PB–26A, cont.
Requirements 1 and 5, cont.
PB-26A, cont.
Requirements 2 and 4
PB–26A, cont.
Requirements 2 and 4, cont.
PB–26A, cont.
Requirements 3, 4, 5 and 6
PB–26A, cont.
Requirements 3, 4, 5 and 6, cont.
Purchases Journal
Date
Vendor
Account Credited Terms
Post.
Ref.
Accounts
Payable
CR
Merchandis
e
Inventory
DR
Office
Supplies
DR
Other Accounts DR
Account
Title
PB–26A, cont.
Requirements 3, 4, 5 and 6, cont.
Cash Payments Journal Page 8
Date
Ck.
No. Account Debited
Post.
Ref.
Other
Accounts
DR
Accounts
Payable
DR
Merchandise
Inventory
CR
Cash
CR
PB–26A, cont.
Requirements 3, 4, 5 and 6, cont.
General Journal Page 6
Date Accounts and Explanation
Post.
Ref.
Debit Credit
Requirement 6
TULSA COMPUTER SECURITY
Trial Balance
May 31, 2018
Acct. No. Account Name Debit Credit
111 Cash $ 15,012
112 Accounts Receivable 4,950
114 Merchandise Inventory 7,113
116 Office Supplies 975
PB–26A, cont.
Requirement 6, cont.
Accounts Receivable Subsidiary Ledger
Customer Balance
Balakrishnan Co. $ 1,700
Berkner Co. 2,400
K. D. King 0
M. O. Small 850
Total $ 4,950
Problems (Group B)
All problems can be completed manually or by using either MyAccountingLab General Ledger or
QuickBooks.
PB–27B Using the sales, cash receipts, and general journals
Learning Objectives 2, 3
Cash Receipts Journal, Accounts Receivable CR column total $11,800
Assume Peaceful Spring Company uses the perpetual inventory system. The general ledger of
Peaceful Springs Company includes the following selected accounts, along with their account
numbers:
Number Account Number Account
11 Cash 18 Equipment
12 Accounts Receivable 19 Land
13 Notes Receivable 41 Sales Revenue
15 Merchandise Inventory 51 Cost of Goods Sold
16 Office Supplies
Sales and cash receipts transactions in November were as follows:
Nov. 2 Sold merchandise inventory on credit, terms n/30, to Intelysis, Inc., $2,200 (cost, $400).
6 Sold office supplies to an employee at cost, $85, receiving cash.
6 Cash sales for the week totaled $2,400 (cost, $1,400).
8 Sold merchandise inventory on account, terms n/30, to A. Z. Morris, $7,500 (cost, $5,000).
9 Sold land that cost $9,000 for cash of the same amount.
11 Sold merchandise inventory on account, terms n/30, to Sloan Electric, $5,000 (cost,
$3,450).
11 Received cash from Intelysis in full settlement of its account receivable from November 2.
13 Cash sales for the week were $2,200 (cost, $1,750).
15 Sold merchandise inventory on credit, terms n/30, to West and Michael, $3,000 (cost,
$2,200).
19 Sold merchandise inventory on account, terms n/30, to Sloan Electric, $700 (cost, $200).
20 Cash sales for the week were $940 (cost, $640).
21 Received $4,400 cash from A. Z. Morris in partial settlement of its account receivable.
22 Received cash from West and Michael for its account receivable from November 15.
22 Sold merchandise inventory on account, terms n/30, to Olivia Co., $1,510 (cost, $980).
25 Collected $5,800 on a note receivable. There was no interest earned.
27 Cash sales for the week totaled $3,780 (cost, $2,430).
27 Sold merchandise inventory on account, terms n/30, to R. A. Brown, $230 (cost, $110).
30 Received $2,200 cash on account from A. Z. Morris.