Where did I go wrong I cannot find it. I am trying to make the trial balance balanced. Check figures:

Cash Receipts Journal, total Cash DR: $ 68,290

Cash Payments Journal, total Cash CR: 61,985

Net Income: 31,594

Total Assets: 154,369

Total Post Closing Trial Balance: 155,994

Name Section Date Polaris Co. Polaris Company Work Sheet For the Month Ended January 31, 2020 Adjusted Trial Balance Adjustments Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Dr. Cr Dr. Cr Dr. Cr. Cash 42052 Accounts Receivable 21900 Notes Receivable 2.4000 Inventory 43109 Office Supplies 1460 Prepaid Insurance Equipment 1450 Accumulated Depreciation - Equip. 150 0 Notes Payable 15000 Accounts Payable 278 4 Interest Payable J. Betel, Capital J. Betel, Draws Sales 71900 Sales Returns and Allowances 300 Sales Discounts Cost of Goods Sold 3 5496 Salaries & Wages Expense Rent Expense Totals 250 726 260900 Office Supplies Expense Insurance Expense Depreciation Expense Interest Expense Totals Net Income Totals 12 of 16Name Section Samantha ary Acc (21 Date 7/ 14/ 20 Polaris Co. Sales Journal S1 Accounts Account Invoice Receiv. Dr. COGS Dr. Date Debited No. Ref. Sales Revenue Cr. Inventory Cr. Jang 5. Jones 825 42 Jan 3 b smith 8261 628 Feraus . 8 27 600 736 D 828 Jan 22 panes X 29 2700 242 M . Feraus stone 1300 598 in 25 8 31 610 25 B. Smith 3500 832 6100 2806 Total 21000 9 160 #Ilg/ # 401 4 505 /# 120 Purchases Journal P1 Account Inventory Dr. Date Credited Terms Ret Acc. Pay Cr. N Cairns 130 V 5000 B . Tanza V 2 200 Boxer 1/ 10 1 30 8000 an to Winston 2/10 n/30 4200 N . Cairns 1/30 1/10 630 V 'n/30 1200 cairns Total n130 5400 1 of 16Name Samantha Section Arc 121 SOUCy Date 71 16 1 2020 Polaris Co. (a) (Continued) Cash Receipts Journal CR1 Sales Accounts Other COGS Dr. Account Cash Discounts Receivable Sales Revenue Accounts Inventory Date Credited Ref. Dr. Cr. Cr. Cr. D LI Brown 4000 2000 2000 Jan 10 cash saleses 15.500 an 3 3038 62 3100 B. Smith 1764 3 4 800 Cash sales 20.100 20100 9 2460 D. Brown 842 960 Jan 31 Cash Sales 121302 Jan31 68290 # 412 11800 156900 # 401 X 2 of 16Name amantle Section I 121 Date 716 20 20 Polaris Co. (a) (Continued) Cash Payments Journal CP1 Other Accounts Office Account Accounts Payable Supplies Inventory Cash Date Debited Ref. Dr. Dr. Dr. Cr. Cr. Freight #+ 12011 35 235 an all p. winston 9060 8420 an a boxer 1000 Rent #729 1000 00 0 betel (owenengel 800 1 Ffice supplies (#* 125 406 400 18000 180 17820 Jan 23 P. Winston 14200 284 13916 Jan 2X office supplies #:125 200 200 an3 Pain, stacksdead # 627 8100 8100 10135 52202 600 -154 161 985 #201 # 125 #120 # 101 3 of 16Name Section Date Polaris Co. (a) (Continued) and (e) General Journal G1 Date Account Titles Ref Debit Credit Sales Roturns & Allanances # 401 300 Acc Pec - 131 12 300 ( B.Smith Return Merchandisel an 9 1# 120 Cast andGoals sold 162 B. Smith Return Merchandise I # 505 1 62 an 18 Accounts Payable 1:1201 200 nventocy #120 200 ( credit for Mechandise returned Jan 21 Accents Payable #201 15600 Notes Payable 15 000 "Note issued to K. Greene) Adjusting Entries Jan 31 Supplit upplice xpense #128 700 ( to record supplies used ) # 125 700 man31 Insurance Expense 1# 722 200 Precaid Insulince ( To record insurance expired) 4130 200 Depreciation Expense #7IL 125 Scoredation #1581 125 ( To record monthly depreciation) Jan 31/1 Interest Expense Interest Payable #718 75 75 To record intereston Notes Parable 4 of 16Name Section Date Polaris Co. (b) and (e) General Ledger Cash No. 101 Date Explanation Ref. Debit Credit Balance Jan. 1 Balance V 35,750 Jan 31 CR 68290 L61 985 104040 42055 Accounts Receivable No. 112 Date Explanation Ref Debi Credit Balance Jan. 1|Balance V 3,000 Jan 9 Return - 8. Smith G 30 0 Jan 31 121000 12700 3 3700 Jan 3 CRI 11800 2190c Notes Receivable No. 115 Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 39,000 Inventory No. 120 Date Explanation Ref Debit Credit Balance Jan. 1 Balance V 8,000 Jang Freight CP 235 18235 200 18197 Jan 31 Jan 30 Si 9 660 754 705 37 Jan 31 Jan 31 CP CR 169783 2 614 43609 Office Supplies No. 125 Date Explanation Ref. Debit Credit Balance Jan. 1 Balance V 1,000 Adjustment 700 GOO Prepaid Insurance No. 130 Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 2,000 Gin S GL 200 800 6 of 16Name Samantha sack Section Acc 121 Date 71 2020 Polaris Co. (b) (Continued) Accounts Receivable Subsidiary Ledger M. Fergus Date Explanation Ref. Debi Credit Balance Jan. 1 Balance 1,500 an 16 0 0) 3100 an 22 S 1300 940 0 B. Smith Date Explanation Ref. Debit Credit Balance Jan 3 1800 JanB CR ) S 180 0 Jan 25 6 100 6100 H. Stone Date Explanation Ref Debit Credit Balance Jan. 1 Balance V 7,500 CR 2060 5500 xin25 SL 3500 D. Brown Date Explanation Ref Debit Credit Balance Jan. 1 Balance V 4,000 CRY 4000 Jan il Jan al CR GOO 900 S. Jones Date Explanation Ref Debit Credit Balance Jan. 3100 3100 Jan 13 3100 Jan 221 SI 2700 2700 10 of 16Name Section Date Polaris Co. (b) and (e) (Continued) Equipment No. 157 Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 6,450 Accumulated Depreciation - Equipment No. 158 Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 1,500 Jan31 Ament 125 625 Notes Payable No. 200 Date Explanation Ref. Debit Credit Balance 15060 Accounts Payable No. 201 Date Explanation Ref Debit Credit Balance Jan. 1 Balance V 35,000 Jan 18 GI 33060 15000 18OO Jan 31 PI 6200 0 CP152200 80000 Jan 31 27800 Interest Payable No. 202 Date Explanation Ref. Debi Credit Balance 31 Ad G 5 J. Betel, Capita No. 301 Date Explanation Ref Debit Credit Balance Jan. 1 Balance 78,700 J. Betel, Draws No. 306 Date Explanation Ref Debit Credit Balance Kn 15 P 806 600 7 of 16Name Section Date Polaris Co. (b) and (e) (Continued) Income Summary No. 350 Date Explanation Ref. Debit Credit Balance Sales Revenue No. 401 Date Explanation Ref. Debit Credit Balance Jan 31 SI 21000 Jan 31 56900 7 790 0 Sales Returns and Allowances No. 412 Date Explanation Ref. Debit Credit Balance Jan G G 300 Sales Discounts No. 414 Date Explanation Ref. Debit Credit Balance Jan 3 CR 6 Cost of Goods Solo No. 505 Date Explanation Ref. Debit Credit Balance Jan 9 162 Jan 31 CRI 261 74 an 31 S 26336 359 9 6 Salaries and Wages Expense No. 627 Date Explanation Ref Debit Credit Balance CPI 100 8100 Depreciation Expense No. 711 Date Explanation Ref. Debit Credit Balance Aoustment 125 125 8 of 16Name Section Date Polaris Co. (b) and (e) (Continued) Interest Expense No. 718 Date Explanation Ref Debit Credit Balance Jan 31 75 75 Insurance Expense No. 722 Date Explanation Ref. Debi Credit Balance an EXOINC QOC Office Supplies Expense No. 728 Date Explanation Ref Debit Credit Balance Adustment TOC Rent Expense No. 729 Date Explanation Ref Debit Credit Balance 100 0 9 of 16ACC 121 Practice Set transactions Summer 2020 (Use the working papers provided by your instructor to work this project.) Polaris Company uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger. Balances related to both the general ledger and the subsidiary ledger for Polaris are indicated in the working papers. Below are a series of transactions for Polaris Co. for the month of January. Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 46% of the sales price. Jan.3 Sell merchandise on account to S. Jones $3,100, invoice no. 825, and to B. Smith $1,800, invoice no. 826. 5 Purchase merchandise from N. Cairns $5,000 and B. Tanza $2,200, terms n/30. 7 Receive checks from D. Brown $4,000 and H. Stone $2,000 after discount period has lapsed. 8 Pay freight on merchandise purchased $235. & 9 Send checks to P. Winston for $9,000 less 2% cash discount, and to C. Boxer for $1 1,000 less 1% cash discount. 9 Issue credit of $300 to B. Smith for merchandise returned. 10 Summary daily cash sales total $15,500. 11 Sell merchandise on account to M. Fergus $1,600, invoice no. 827, and to D. Brown $900, invoice no. 828. 12 Pay rent of $1,000 for January. 13 Receive payment in full from S. Jones and B. Smith less cash discounts. er purchase on account 15 Withdrawal of $800 cash by J. Betel for personal use. 15 Post all entries to the subsidiary ledgers. sales 16 Purchase merchandise from C. Boxer $18,000, terms 1/10, n/30; P. Winston $14,200, terms 2/10, n/30; and N. Cairns $1,500, terms n/30. 17 Pay $400 cash for office supplies/C 18 Return $200 of merchandise to P. Winston and receive credit. 20 Summary daily cash sales total $20,100. 21 Issue $15,000 note, maturing in 90 days, to K. Greene in payment of balance due. 21 Receive payment in full from D. Brown less cash discount. 22 Sell merchandise on account to S. Jones $2,700, invoice no. 829, and to M. Fergus $1,300, invoice no. 830. 22 Post all entries to the subsidiary ledgers. 23 Send checks to C. Boxer and P. Winston in full payment less cash discounts. 25 Sell merchandise on account to H. Stone $3,500, invoice no. 831, and to B. Smith $6,100, invoice no. 832 27 Purchase merchandise from C. Boxer $14,500, terms 1/10, n/30; B. Tanza $1,200, terms n/30; and N. Cairns $5,400, terms n/30. 27 Post all entries to the subsidiary ledgers. 28 Pay $200 cash for office supplies. 31 Summary daily cash sales total $21,300. 31 Pay salaries and wages of $8, 100. (continued) Page 1 of 2instructions: (a) Record the January transactions in a Sales Journal, a singlecolumn Purchases Journal, a Cash Receipts Journal, a Cash Payments Journal, and a two-column General J oumal. (1)) Post the journals to the General Ledger. (c) Prepare a Trial Balance at January 31, 2020, in the trial balance columns of the Worksheet. Complete the Worksheet using the following additional information. 1. Ofce supplies at January 31 total $900. 2. Insurance coverage expires on October 31, 2020. 3. Annual depreciation on the equipment is $1,500. 4. Interest of $75 has accrued on the note payable. (d) Prepare a multiple-step Income Statement and an Owner's Equity Statement for January and a classied Balance Sheet at the end of January. (e) Prepare and post adjusting and closing entries. (1) Prepare a PostClosing Trial Balance, and determine whether the subsidiary ledgers agree with the control accounts in the General Ledger. (g) Calculate the following ratios. Include the written formula in words in addition to your calculations and your nal answers: 1. Inventory Turnover 2. Days in Inventory for the month of January 3. Gross Prot Rate 4. Working Capital Page 2 of 2