Sales journals

SALES JOURNAL

Date
Dec.
2
Dec.
7
Dec.
9
Dec.
13
Dec.
19
Dec.
24
Dec.
24

Customer
Rosemont Univers
Clayborn Universi
E. Wisconsin Univ
Branch College
Clayborn Universi
E. Wisconsin Univ
Rosemont Univers

Inv. or
Cr. Memo
Number
727
728
729
730
731
CM 42
732

Assign 1 solution.xlsx

DECEMBER

Subs. Subs.
Acct.
Post
No.
406
407
410
408
407
410
406

Monthly totals

Credit
Debit
Acct. Rec.
Sales Returns
Sales
G/L 10200
G/L 30200
G/L 30100
4,174.00
4,174.00
7,252.00
7,252.00
21,872.00
21,872.00
1,656.00
1,656.00
12,830.00
12,830.00
-3,480.00
3,480.00
10,500.00
10,500.00
------------------------------- ------------------------ --------------------------------$
54,804.00 $
3,480.00 $
58,284.00
================== ============== ====================

Promotional Sale
Qty. sold
# Bats
# Pitching machine
Totals

Reg
price
50 $200.00
20 $250.00

Disc Total net of discount

30%
30%

$7,000.00
$3,500.00
$10,500.00

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Gen. journal

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WAREN SPORTS SUPPLY

GENERAL JOURNAL
December, 2013
ACCT.
NO.
10210
10900
10800
30900

EXPLANATION

POST

DEBIT

Accounts receivable from employees

Accumulated depreciation
Fixed assets
Gain/loss on sale of fixed assets

CREDIT

390.00
990.00
990.00
390.00

To record sale of bookshelves to employee

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Gen. ledger

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GENERAL LEDGER
10100 - CASH
Oct.
1 Balance Forward
Oct.
31
Oct.
31
Oct.
31 Net Wages and Salary
Oct.
31 Bank Service Charge
Nov.
30
Nov.
30
Nov.
30 Net Wages and Salary
Nov.
30 Bank Service Charge

Journal

10200 - ACCOUNTS RECEIVABLE

Oct.
1 Balance Forward
Oct.
31
Oct.
31
Nov.
30
Nov.
30

Journal

Dec

31

CR
CD
PR
G
CR
CD
PR
G

S
CR
S
CR

Debit

Credit

Debit
Balance
44,407.53

110,395.64
98,304.36
10,611.98
25.00

45,861.83

44,181.03
10,599.08
21.00

73,174.28

82,113.56

Debit

Credit

Debit
Balance
49,451.00

86,714.00
74,369.00

61,796.00

37,263.00
75,054.00

54,804.00

24,005.00

78,809.00

Dec.

78,809.00

10300 - ALLOWANCE FOR

DOUBTFUL ACCOUNTS
Oct.
1 Balance Forward

Credit
Balance
1,750.81
1,750.81

Journal

Debit

Credit

10400 - INVENTORY
Jan.
1 Balance Forward

Journal

Debit

Credit

Debit
Balance
101,681.00

10500 - PREPAID EXPENSES

Journal

Debit

Credit

Balance

Debit
Jan.

1 Balance Forward

0.00

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10600 - MARKETABLE SECURITIES

Oct.
1 Balance Forward

Journal

Debit

Credit

Debit
Balance
24,000.00

10800 - FIXED ASSETS

Oct.
1 Balance Forward

Journal

Debit

Credit

Debit
Balance
320,665.00

Dec.

26

10900 - ACCUMULATED DEPN.

Oct.
1 Balance Forward
Dec.
26

Journal

11000 - NOTES RECEIVABLE

Jan.
1 Balance Forward

Journal

20100 - ACCOUNTS PAYABLE

Oct.
1 Balance Forward
Oct.
31
Oct.
31
Nov.
30
Nov.
30

Journal

20300 - FED. INCOME TAXES W/H

Oct.
1 Balance Forward
Oct.
31
Oct.
31
Nov
30
Nov
30

Journal

990.00

Debit

Credit

990.00

Debit

Credit

319,675.00

Credit
Balance
81,559.50
80,569.50

Credit
Balance
0.00

P
CD
P
CD

Debit

Credit

Credit
Balance
1,087.83

85,920.80
82,372.83

4,635.80
27,938.09

28,923.89

Debit

CD
PR
CD
PR

3,650.00

Credit

Credit
Balance
1,515.80

1,515.80
1,517.33

1,517.33

1,516.07

1,516.07

1,517.33

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Gen. ledger

20400 - STATE UNEMPLOYMENT

TAXES PAYABLE
Oct.
1 Balance Forward
Oct.
31
Nov.
30
Nov.
30

20500 - FEDERAL UNEMPLOYMENT

TAXES PAYABLE
Oct.
1 Balance Forward
Oct.
31
Nov.
30
Nov.
30

20600 - F.I.C.A. TAXES PAYABLE

Oct.
1 Balance Forward
Oct.
31
Oct.
31 F.I.C.A. Withheld
Oct.
31 Employer's Tax
Nov.
30
Nov.
30 F.I.C.A. Withheld
Nov.
30 Employer's Tax

Journal

Debit

G
CD
G

Journal

Debit

Credit
Balance

44.98

0.00
44.98

50.03

50.03

Credit

Credit
Balance

13.33

0.00
13.33

14.82

14.82

13.33

Debit

CD
PR
G
CD
PR
G

Credit

Credit
Balance
1,745.62

1,745.62
982.52
982.52

1,965.04

1,003.58
1,003.58

2,007.16

1,965.04

20700 - FED. INCOME TAXES PAYABL Journal

Oct.
1 Balance Forward

Debit

20800 - DIVIDENDS PAYABLE

Jan. 1
1 Balance Forward

Debit

Journal

Credit

44.98

G
CD
G

Journal

Assign 1 solution.xlsx

Credit

Credit
Balance
0.00

Credit

Credit
Balance
0.00

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Gen. ledger

20900 - INTEREST PAYABLE

Oct.
1 Balance Forward

Journal

21000 - NOTES PAYABLE

Oct.
1 Balance Forward

Journal

21100 - UNEARNED REVENUE

Oct.
1 Balance Forward

Journal

26000 - COMMON STOCK

Oct.
1 Balance Forward

Journal

Debit

Credit

Credit
Balance
225,000.00

28000 - INCOME SUMMARY

Journal

Debit

Credit

Balance

29000 - RETAINED EARNINGS

Oct.
1 Balance Forward

Journal

Debit

Credit

Credit
Balance
90,264.99

29010 - DIVIDENDS DECLARED

Jan.
1 Balance Forward

Journal

Debit

Credit

30100 - SALES
Oct.
1 Balance Forward
Oct.
31 Credit Sales
Oct.
31 Cash Sales
Nov.
30 Credit Sales
Nov.
30 Cash Sales

Journal

Dec.

Balance

Debit

Credit

Credit
Balance
0.00

Debit

Credit

Credit
Balance
0.00

Debit
Balance
0.00

Debit

S
CR
S
CR

30200 - SALES RETURNS & ALLOW.

Oct.
1 Balance Forward
Nov.
30

Journal

31

Credit

0.00

31 Credit Sales

Dec.

Debit

Assign 1 solution.xlsx

Credit

Credit
Balance
1,326,865.00

86,714.00
36,607.00
60,277.00
7,767.00

1,518,230.00

58,284.00

1,576,514.00

1,450,186.00

23,014.00

Debit
Balance
34,617.00
57,631.00

3,480.00

61,111.00

Debit

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Credit

2/5/2015

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30300 - SALES DISCOUNTS TAKEN

Oct.
1 Balance Forward
Oct.
31
Nov.
30

Journal

30400 - COST OF GOODS SOLD

Journal

Debit

Credit

30500 - PURCHASES
Oct.
1 Balance Forward
Oct.
31
Nov.
30

Journal

Debit

Credit

30600 - PURCHASES RETURNS

AND ALLOWANCES
Oct.
1 Balance Forward

Debit

CR
CR

P
P

Credit

580.36
707.44

81,285.00
27,380.00

Journal

Debit

Credit

30700 - PURCHASES DISC. TAKEN

Oct.
1 Balance Forward
Oct.
31
Nov.
30

Journal

Debit

Credit

30800 - FREIGHT-IN
Oct.
1 Balance Forward
Oct.
31
Nov.
30

Journal

CD
CD

1,625.70
547.60

Debit

CD
CD

2,985.60
2,356.99

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Credit

Debit
Balance
13,856.38
14,436.74
15,144.18

Debit
Balance

Debit
Balance
969,835.00
1,051,120.00
1,078,500.00

Credit
Balance
19,445.00

Credit
Balance
13,388.00
15,013.70
15,561.30

Debit
Balance
18,038.35
21,023.95
23,380.94

2/5/2015

Gen. ledger

30900- G/L ON SALE OF FIXED ASSET Journal

Oct.
1 Balance Forward

Dec.

26

Assign 1 solution.xlsx

Debit

Credit
Balance
0.00

390.00

31000- G/L ON SALE OF MKTBLE. SECJournal

Oct.
1 Balance Forward

Debit

31100- INTEREST AND DIVIDEND INCOJournal

Oct.
1 Balance Forward

Debit

31200 - MISCELLANEOUS REVENUE Journal

Oct.
1 Balance Forward

Debit

40100 - RENT EXPENSE

Oct.
1 Balance Forward
Oct.
31
Nov.
30

Journal

Debit

40200 - ADVERTISING EXPENSE

Oct.
1 Balance Forward
Oct.
31
Nov.
30

Journal

Credit

390.00

Credit
Balance
0.00

Credit

Credit
Balance
0.00

Credit

Credit
Balance
0.00

CD
CD

Credit

4,800.00
4,800.00

Debit

CD
CD

Credit

4,525.00
3,250.00

40300 - OFFICE SUPPLIES EXPENSE Journal

Oct.
1 Balance Forward
Oct.
31
P
Nov.
30
P

Debit

40400 - DEPRECIATION EXPENSE

Debit

Journal

Credit

Credit

985.80
558.09

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Credit

Debit
Balance
43,200.00
48,000.00
52,800.00

Debit
Balance
13,030.00
17,555.00
20,805.00

Debit
Balance
3,518.41
4,504.21
5,062.30

Debit
Balance

2/5/2015

Gen. ledger

40500 - WAGES AND SALARIES EXP. Journal

Oct.
1 Balance Forward
Oct.
31
PR
Nov.
30
PR

Debit

40600 - PAYROLL TAX EXPENSE

Oct.
1 Balance Forward
Oct.
31
Nov.
30

Debit

Journal

Assign 1 solution.xlsx

Credit

13,179.54
13,118.73

G
G

Credit

1,066.54
1,068.43

Debit
Balance
100,281.22
113,460.76
126,579.49

Debit
Balance
8,161.52
9,228.06
10,296.49

40700 - FED. INCOME TAX EXPENSE Journal

Debit

Credit

Debit
Balance

40800 - INTEREST EXPENSE

Journal

Debit

Credit

Debit
Balance

40900 - BAD DEBT EXPENSE

Journal

Debit

Credit

Debit
Balance

41000 - OTHER OPERATING EXPENSEJournal

Oct.
1 Balance Forward
Oct.
31
G
Oct.
31
P
Oct.
31
CD
Nov.
30
G
Nov.
30
CD

Debit

Credit

10210 - A/R FROM EMPLOYEES

Oct.
1 Balance Forward

Debit

Dec.

26

Journal

25.00
3,650.00
1,985.21
21.00
1,763.65

Credit

Debit
Balance
17,880.14
17,905.14
21,555.14
23,540.35
23,561.35
25,325.00

Debit
Balance
0.00

390.00

9 of 14

390.00

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FA subsidiary

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FIXED ASSET SUBSIDIARY LEDGER

Office Furniture
Depreciation Method
Chicago Office Supply Where Located
5 years
Est. Salvage Value $

07
07
08
09
10
11
12
13

Asset Record
Debit
Credit
Balance
50,750.00
50,750.00

Straight-line
Office
0

Depreciation Record
Debit
Credit
Balance
5,075.00
10,150.00
10,150.00
10,150.00
10,150.00
5,075.00

990.00

49,760.00

990.00

5,075.00
15,225.00
25,375.00
35,525.00
45,675.00
50,750.00
49,760.00

Asset
NBV
50,750.00
45,675.00
35,525.00
25,375.00
15,225.00
5,075.00
0.00
0.00

page 42

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AR subsidiary

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ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

406

ROSEMONT UNIVERSITY
121 E. Front
Louisville, Kentucky 40202
DATE
Description
Oct.
1 Balance Forward
Oct.
6 Invoice # 722
Oct.
14 Payment # 722
Nov.
7 Invoice # 724
Nov.
17 Payment # 724
Dec.
2 Invoice # 727
Dec.
9 Payment #727
Dec.
24 Invoice # 732

CLAYBORN UNIVERSITY
13210 S. Upton
Logansport, Indiana 46947
DATE
Description
Oct.
1 Balance Forward
Dec.
7 Invoice # 728
Dec.
14 Payment # 728

CREDIT LIMIT
Credit
Balance

Debit

$125,000
0.00
29,018.00
0.00
2,460.00
0.00
4,174.00
0.00
10,500.00

29,018.00
29,018.00
2,460.00
2,460.00
4,174.00
4,174.00
10,500.00

407

Dec.
408

19 Invoice # 731

CREDIT LIMIT
Credit
Balance

Debit
7,252.00

7,252.00

12,830.00

$125,000
0.00
7,252.00
0.00

12,830.00

BRANCH COLLEGE
242 W. Holt Rd.

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DATE
Oct.
Oct.
Nov.
Nov.
Dec.

Trenton, Missouri 64683

Description
1 Balance Forward
7 Payment # 721
10 Invoice # 725
18 Payment # 725
13 Invoice # 730

CREDIT LIMIT
Credit
Balance

Debit

45,351.00
32,912.00
32,912.00
1,656.00

Assign 1 solution.xlsx

$100,000
46,551.00
1,200.00
34,112.00
1,200.00
2,856.00

ACCOUNTS RECEIVABLE SUBSIDIARY L

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ACCOUNTS RECEIVABLE SUBSIDIARY L

409
UNIVERSITY OF SOUTHERN IOWA
13210 S. Logan
Dubuque, Iowa 52003
DATE
Description
Debit
Oct.
1 Balance Forward

EASTERN WISCONSIN UNIVERSITY

14123 W. Saginaw
Madison, Wisconsin 53702
DATE
Description
Debit
Oct.
1 Balance Forward
Nov.
14 Invoice # 726
Nov.
21 Partial payment # 726
Dec.
9 Invoice # 729
Dec.
24 CM 42 return on inovice 729

CREDIT LIMIT
Credit
Balance

Assign 1 solution.xlsx

$100,000
0.00

410

STEVENSON COLLEGE
2689 Industrial Boulevard
Chicago, Illinois 60614
DATE
Description
Debit
Oct.
1 Balance Forward
Oct.
24 Invoice # 723
Return for credit - #CM 41 on
Nov.
7 invoice 723
Nov.
7 Payment #723

CREDIT LIMIT
Credit
Balance
24,905.00
5,000.00
21,872.00
3,480.00

$75,000
0.00
24,905.00
19,905.00
41,777.00
38,297.00

411

CREDIT LIMIT
Credit
Balance

2,900.00
60,596.00

57,696.00
23,014.00
34,682.00

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$75,000

37,582.00
2,900.00

2/5/2015

AR subsidiary

14 of 14

Assign 1 solution.xlsx

2/5/2015