Threadbare is a fashion retailer. The business uses the perpetual method for inventory recording.

On 31 December 2021, the business has the following account balances:

Cash at bank $8,000, Inventory $24,000, Accounts payable $6,000,

Equipment $26,000, Accounts receivable $8,000, and Capital $..............

(You need to calculate and record balance in general ledger account for Capital).

During the month of January 2022, Threadbare has the following transactions:

Jan 2	Purchased 50 items for resale on account from Walt for a total cost of $5,000.
Jan 3	Credit sales to Elon $7,200 (cost $4,000). Paid $3,000 for February rent.
Jan 10	Customer of Jan 3, Elon, returned damaged items sold for $540 (cost $300).
Jan 14	Cash sales $900 (cost $500).
Jan 20	Returned 3 damaged items to Walt (cost $300).
Jan28	Elon paid $5,000 of its December account balance and January account balance in full.
Jan 31	Paid Walt for January transactions.

REQUIRED:

Using the above transactions, post the relevant information directlyinto the following

ledgers. You are NOT required to prepare general journal entries.

You are also required to correctly balance the General Ledger Bank account at

January 31 2022. No other ledger accounts need to be balanced.