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Title: Problem 7-5AA
Part 4
WISET COMPANY
Trial Balance
April 30
Debit Credit
Cash..............................................................$ 35,847
Inventory...................................................... 125,000
Office supplies............................................. 1,400
WISET COMPANY
Schedule of Accounts Payable
April 30
Custer, Inc................................................... $ 1,400
Title: Problem 7-6AA
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
(106/413)
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) ()
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
13 Linda Witt...............................................Invoice 3/3.............................................................................
9,996 204 10,200
(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.
Mar.13 416 Van Industries........................................Van Industries.......................................................................
42,728 872 43,600
15 417 Payroll...................................................Sales Salaries
Expense................................................................................
621 18,300 18,300
(101) (507) () (201)
Title: Problem 7-6AA
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
Mar. 31 S2 51,825 51,825
31 R2 32,600 19,225
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
Mar. 9 P2 21,850 21,850
19 G2 630 21,220
Title: Problem 7-6AA
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
Mar. 6 R2 82,000 82,000
Z. Church, Capital Acct. No. 301
Date Explanation PR Debit Credit Balance
Mar. 1 10,000
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
Mar. 17 G2 2,425 2,425
Purchases Discounts Acct. No. 507
Date Explanation PR Debit Credit Balance
Sales Salaries Expense Acct. No. 621
Date Explanation PR Debit Credit Balance
Title: Problem 7-6AA
`
ACCOUNTS RECEIVABLE LEDGER
Jovita Albany
Date Explanation PR Debit Credit Balance
Min Cho
Date Explanation PR Debit Credit Balance
Mar. 2 S2 16,800 16,800
12 R2 16,800 0
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
Mar. 3 P2 1,230 1,230
16 P2 1,770 3,000
Spell Supply
Date Explanation PR Debit Credit Balance
Van Industries
Date Explanation PR Debit Credit Balance
Title: Problem 7-6AA
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
CHURCH COMPANY
Schedule of Accounts Receivable
March 31
CHURCH COMPANY
Schedule of Accounts Payable
March 31
Title: Problem 7-4BA
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
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
16 Ruth Blake.............................................Sale of 7/6..............................................................................
7,350 150 7,500
Title: Problem 7-4BA
Parts 2 and 3
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
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
June 30 200,000
July 21 R3 15,000 215,000
R. Acorn, 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
