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Student Name:
Class:
Page 2
CHURCH COMPANY
Sales Journal
COGS
Inv. Acct. Rec. Debit Debit
Date No. PR Sales Cr. Inv. Credit
Mar. 2 854 √16,800 8,400
3855 √10,200 5,800
10 856 √5,600 2,900
27 857 √14,910 7,220
28 858 √4,315 3,280
31 51,825 27,600
Correct! Correct!
Page 2
Accounts Office Other
Inv. Payable Inventory Supplies Accounts
Date Date Terms PR Credit Debit Debit Debit
Mar. 1 3/1 2/15, n/30 √43,600 43,600
3 3/3 n/10, EOM √1,230 1,230
9 3/9 n/10, EOM 163/√ 21,850 21,850
14 3/13 2/10, n/30 √32,625 32,625
16 3/16 n/10, EOM 125/√ 1,770 1,770
31 101,075 76,225 1,230 23,620
Correct! Correct! Correct! Correct!
Page 2
Sales Accounts Other COGS
Cash Discount Receivable Sales Accounts Debit
Date Explanation PR Debit Debit Credit Credit Credit Inv. Credit
Mar. 6 Note to bank 251 82,000 82,000
12 Invoice, 3/2 √16,464 336 16,800
13 Invoice, 3/3 √9,996 204 10,200
15 Cash sales √34,680 34,680 20,210
20 Invoice, 3/10 √5,488 112 5,600
31 Cash sales √30,180 30,180 16,820
31 178,808 652 32,600 64,860 82,000 37,030
Correct! Correct! Correct! Correct! Correct! Correct!
Page 2
Other Accts.
Check Cash Inventory Accts. Pay.
Date No. Payee PR Credit Credit Debit Debit
Mar. 13 416
Van Industries
√42,728 872 43,600
15 417 Payroll 621 18,300 18,300
23 418 The CD Co. √29,596 604 30,200
31 419 Payroll 621 18,300 18,300
31 Totals 108,924 1,476 36,600 73,800
Correct! Correct! Correct! Correct!
Debited
Account
Sales Salaries Exp.
The CD Company
Sales Salaries Exp.
Van Industries
Account Debited
Total
Linda Witt
Jovita Albany
Jovita Albany
Linda Witt
Min Cho
Linda Witt
Sales
Jovita Albany
Sales
Van Industries
Gabel Company
Office Equip./Spell Supply
The CD Company
Store Supplies/Gabel Co.
Totals
Totals
Account Credited
Account
Instructor
CHURCH COMPANY
Cash Receipts Journal
CHURCH COMPANY
Cash Disbursements Journal
CHURCH COMPANY
Problem 07-03A
McGraw-Hill/Irwin
Purchases Journal
L.T. Notes Pay
Min Cho
Student Name:
Class:
Instructor
Problem 07-03A
McGraw-Hill/Irwin
Page 2
Date Description PR Debit Credit
Mar. 17 201/√ 2,425
119 2,425 «- Correct!
19 201/√ 630
163 630 «- Correct!
Cash Account No. 101
Date Explanation PR Debit Credit Balance
Mar. 31 R2 178,808 178,808
31 D2 108,924 69,884 «- Correct!
Accounts Receivable Account No. 106
Date Explanation PR Debit Credit Balance
Mar. 31 S2 51,825 51,825
31 R2 32,600 19,225 «- Correct!
Inventory Account No. 119
Date Explanation PR Debit Credit Balance
Mar. 1 Beginning balance 10,000
17 G2 2,425 7,575
31 P2 76,225 83,800
31 D2 1,476 82,324
31 S2 27,600 54,724
31 R2 37,030 17,694 «- Correct!
Office Supplies Account No. 124
Date Explanation PR Debit Credit Balance
Mar. 31 P2 1,230 1,230 «- Correct!
Store Supplies Account No. 125
Date Explanation PR Debit Credit Balance
Mar. 16 P2 1,770 1,770 «- Correct!
Office Equipment Account No. 163
Date Explanation PR Debit Credit Balance
Mar. 9 P2 21,850 21,850
19 G2 630 21,220 «- Correct!
Accounts Payable Account 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 «- Correct!
Office Equipment
Accounts Payable-Spell Supply
General Journal
CHURCH COMPANY
Received a credit memo for returns.
Received a credit memo for returns.
General Ledger
CHURCH COMPANY
Inventory
Accounts Payable-The CD Co.
Student Name:
Class:
Instructor
Problem 07-03A
McGraw-Hill/Irwin
Long-Term Notes Payable Account No. 251
Date Explanation PR Debit Credit Balance
Mar. 6 R2 82,000 82,000 «- Correct!
Z. CHURCH, Capital Account No. 301
Date Explanation PR Debit Credit Balance
Mar. 1 Beginning balance 10,000 «- Correct!
Sales Account No. 413
Date Explanation PR Debit Credit Balance
Mar. 31 S2 51,825 51,825
31 R2 64,860 116,685 «- Correct!
Sales Discounts Account No. 415
Date Explanation PR Debit Credit Balance
Mar. 31 R2 652 652 «- Correct!
Cost of Goods Sold Account No. 502
Date Explanation PR Debit Credit Balance
Mar. 31 R2 37,030 37,030
31 S2 27,600 64,630 «- Correct!
Sales Salaries Expense Account No. 621
Date Explanation PR Debit Credit Balance
Mar. 15 D2 18,300 18,300
31 D2 18,300 36,600 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 10 S2 5,600 5,600
20 R2 5,600 0
27 S2 14,910 14,910 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 2 S2 16,800 16,800
12 R2 16,800 0 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 3 S2 10,200 10,200
13 R2 10,200 0
28 S2 4,315 4,315 «- Correct!
Linda Witt
Min Cho
Jovita Albany
Accounts Receivable Ledger
CHURCH COMPANY
Student Name:
Class:
Instructor
Problem 07-03A
McGraw-Hill/Irwin
Date Explanation PR Debit Credit Balance
Mar. 14 P2 32,625 32,625
17 G2 2,425 30,200
23 D2 30,200 0 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 3 P2 1,230 1,230
16 P2 1,770 3,000 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 9 P2 21,850 21,850
19 G2 630 21,220 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 1 P2 43,600 43,600
13 D2 43,600 0 «- Correct!
Debit Credit
69,884$
19,225
17,694
1,230
1,770
21,220
24,220$
82,000
10,000
116,685
652
64,630
36,600
232,905$ 232,905$
Correct! Correct!
14,910$
4,315
19,225$
Correct!
3,000$
21,220
24,220$
Correct!
The CD Company
Gabel Company
Spell Supply
Van Industries
Jovita Albany
Linda Witt
Total accounts receivable
Gabel Company
Spell Supply
Total accounts payable
CHURCH COMPANY
March 31
Schedule of Accounts Payable
CHURCH COMPANY
Accounts Payable Ledger
March 31
Trial Balance
CHURCH COMPANY
Cash
Accounts receivable
March 31
Schedule of Accounts Receivable
CHURCH COMPANY
Inventory
Office supplies
Store supplies
Office equipment
Accounts payable
Long-term notes payable
Z. Church, Capital
Sales
Sales discounts
Cost of goods sold
Sales salaries expense
Totals
Inv. No. Check
Date Description Name or Date No. Terms Amount
Mar. 1 Mar. 1 2/15, n/30 43,600
2854 2/10, n/30 16,800
3 Mar. 3 n/10 EOM 1,230
3855 2/10, n/30 10,200
6 82,000
9 Mar. 9 n/10 EOM 21,850
10 856 2/10, n/30 5,600
12 854 2/10, n/30
13 Mar. 1 416 2/10, n/30
13 855 2/10, n/30
14 Mar. 13 2/10, n/30 32,625
15 Mar. 15 417 18,300
15 34,680
16 Mar. 16 n/10 EOM 1,770
17 2,425
19 630
20 856 2/10, n/30
23 Mar. 13 418 2/10, n/30
27 857 2/10, n/30 14,910
28 858 2/10, n/30 4,315
31 Payroll Mar. 31 419 18,300
31 30,180
10,000$
10,000$
232,905$
Trial balance totals
March 1 beginning balance for Z. CHURCH, Capital
March 1 beginning balance for inventory
Jovita Albany
CD Company
Jovita Albany
Linda Witt
Additional information:
Check figure:
Merchandise sold (cost $3,280)
Check issued for sales salaries
Cash sales for second half of month (cost $16,820)
Federal Bank
Spell Supply
Jovita Albany
Min Cho
Van Industries
Linda Witt
CD Company
Payroll
Gabel Company
CD Company
Spell Supply
Received credit memo on returned merchandise.
Received credit memo on returned office equipment
Received payment less discount
Paid invoice less discount and credit memo
Merchandise sold (cost $7,220)
Received payment less discount
Purchase merchandise
Check issued for sales salaries
Cash sales for first half of month (cost $20,210)
Purchased store supplies
Borrowed on long-term note payable
Purchased office equipment
Sold merchandise (cost $2,900)
Received payment less discount
Paid invoice less discount
Merchandise sold (cost $5,800)
Min Cho
Van Industries
Gabel Company
Linda Witt
CHURCH COMPANY
Given Data P07-03A:
Merchandise sold (cost $8,400)
Received merchandise and invoice
Purchased office supplies
Student Name:
Class:
Inv. Acct. Rec. Dr.
Date
Account Debited
No. PR Sales Cr.
Mar. 2 854 √16,800
3855 √10,200
10 856 √5,600
27 857 √14,910
28 858 √4,315
31 51,825
Correct!
Accounts Office Other
Inv. Payable Purchases Supplies Accounts
Date Account Date Terms PR Credit Debit Debit Debit
Mar. 1 3/1 2/15, n/30 √43,600 43,600
3 3/3 n/10, EOM √1,230 1,230
Min Cho
Linda Witt
Jovita Albany
Jovita Albany
Linda Witt
Total
Van Industries
Gabel Company
Purchases Journal
CHURCH COMPANY
Instructor
McGraw-Hill/Irwin
Problem 07A-06A
Sales Journal
CHURCH COMPANY
Student Name:
Class:
Instructor
McGraw-Hill/Irwin
Problem 07A-06A
Sales Accounts Other
Cash Discount Recv. Sales Accounts
Date Account Cr. Explanation PR Debit Debit Credit Credit Credit
Mar. 6 Note to bank 251 82,000 82,000
12 Invoice, 3/2 √16,464 336 16,800
13 Invoice, 3/3 √9,996 204 10,200
15 Cash sales √34,680 34,680
20 Invoice, 3/10 √5,488 112 5,600
Purchases Other Accts.
Check Cash Discounts Accts. Pay.
Date No. Payee PR Credit Credit Debit Debit
Mar. 13 416 Van Industries √42,728 872 43,600
15 417 Payroll 621 18,300 18,300
23 418 The CD Co. √29,596 604 30,200
31 419 Payroll 621 18,300 18,300
31 Totals 108,924 1,476 36,600 73,800
Correct! Correct! Correct! Correct!
Date Description PR Debit Credit
Mar. 17 201/√ 2,425
506 2,425 «- Correct!
19 201/√ 630
163 630 «- Correct!
Van Industries
Debited
Account
Accounts Payable-CD Co.
Office Equipment
Accounts Payable-Spell Supply
Purchases Returns and Allowances
CHURCH COMPANY
Cash Receipts Journal
Received a credit memo for returns.
L.T. Notes Pay
Min Cho
Linda Witt
Sales
Received a credit memo for returns.
Cash Disbursements Journal
General Journal
Jovita Albany
Sales Salaries Expense
The CD Company
Sales Salaries Expense
Student Name:
Class:
Instructor
McGraw-Hill/Irwin
Problem 07A-06A
Student Name:
Class:
Instructor
McGraw-Hill/Irwin
Problem 07A-06A
Cash Account No. 101
Date Explanation PR Debit Credit Balance
Mar. 31 R2 178,808 178,808
31 D2 108,924 69,884 «- Correct!
Accounts Receivable Account No. 106
Date Explanation PR Debit Credit Balance
Mar. 31 S2 51,825 51,825
31 R2 32,600 19,225 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 16 P2 1,770 1,770 «- Correct!
Office Equipment Account No. 163
Date Explanation PR Debit Credit Balance
Date Explanation PR Debit Credit Balance
Mar. 17 G2 2,425 (2,425)
General Ledger
CHURCH COMPANY
Student Name:
Class:
Instructor
McGraw-Hill/Irwin
Problem 07A-06A
19 G2 630 (3,055)
31 P2 101,075 98,020
31 D2 73,800 24,220 «- Correct!
Student Name:
Class:
Instructor
McGraw-Hill/Irwin
Problem 07A-06A
Long-Term Notes Payable Account No. 251
Date Explanation PR Debit Credit Balance
Mar. 6 R2 82,000 82,000 «- Correct!
Z. Church, Capital Account No. 301
Date Explanation PR Debit Credit Balance
Mar. 1 Beginning balance 10,000 «- Correct!
Sales Account No. 413
Date Explanation PR Debit Credit Balance
Mar. 31 R2 652 652 «- Correct!
Purchases Account No. 505
Date Explanation PR Debit Credit Balance
Mar. 31 P2 76,225 76,225 «- Correct!
Purchases Returns and Allowances Account No. 506
Date Explanation PR Debit Credit Balance
Mar. 17 G2 2,425 2,425 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 15 D2 18,300 18,300
Student Name:
Class:
Instructor
McGraw-Hill/Irwin
Problem 07A-06A
31 D2 18,300 36,600 «- Correct!
Student Name:
Class:
Instructor
McGraw-Hill/Irwin
Problem 07A-06A
Date Explanation PR Debit Credit Balance
Mar. 10 S2 5,600 5,600
20 R2 5,600 0
27 S2 14,910 14,910 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 2 S2 16,800 16,800
Date Explanation PR Debit Credit Balance
Mar. 3 S2 10,200 10,200
13 R2 10,200 0
28 S2 4,315 4,315 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 14 P2 32,625 32,625
17 G2 2,425 30,200
23 D2 30,200 0 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 3 P2 1,230 1,230
16 P2 1,770 3,000 «- Correct!
The CD Company
Min Cho
Jovita Albany
Accounts Receivable Ledger
CHURCH COMPANY
Accounts Payable Ledger
CHURCH COMPANY
Student Name:
Class:
Instructor
McGraw-Hill/Irwin
Problem 07A-06A
Date Explanation PR Debit Credit Balance
Mar. 9 P2 21,850 21,850
19 G2 630 21,220 «- Correct!
Date Explanation PR Debit Credit Balance
Mar. 1 P2 43,600 43,600
13 D2 43,600 0 «- Correct!
Van Industries
