Name Date Class
18-R RECYCLING PROBLEM (LO2, 4, 5)
Journalizing transactions related to debt and equity financing
CASH RECEIPTS JOURNAL PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF.
RECEIVABLE
CREDIT
SALES
CREDIT
SALES TAX
PAYABLE
CREDIT
SALES
DISCOUNT
DEBIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
CASH PAYMENTS JOURNAL PAGE
12345
DATE ACCOUNT TITLE CK.
GENERAL ACCOUNTS
PAYABLE
DEBIT
PURCHASES
DISCOUNT
CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
20–
July 1Bonds Payable R465 100 0 0 0 00 100 0 0 0 00
4Line of Credit R469 32 7 0 0 00 32 7 0 0 00
6Capital Stock—Preferred R472 10 0 0 0 00 10 0 0 0 00
8Capital Stock—Common R476 30 0 0 0 00 30 0 0 0 00
29 Capital Stock—Common R487 20 0 0 0 00 21 6 0 0 00
Paid-in Capital in Excess of
Par—Common 1 6 0 0 00
Aug. 1Long-term Notes Payable R489 50 0 0 0 00 50 0 0 0 00
20–
Dec. 1Long-term Notes Payable 822 6 9 4 19 1 0 1 3 82
Interest Expense 3 1 9 63
2Line of Credit 823 2 0 0 0 00 2 1 0 6 68
Interest Expense 1 0 6 68
9Notes Payable 834 8 6 0 0 00 8 9 5 8 33
Interest Expense 3 5 8 33
31 Interest Expense 849 4 0 0 0 00 4 0 0 0 00
74 • Recycling Problem Working Papers
Beginning
Balance Interest Principal Ending
18-R RECYCLING PROBLEM (concluded)
NO. POST.
REF. DEBIT CREDIT
TE