Problem 7-5AA (Concluded)
Part 4
WISET COMPANY
Trial Balance
April 30
Debit Credit
Cash…………………………………………………..…..$ 35,847
Long-term notes payable………………………... 110,000
B. Wiset, Capital…………………….……….……... 100,000
Purchases……………………….….…….…….…….. 39,425
WISET COMPANY
Schedule of Accounts Payable
April 30
Custer, Inc……………………….……….…….……. $ 1,400
Hal’s Supply……………………….…….……….…. 12,955
Problem 7-6AA (100 minutes)
Parts 1 and 2
SALES JOURNAL Page 2
Date Account Debited
Invoice
Number PR
Accounts Receivable Dr.
Sales Cr.
Mar. 2 Min Cho……….……….……….………..…...854 16,800
3 Linda Witt……………………………………..855 10,200
10 Jovita Albany…………..……….………..….856 5,600
Problem 7-6AA (Continued)
Parts 1 and 2—continued
PURCHASES JOURNAL Page 2
Date Account
Date of
Invoice Terms PR
Accounts
Payable
Cr.
Purchase
s
Dr.
Office
Supplies
Dr.
Other
Accounts
Dr.
Mar. 1 Van Industries……………………..….……….
3/1 2/15, n/30 43,600 43,600
3 Gabel Company……………………………….
3/3 n/10, EOM 1,230 1,230
Problem 7-6AA (Continued)
Parts 1 and 2—continued
CASH RECEIPTS JOURNAL Page 2
Date
Account
Credited Explanation PR
Cash
Dr.
Sales
Discount
Dr.
Accounts
Receivable
Cr.
Sales
Cr.
Other
Accounts
Cr.
Mar. 6 L.T. Notes Pay………………………………..…Note to bank……………………………………………………..…….…..
251 82,000 82,000
12 Min Cho………………………………………….Invoice, 3/2…………………………………………….……………………
16,464 336 16,800
CASH DISBURSEMENTS JOURNAL Page 2
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Purchase
s
Discounts
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Mar.13 416 Van Industries………………………..………..Van Industries……………………………………..………………………
42,728 872 43,600
15 417 Payroll…………………..….……………………Sales Salaries
Expense……………………………………………………………………..
621 18,300 18,300
Expense……………………………………………………………………..
31 Totals………………………………….…………. 108,924
1,476
36,600
73,800
Problem 7-6AA (Continued)
GENERAL JOURNAL Page 2
Mar. 17 Accounts Payable—CD Co…………………………….……201/2,425
Purchases Returns and Allowances……..............506 2,425
Received a credit memo for returns.
19 Accounts Payable—Spell Supply…….…….…….……..201/630
Office Equipment………………………………………….…163 630
Received a credit memo for returns.
GENERAL LEDGER
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Mar. 31 R2 178,808 178,808
31 D2 108,924 69,884
Date Explanation PR Debit Credit Balance
Mar. 16 P2 1,770 1,770
Office Equipment Acct. No. 163
Date Explanation PR Debit Credit Balance
Mar. 9 P2 21,850 21,850
19 G2 630 21,220
7A-502
Problem 7-6AA (Continued)
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Mar. 17 G2 2,425 (2,425)
19 G2 630 (3,055)
31 P2 101,075 98,020
31 D2 73,800 24,220
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
31 R2 64,860 116,685
Sales Discounts Acct. No. 415
Date Explanation PR Debit Credit Balance
Mar. 31 R2 652 652
Purchases Acct. No. 505
Date Explanation PR Debit Credit Balance
Mar. 31 P2 76,225 76,225
7A-502
Problem 7-6AA (Continued)
`
ACCOUNTS RECEIVABLE LEDGER
Jovita Albany
Date Explanation PR Debit Credit Balance
Mar. 10 S2 5,600 5,600
20 R2 5,600 0
27 S2 14,910 14,910
Min Cho
Date Explanation PR Debit Credit Balance
Gabel Company
Date Explanation PR Debit Credit Balance
Mar. 3 P2 1,230 1,230
16 P2 1,770 3,000
Spell Supply
Date Explanation PR Debit Credit Balance
Mar. 9 P2 21,850 21,850
19 G2 630 21,220
Van Industries
Date Explanation PR Debit Credit Balance
Mar. 1 P2 43,600 43,600
13 D2 43,600 0
7A-502
Education.
Problem 7-6AA (Concluded)
Part 3
CHURCH COMPANY
Trial Balance
March 31
Debit Credit
Cash…………………………………………………………………...$ 69,884
Accounts receivable……………………………………………. 19,225
Inventory…………………………………..…….…….……….….. 10,000
Office supplies……………………………………………..….…. 1,230
Store supplies…………………………………………………….. 1,770
Office equipment……………………………..…….…….…….. 21,220
Accounts payable………………………………………….……. $ 24,220
CHURCH COMPANY
Schedule of Accounts Receivable
March 31
Jovita Albany………………………………..….…….……… $14,910
CHURCH COMPANY
Schedule of Accounts Payable
March 31
Gabel Company………………………………..…….……... $ 3,000
7A-502
7A-502