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PLEASE DO ALL STEPS. a, b, c, d, e

P7.6 (LO 2, 3), AP Presented below is the post-closing trial balance for Horner Co. The subsidiary ledgers contain the following information: (1) accounts receivable B. Hannigan $2,500, I. Kirk $7,500, and T. Hodges $5,000; (2) accounts payable-T. Igawa $12,000, D. Danford $18,000, and K. Thayer $13,000. The cost of all merchandise sold was 60% of the sales price. The transactions for January 2023 are as follows. Jan. 3 Sell merchandise to M. Ziesmer $8,000, terms 2/10,n/30. Purchase merchandise from E. Pheatt $2,000, terms 2/10,n/30. Receive a check from T. Hodges $3,500. Pay freight on merchandise purchased $300. Pay rent of $1,000 for January. Receive payment in full from M. Ziesmer. 14 Post all entries to the subsidiary ledgers. Issued credit of $300 to B. Hannigan for returned merchandise. Send K. Thayer a check for $12,870 in full payment of account, discount $130. Purchase merchandise from G. Roland $1,600, terms 2/10,n/30. Pay sales salaries of $2,800 and office salaries $2,000. Give D. Danford a 60-day note for $18,000 in full payment of account payable. Total cash sales amount to $9,100. 24 Post all entries to the subsidiary ledgers. Sell merchandise on account to I. Kirk $7,400, terms 1/10,n/30. 27 Send E. Pheatt a check for $950. 29 Receive payment on a note of $40,000 from B. Stout. 30 Post all entries to the subsidiary ledgers. Return merchandise of $300 to G. Roland for credit. Instructions a. Open general and subsidiary ledger accounts for the following. b. Record the January transactions in a sales journal, a single-column purchases joumal, a casn recerpss b. Sales journal 5 journal (see Illustration 7.9), a cash payments journal (see Illustration 7.16), and a general journal. c. Post the appropriate amounts to the general ledger. (Post summsry totals from the special journals Purchases jour before the daily entries from the general journal.) d. Prepare a trial balance at January 31,2023 . e. Determine whether the subsidiary ledgers agree with controlling accounts in the general ledger. (bolancing) Cash payment (balancing) d. Totals $144,80 e. Accounts Rece Accounts Paya Jan Section Homer Go Dale: (b) 8 (c) Section Date. Homer Co (b). (c)(continued) (a) and (c) (Continued) Accounts Receivable Subsidiary Ledger Accounts Payable Subsidiary Ledger

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