1. Record the transactions in the general journal for January.

If you are using Working Papers,

start with page 1 in the journal. Assume the periodic inventory method is used.
The chart of accounts is as follows:

2. Post daily all entries involving customer accounts to the accounts receivable ledger.
3. Post daily all entries involving creditor accounts to the accounts payable ledger.
4. Post daily the general journal entries to the general ledger. Write the owner's name in the
Capital and Drawing accounts.
5. Prepare a trial balance.
6. Prepare a schedule of accounts receivable and a schedule of accounts payable.
Do the totals equal the balances of the related controlling accounts?

The following transactions were completed by Hammond Auto Supply during

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