Chapter 10 Accounting for Sales and Cash Receipts • 31
Name Date Class
10-R RECYCLING PROBLEM (LO2, 3, 4, 5, 6, 7)
Journalizing sales and cash receipts transactions
1., 2., 3.
SALES JOURNAL PAGE
123
DATE ACCOUNT DEBITED SALE.
NO. POST.
REF.
ACCOUNTS
RECEIVABLE
DEBIT
SALES
CREDIT
SALES TAX
PAYABLE
CREDIT
1
1
2 2
2.
Col.
No. Column Title
Debit
Totals
Credit
Totals
1Accounts Receivable Debit …………………
2Sales Credit …………………………….
5
20—
May 5Joseph Architects 422 120 1 2 2 7 48 1 1 5 8 00 6 9 48
$5,773.36
$5,596.00
10-R RECYCLING PROBLEM (continued)
1 2 3 4 5 6 7
NO. POST.
REF.
GENERAL ACCOUNTS
RECEIVABLE
CREDIT
SALES
CREDIT
CASH
DEBIT
DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
1., 4., 6., 7.
Debit
Totals
4.
6
May 3 Mooreville City Schools 512 140 1 6 2 5 00 1 6 2 5 00
(1130) (2120) (4120) (1110)(4110)
$ 87.46
11,493.27
$11,580.73 $11,580.73
Chapter 10 Accounting for Sales and Cash Receipts • 33
Name Date Class
10-R RECYCLING PROBLEM (continued)
1. ACCOUNTS RECEIVABLE LEDGER
CUSTOMER Best Dean & Atkins CUSTOMER NO. 110
DATE ITEM POST.
REF. DEBIT CREDIT DEBIT
BALANCE
20–
May 1 Balance ✔6 2 15
Cash on hand at the beginning of the month
(May 1 balance of general ledger Cash account) ………………..
Plus total cash received during the month
(Cash Debit column total, cash receipts journal) ………………..
Equals total ……………………………………………..
5.
CUSTOMER JRD Hotel Group CUSTOMER NO. 130
DATE ITEM POST.
REF. DEBIT CREDIT DEBIT
BALANCE
20–
May 1 Balance ✔3 1 4 5 62
23 S5 1 0 4 4 10 1 1 0 6 25
8 CR6 3 1 4 5 62
$ 8,149.31
11,493.27
$19,642.58
34 • Recycling Problem Working Papers
10-R RECYCLING PROBLEM (continued)
3., 7. GENERAL LEDGER
ACCOUNT Cash ACCOUNT NO. 1110
DATE ITEM POST.
REF. DEBIT CREDIT BALANCE
DEBIT CREDIT
20–
May 1 Balance ✔8 1 4 9 31
31 CP7 7 1 9 4 36 9 5 4 95
ACCOUNT Sales Tax Payable ACCOUNT NO. 2110
DATE ITEM POST.
REF. DEBIT CREDIT BALANCE
DEBIT CREDIT
20–
May 1 Balance ✔3 9 8 24
ACCOUNT Sales Discount ACCOUNT NO. 4120
DATE ITEM POST.
REF. DEBIT CREDIT BALANCE
DEBIT CREDIT
20–
May 1 Balance ✔3 5 9 51
TE
31 CR6 11 4 9 3 27 12 4 4 8 22
31 S5 1 7 7 36 5 7 5 60
31 CR6 3 1 6 00 8 9 1 60
31 CR6 8 7 46 4 4 6 97
Chapter 10 Accounting for Sales and Cash Receipts • 35
Name Date Class
8.
10-R RECYCLING PROBLEM (concluded)
Forshee Supply
Schedule of Accounts Receivable
May 31, 20–
Best Dean & Atkins 1 1 0 6 25
Joseph Architects 8 6 1 78
