Current Attempt in Progress Sandhill Co. 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 ledgers for Sandhill are indicated in the working papers presented below. Also following are a series of transactions for Sandhill Co. for the month of January. Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 60% of the sales price. GENERAL LEDGER Account Number January 1 Opening Balance Account Title 101 Cash $37.250 112 Accounts Receivable 13.700 115 Notes Receivable 41.000 120 Inventory 15,500 126 1.100 Supplies 130 2.100 Prepaid Insurance 157 Equipment 6,45ch 158 Accumulated Depreciation-Equip. 1,600 201 27,000 Accounts Payable 301 88.500 Owner's Capital Schedule of Accounts Receivable (from accounts receivable subsidiary ledger) Customer January 1 Opening Balance R. Beltre $1,300 B. Santos 7,800 S. Mahay 4,600 Schedule of Accounts Payable (from accounts payable subsidiary ledger) Customer January 1 Opening Balance S. Meek $8,000 R. Moses 12,000 D. Saito 7.000 Question 1 of 1 - / 50 Jan 3 Sell merchandise on account to B. Corpas $3,200, invoice no. 510, and to J. Revere $1,600, invoice no. 511 5 Purchase merchandise from S. Gamel $5,000 and D. Posey $3,000, terms n/30. 72 Receive checks from S. Mahay $4,600 and B. Santos $2,000 after discount period has lapsed. 8 Pay freighton merchandise purchased $240. Send checks to S. Meek for 58,000 less 296 cash discount, and to D.Saito for $7,000 less 196 cash discount. 9 Issue credit of $300 to. Revere for merchandise returned. 10 Daily cash sales from January 1 to January 10 total $14.500. Make one journal entry for these sales. 11 Sell merchandise on account to R Beltre $1.400.invoice no.512, and to S. Mahay $900, invoice no.513 12 Pay rent of $1,400 for January 13 Receive payment in full from B. Corpas and ). Revere less cash discounts. 15 Withdraw 5800 cash by M.Sandhill for personal use. 15 Post all entries to the subsidiaryledgers. 16 Purchase merchandise from D. Saito $16.000 terms 1/10 n/30: S. Meek $14,800, terms 2/10, n/30, and S. Gamel $1.300, terms H/30. 17 Pay $400 cash for office supplies. 18 Return $300 of merchandise to S. Meek and receive credit. 20 Daily cash sales from anuary 11 to January 20 total $19,100. Make one journal entry for these sales 21 Issue $12.000 note, maturing in 90 days, to R. Moses in payment of balance due. 21 Receive payment in full from S. Mahay less cash discount, 22 Sell merchandise on account to B. Corpas $2.500, invoice no. 514, and to R. Beltre $2,300, invoice no. 515. 22 Post all entries to the subsidiary ledgers. 23 Send checks to D. Saito and S. Meek for full payment less cash discounts. 25 Sell merchandise on account to B. Santos $3.100, invoice no. 516, and to J. Revere $6,000 invoice no.517. 27 Purchase merchandise from D. Saito $14.900, terms 110.n/30; D. Posey $3,300. terms n/30; and S. Gamel $5.400. terms n/30. 27 Post all entries to the subsidiary ledgers. 28 Pay $200 cash for office supplies. W 31 Daily cash sales from January 21 to January 31 total $24,600. Make one journal entry for these sales 31 Pay sales salaries $4.700 and office salaries $3,600, Record the January transactions in a sales journal. (Post entries in the order presented in the problem statement) Sales Journal Date Account Debited Account Receivable Dr. Sales Revenue Cr. Cost of Good Sold Dr. Inventory Cr. Invoice No. Ref. > > (a3) 3 Record the January transactions in a cash receipts journal. (Post entries in the order presented in the problem statement Select "Not Applicable in Account Credited column, if no customer is selected.) CR1 Sales Revenue Other Accounts Cost of Good Sold Dr. Inventory Cr. Account Receivable Cr. Record the January transactions in a cash payments journal (Post entries in the order presented in the problem statement. Select "Not Applicable in Account Debited column. if no customer is selected.) Cash Payments Journal Date Other Accounts Accounts Payable Dr. Account Debited Ref. 120 & 729 306 627 34 Record the January transactions in a cash payments journal. (Post entries in the order presented in the problern statement. Select "Not Applicable" in Account Debited column. if na customer is selected.) CP1 Accounts Payable Dr. Supplies Dr. Inventory Cash (25) Record the January transactions in a two-column general journal. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit (Issued credit for merchandise returned.) (Cost of merchandise returned.) (Received credit for returned goods.) (Payment of balance due.) Question 1 of 1 - / 50 SI CRI I > 51 B. Santos Date Explanation Ref. I Debit Credit Balance Balance CR11 Si S. Mahey Date Explanation Ref. Debit Credit Balance Balance CR1 Si CR1 B. Corpas Date Explanation Ref. Debit Credit Balance S1 CR1 s1 Accounts Payable Subsidiary Ledger D. Posey Date Explanation Ref. Debit Credit Balance O 45 w 8 P1 CP1 Owner's Capital Date Explanation Ref. Debit Credit Balance Bala Owner's Drawings Date Explanation Ref. Debit Credit Bala CP1 Sales Revenue Date Explanation Ref. Debit Credit Bala SI A CR1 Sales Returns and Allowances Date Explanation Ref. Debit Credit Bala G1 Sales Discounts Date Explanation Ref. Debit Credit Bala CRA Cost of Goods Sold Date Explanation Ref. Debit Credit Bala GI UU SH CRI Salaries and Wages Expense Date Explanation Ref. Debit Credit Bala CP1 Rent Expense LOCA MH 45 w Gol Question 1 of 1 - / 50 D. Posey Date Explanation Ref. Debit Credit Balance PL P1 S. Meek Date Explanation Ref. Debit Credit Balance Balance GPL P1 G1 CP1 R. Moses Date Explanation Ref. Debit Credit Balance Balance V 61 D. Saito Date Explanation Ref. Debit Credit Balance Balance 7 CP1 P1 CP1 P1 S. Gamel Date Explanation Ref. Debit Credit Balance P1 P1 P1 45 Vio Prepare a trial balance at January 31, 2022, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information. 1 Office supplies at January 31 total 5900. 2. Insurance coverage expires on October 31, 2022. 3. Annual depreciation on the equipment is $1,200. 4. Interest of $50 has accrued on the note payable. Trial Balance Adjustments Account Titles Dr. ar Dr. Cash Accounts Receivable Notes Receivable Inventory I Supplies Prepaid Insurance Equipment Accum. Depreciation-Equipment Notes Payable Accounts Payable O ZA 45 SUS VivoBook 8