The post-closing trial balance for Perrault Music Co. follows:

The subsidiary ledgers contain the following information:
1. Accounts Receivable-S. Armstrong, $6,500; R. Goge, $30,000; B. Lu, $1,500
2. Accounts Payable-Denomme Corp., $4,000; Harms Distributors, $16,000; Watson & Co., $14,200
Perrault Music Co. uses a perpetual inventory system. The transactions for January 2014 are as follows:
Jan. 3 Sold merchandise to B. Rohl, $3,000. The cost of goods sold was $1,250.
5 Purchased merchandise from Warren Parts, $2,900.
7 Received a cheque from S. Armstrong, $4,000, in partial payment of its account.
11 Paid Lindon Co. freight on merchandise purchased, $350.
13 Received payment of account in full from B. Rohl.
14 Issued a credit memo to R. Goge for $6,000 as a sales allowance for a previous sale on account.
15 Sent Harms Distributors a cheque in full payment of account.
17 Purchased merchandise from Voyer Co., $4,900.
18 Paid salaries of $3,900.
20 Gave Watson & Co. a 60-day note for $14,000 as a partial payment of account payable.
23 Total cash sales amounted to $7,700. The cost of goods sold was $4,840.
24 Sold merchandise on account to B. Lu, $7,800. The cost of goods sold was $3,300.
27 Sent Warren Parts a cheque for $1,150 in partial payment of the account.
29 Received payment on a note receivable of $35,000 from S. Lava.
30 Returned merchandise costing $400 to Voyer Co. for credit.
31 Withdrew $1,300 cash for personal use.
Instructions
(a) Open general and subsidiary ledger accounts and record December 31, 2013, balances.
(b) Record the January transactions in a sales journal, a purchases journal, a cash receipts journal, a cash payments journal, and a general journal, as illustrated in this appendix.
(c) Post the appropriate amounts to the subsidiary and general ledger accounts.
(d) Prepare a trial balance at January 31, 2014.
(e) Determine whether the subsidiary ledgers agree with control accounts in the general ledger.

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PERRAULT MUSIC CO Post-Closing Trial Balance December 31, 2013 Debit Credit 101 Cash 112 Accounts receivable 115 Notes receivable 120 Merchandise inventory 140 Land 145 Building 146 Accumulated depreciation-building 157 Equipment 158 Accumulated depreciation-equipment 200 Notes payable 201 Accounts payable 275 Mortgage payable 301 M. Perrault, capital 310 M. Perrault, drawings 401 Sales 410 Sales returns and allowances 505 Cost of goods sold 725 Salaries expense 17,900 38,000 45,000 22,600 S 38,800 1,950 34,200 67,400 87,600 $229,950 $229,950