgage Payable Tom Jones, Capital 1518 12,525 5 more Check My Work uses remaining 91,903 110774 150,446 28790 97050 38,500