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Problem 7-6BA (100 minutes)
Parts 1 and 2
SALES JOURNAL Page 2
Date Account Debited
Invoice
Number PR
Accounts Receivable Dr.
Sales Cr.
Nov. 8 Cyd Rounder.......................................439 6,550
10 Carlos Mantel.......................................440 13,500
15 Tori Tripp.............................................441 5,250
PURCHASES JOURNAL Page 2
Date Account
Date of
Invoice Terms PR
Accounts
Payable
Cr.
Purchases
Dr.
Office
Supplies
Dr.
Other
Accounts
Dr.
11 Lo Company..........................................11/10 2/10, n/30 2,557 2,557
Problem 7-6BA (Continued)
CASH RECEIPTS JOURNAL Page 2
Date
Account Credited
Explanation PR
Cash
Dr.
Sales
Discount
Dr.
Accounts
Receivable
Cr.
Sales
Cr.
Other
Accts.
Cr.
Nov. 2 L.T. Notes Pay.........................................Note to bank..........................................................................
251/88,500 88,500
15 Sales......................................................Cash sales.............................................................................
18,170 18,170
30 Totals..................................................... 148,167
506
25,300
34,873
88,500
(101) (415) (106) (413) ()
CASH DISBURSEMENTS JOURNAL Page 2
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Purchase
s
Discounts
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Nov. 12 633 BLR Industries.......................................BLR Industries......................................................................
32,830 670 33,500
Expense................................................................................
30 Totals..................................................... 47,960
710
13,170
35,500
Problem 7-6BA (Continued)
GENERAL JOURNAL Page 2
Nov. 17 Accounts Payable—Lo Co..................................201/557
Purchases Returns and Allowances..............506 557
Received a credit memo for returns.
26 Accounts Payable—Brun Supply.......................201/922
Office Equipment............................................163 922
Received a credit memo for returns.
Accounts Receivable Acct. No. 106
Date Explanation PR Debit Credit Balance
Nov. 30 S2 33,275 33,275
30 R2 25,300 7,975
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Nov. 1 40,000
Office Supplies Acct. No. 124
Nov. 1 P2 5,058 5,058
26 G2 922 4,136
7A-502
Problem 7-6BA (Continued)
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Nov. 17 G2 557 (557)
26 G2 922 (1,479)
30 P2 42,614 41,135
30 D2 35,500 5,635
Long-Term Notes Payable Acct. No. 251
Sales Acct. No. 413
Date Explanation PR Debit Credit Balance
Nov. 30 S2 33,275 33,275
30 R2 34,873 68,148
Sales Discounts Acct. No. 415
Date Explanation PR Debit Credit Balance
Nov. 30 R2 506 506
Purchases Acct. No. 505
Date Explanation PR Debit Credit Balance
Nov. 30 D2 710 710
7A-502
Problem 7-6BA (Continued)
Sales Salaries Expense Acct. No. 621
Date Explanation PR Debit Credit Balance
Nov. 15 D2 6,585 6,585
30 D2 6,585 13,170
ACCOUNTS RECEIVABLE LEDGER
Carlos Mantel
Date Explanation PR Debit Credit Balance
Nov. 10 S2 13,500 13,500
Tori Tripp
Date Explanation PR Debit Credit Balance
Nov. 15 S2 5,250 5,250
24 S2 4,280 9,530
25 R2 5,250 4,280
ACCOUNTS PAYABLE LEDGER
12 D2 33,500 0
26 G2 922 4,136
7A-502
Problem 7-6BA (Continued)
Grebe Company
Date Explanation PR Debit Credit Balance
Nov. 5 P2 1,040 1,040
16 P2 459 1,499
Lo Company
Date Explanation PR Debit Credit Balance
Part 3
GRASSLEY COMPANY
Trial Balance
November 30
Debit Credit
Cash.............................................................. $100,207
Accounts receivable................................... 7,975
Inventory...................................................... 40,000
Office supplies............................................. 459
Purchases discounts.................................. 710
Sales salaries expense............................... 13,170 ________
Totals
............................................................
$203,550
$203,550
7A-502
Education.
Problem 7-6BA (Concluded)
Part 3—continued
GRASSLEY COMPANY
Schedule of Accounts Receivable
November 30
Carlos Mantel.......................................................$3,695
Tori Tripp............................................................... 4,280
Total accounts receivable...................................$7,975
GRASSLEY COMPANY
Schedule of Accounts Payable
November 30
7A-502
