Zweifel Company has the following opening account balances in its general and subsidiary ledgers on January 1 and uses the periodic inventory system. All accounts have normal debit and credit balances.

In addition, the following transactions have not been journalized for January 2014.
Jan. 3 Sell merchandise on account to W. Rayms $3,600, invoice no. 510 and M. Fischer $1,800, invoice no. 511.
5 Purchase merchandise on account from K. Zapfel $3,000 and J. Liotta $2,400.
7 Receive checks for $4,000 from L. Longhini and $2,000 from M. Hall.
8 Pay freight on merchandise purchased $180.
9 Send checks to O. Kitson for $9,000 and L. Quinn for $11,000.
9 Issue credit of $240 to M. Fischer for merchandise returned.
10 Summary cash sales total $15,500.
11 Sell merchandise on account to G. Dukes for $1,900, invoice no. 512, and to L. Longhini $900, invoice no. 513.
Post all entries to the subsidiary ledgers.
12 Pay rent of $1,000 for January.
13 Receive payment in full from W. Rayms and M. Fischer.
15 Pay cash dividend of $650.
16 Purchase merchandise on account from L. Quinn for $15,000, from O. Kitson for $13,900, and from K. Zapfel for $1,500.
17 Pay $400 cash for office supplies.
18 Return $200 of merchandise to O. Kitson and receive credit.
20 Summary cash sales total $17,750.
21 Issue $15,000 note to D. Markoff in payment of balance due.
21 Receive payment in full from L. Longhini.
Post all entries to the subsidiary ledgers.
22 Sell merchandise on account to W. Rayms for $3,700, invoice no. 514, and to G. Dukes for $800, invoice no. 515.
23 Send checks to L. Quinn and O. Kitson in full payment.
25 Sell merchandise on account to M. Hall for $3,500, invoice no. 516, and to M. Fischer for $6,100, invoice no. 517.
27 Purchase merchandise on account from L. Quinn for $12,500, from J. Liotta $1,200, and from K. Zapfel for $2,800.
28 Pay $200 cash for office supplies.
31 Summary cash sales total $22,920.
31 Pay sales salaries of $4,300 and office salaries of $3,100.

Instructions
(a) Record the January transactions in the appropriate journal-sales, purchases, cash receipts, cash payments, and general.
(b) Post the journals to the general and subsidiary ledgers. Add and number new accounts in an orderly fashion as needed.
(c) Prepare a trial balance at January 31, 2014, using a worksheet. Complete the worksheet using the following additional information.
(1) Office supplies at January 31 total $580.
(2) Insurance coverage expires on October 31, 2014.
(3) Annual depreciation on the equipment is $1,500.
(4) Interest of $30 has accrued on the note payable.
(5) Inventory at January 31 is $12,600.
(d) Prepare a multiple-step income statement and a retained earnings statement for January and a classified balance sheet at the end of January.
(e) Prepare and post the adjusting and closing entries.
(f) Prepare a post-closing trial balance, and determine whether the subsidiary ledgers agree with the control accounts in the generalledger.

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General Ledger Account Number January 1 ening Balance Account Title 101 112 Accounts Receivable 115 120 Inventory 125 130 Prepaid Insurance 157 Equipment 158 Accumulated Depreciation-Equip. 201 311 320Retained Earnings Cash Notes Rivable Supplies $32,750 13,000 42,000 20,000 1,000 2,000 6,450 1,500 35,000 70,000 10,700 Accounts Payable Common Stock Accounts Receivable Subsidiary Ledger Accounts Payable Subsidiary Ledger January 1 Opening Balance January1 Opening Balance Customer Creditor G. Dukes M. Hall L. Longhini $1,800 7,200 4,000 O. Kitson D. Markoff L. Quinn 9,000 15,000 11,000