Post to the customer and creditor accounts and post any
amounts that should be posted as individual amounts to
general ledger accounts.
Foot and crossfoot the journals and make the month-end
1. Open the following general ledger accounts: Cash, Accounts
Receivable, Inventory, Store Supplies, Office Supplies, Office
Equipment, Notes Payable, Accounts Payable, F. Stone, Capital,
Sales, Sales Discounts, Cost of Goods Sold, and Sales Salaries
2. Open the following accounts receivable ledger accounts: Carl Cole,
Dale Dent, and Gary Glen.
3. Open the following accounts payable ledger accounts: Able
Company, Best Company, More Company, and Old Company.
4. Enter the transactions in a Sales Journal, a Purchases Journal, a
Cash Receipts Journal, a Cash Disbursements Journal, and a General
Journal similar to the ones illustrated in this chapter. Post when
instructed to do so.
5. Prepare a trial balance and prove the subsidiary ledgers by preparing
schedules of accounts receivable and payable.