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Date. Ncount Intes and Explanation Debit Credit (Do dose reveive accourt) CFi dou expense accoutas) (Fa dian net inisone) (To close expense accounts) (To dose net income) (To dose drawings) Surland Co. uses a perpetual inventory system and both an accounts neceivable and an accounts payable subsidiary ledser, Balances related to both the general ledger and the subsidiary ledgers for Sunland are indicafed in the working papers presented below. Also following are a series of transactions for Sunland Co for the month of January. Creditsales terms are 2/10,n/30. The cost of all merchandise sold was 60% of the sales price. Jan. 3. Seli merchandise on account to B. Corpas $3,100, imoice no, 510 and to J. Revere $1.500, rmolice no. 511 . 5 Purchase merchand se from 5 . Camel $6000 and D. Posey $2.500 terms n/30. 7 Receive checks from 5. Mahsy $3,900 and E Santos $2.000 after discount period has lapsed. 9. Esue credit of $300 to 1 . Revere for merchandise returned 11 Sell inerchandise on account to Rt Beltre 51800 . irvolce no. 512 and to S. Mahar SP00, invoice no: 513 12 Payrent of 52000 for janusy 15 Wathdruw $800 cash by Misunland tor personal ule 15 Post nllentnes to thesubsidiankedeers. 7 Recelve cheos from S. Mahay $3,900 and 8. Santos $2,000 after discount period has lapsed. 8 Pay freight on merchandise purchased $245. 9. Send checks to 5 . Meek for $7,000 less 2% cash discount, and to 0. Saito for $9,000 less 1% cash discount. 9. Issue dedit of 5300 to 1 Revere for merchandise retumed. 10 Daily cashsales from January 1 to January 10 total $18,000, Make one joumal entry for these sales: 12. Payrent of $2,000 for January. 13 Receive payment in full from B, Corpas and 1 , Revere less cash discounts: 15 Withdraw SBco eash by M Sunland for personatuse 15 Post all entries to the subsidiaryledgers. 16 Purchase merchandise from D. Saito $10,000, termis 1/10,n/30,5 Meek $15,000, terns 2/10,n/30; and 5 , Gamel $1.100, termsn/30. 17 Pay $500 cash for olfice supplies. 18 Return $300 of merchandise to 5 . Meek and recelve credit. 20 Daily casti sales from 3anuary 11 to January 20 total $22.800. Make one joumat entry for these sales. 21 Issue $15,000 note maturine in 90 days, to R. Moses in payment of balance due. 21. Recalve pawment in full from s. Mahoy less cashidscount. 22 Sell merchandise on account to B. Corpas $2.600, inwoice no, 514 , and to Re Beltre $2.300, imvoice na 515 . 22 Post all entries to the subsidiary ledgers 23 Sendetecks to D. Swto and5, Meek for full payment less cash ditcounts. terims lin30 27 Postallentries to the subsidury ledgers 28 Pav 5200 cash for office supplies. 31 Dalycashsale from Jaruary 21 to January 31 total $21,000 Mabe on foumal entry for these sales 31 Parsales salaries 54.500 and office plaries $3800. Prepare a trial balance at January 31, 2022, in the trial balance columns of the worksheet. Complete the worksheet using the following additionalinformation. 1. Office supplies at January 31 total $900. 2 Insurance covernge epoires on October 31,2022. 3. Annual depreciation on the equipment is $1,200. 4. Interest of $50 has accrued on the note payable

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