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Problem 7-5AA (Continued)
Parts 2 and 3—continued
ACCOUNTS PAYABLE LEDGER
Custer, Inc.
Date Explanation PR Debit Credit Balance
Grant Company
Date Explanation PR Debit Credit Balance
Hal’s Supply
Date Explanation PR Debit Credit Balance
Noth Company
Date Explanation PR Debit Credit Balance
Problem 7-5AA (Concluded)
Part 4
WISET COMPANY
Trial Balance
April 30
Debit Credit
Cash..............................................................$ 35,847
Inventory...................................................... 125,000
Office supplies............................................. 1,400
Store supplies.............................................. 830
WISET COMPANY
Schedule of Accounts Payable
April 30
Custer, Inc................................................... $ 1,400
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
(106/413)
Problem 7-6AA (Continued)
Parts 1 and 2—continued
PURCHASES JOURNAL Page 2
Date Account
Date of
Invoice Terms PR
Accounts
Payable
Cr.
Purchases
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
(201) (505) (124) ()
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
(101) (415) (106) (413) ()
CASH DISBURSEMENTS JOURNAL Page 2
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Purchases
Discounts
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Mar.13 416 Van Industries........................................Van Industries.......................................................................
42,728 872 43,600
(101) (507) () (201)
Problem 7-6AA (Continued)
GENERAL JOURNAL Page 2
Mar. 17 Accounts Payable—CD Co.......................................201/2,425
Received a credit memo for returns.
GENERAL LEDGER
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Accounts Receivable Acct. No. 106
Date Explanation PR Debit Credit Balance
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Store Supplies Acct. No. 125
Date Explanation PR Debit Credit Balance
Office Equipment Acct. No. 163
Date Explanation PR Debit Credit Balance
Problem 7-6AA (Continued)
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Mar. 17 G2 2,425 (2,425)
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
Z. Church, Capital Acct. No. 301
Date Explanation PR Debit Credit Balance
Sales Acct. No. 413
Date Explanation PR Debit Credit Balance
Sales Discounts Acct. No. 415
Date Explanation PR Debit Credit Balance
Purchases Acct. No. 505
Date Explanation PR Debit Credit Balance
Purchases Returns and Allowances Acct. No. 506
Date Explanation PR Debit Credit Balance
Purchases Discounts Acct. No. 507
Date Explanation PR Debit Credit Balance
Sales Salaries Expense Acct. No. 621
Date Explanation PR Debit Credit Balance
Problem 7-6AA (Continued)
`
ACCOUNTS RECEIVABLE LEDGER
Jovita Albany
Date Explanation PR Debit Credit Balance
Min Cho
Date Explanation PR Debit Credit Balance
Linda Witt
Date Explanation PR Debit Credit Balance
ACCOUNTS PAYABLE LEDGER
CD Company
Date Explanation PR Debit Credit Balance
Gabel Company
Date Explanation PR Debit Credit Balance
Spell Supply
Date Explanation PR Debit Credit Balance
Van Industries
Date Explanation PR Debit Credit Balance
13 D2 43,600 0
Problem 7-6AA (Concluded)
Part 3
CHURCH COMPANY
Trial Balance
March 31
Debit Credit
Cash............................................................................$ 69,884
Accounts receivable.................................................. 19,225
Inventory.................................................................... 10,000
CHURCH COMPANY
Schedule of Accounts Receivable
March 31
CHURCH COMPANY
Schedule of Accounts Payable
March 31
PROBLEM SET B
Problem 7-4BA (70 minutes)
Parts 1 and 2
SALES JOURNAL Page 3
Date Account Debited
Invoice
Number PR
Accounts Receivable Dr.
Sales Cr.
July 5 Kim Nettle......................................918 19,200
6 Ruth Blake.....................................919 7,500
(106/413)
CASH RECEIPTS JOURNAL Page 3
Date
Account
Credited Explanation PR
Cash
Dr.
Sales
Discounts
Dr.
Accounts
Receivable
Cr.
Sales
Cr.
Other
Accounts
Cr.
July
15
Kim Nettle..............................................Sale of 7/5..............................................................................
18,816 384 19,200
15 Sales......................................................Cash sales.............................................................................
118,350 118,350
(101) (415) (106) (413) ()
