Week 1
Date
Transaction description
1
Obtained a loan of $58,000 from ZNZ Bank at a simple interest rate of
6% per year. The first interest payment is due at the end of August 2015 and
the principal of the loan is to be repaid on 1 June 2018.
4
Sold 90 copies of Human Ranch to Paige Turners for
$32 each, Invoice No. 501.
5
Purchased 100 copies of The idiot’s Guide to Writing Books for
Dummies from Bookheamoth for $16 each, terms 2/10, n/30.
5
Paid the full amount owing to Peachson, Cheque No. 903. Payment fell
within discount period.
5
Made cash sales of $6,825 during the first 5 days of the month.
6
Paid the full amount owing to Deterministic Garage, Cheque No. 904.
Payment fell within discount period.
7
Purchased 100 copies of Barry Plotter and the Half-paid Debt from
Noir Novels for $28 each, terms net 30.
7
Purchased 45 copies of Popular Moon Guide to the Sea of
Tranquillity with cash for $19 each, Cheque No. 905.
SALES JOURNAL
Date
Account
Invoice
No.
Post
Ref.
Amount
Jun
Sales Revenue(select)
Jun
(select)
Jun
(select)
Jun
(select)
(Q=302.purchasesJournalWeek1)
PURCHASES JOURNAL
Date
Account
Terms
Post
Ref.
Amount
Jun
APC – Bookheamoth(select)
terms…
net 30
net 7
2/10 n/30
Jun
APC – Noir Novels(select)
terms…
net 30
net 7
2/10 n/30
Jun
(select)
terms…
net 30
net 7
2/10 n/30
Jun
(select)
terms…
net 30
net 7
2/10 n/30
(Q=303.cashReceiptsJournalWeek1)
CASH RECEIPTS JOURNAL
Note: In order to receive full points, for each
transaction you must select an account under the column labelled ‘Account’, as
indicated under the additional instructions above. Since all transactions in
this journal affect the Cash at Bank account, you are asked to enter the name
of the appropriate account credited in these transactions into the Account
column so that the type of transaction can be determined by the name of the
account entered into this column.
Date
Account
Post Ref.
Debit
Credit
Cash at Bank
Discount Allowed
Sales Revenue
Accounts Receivable
Other Accounts
Jun
(select)
Jun
(select)
Jun
(select)
Jun
(select)
Jun
(select)
Jun
(select)
(Q=304.cashPaymentsJournalWeek1)
CASH PAYMENTS JOURNAL
Note: In order to receive full points, for each
transaction you must select an account under the column labelled ‘Account’, as
indicated under the additional instructions above. Since all transactions in
this journal affect the Cash at Bank account, you are asked to enter the name
of the appropriate account debited in these transactions into the Account
column so that the type of transaction can be determined by the name of the
account entered into this column.
Date
Account
Cheque
No.
Post
Ref.
Debit
Credit
Accounts Payable
Purchases
Other Accounts
Cash at Bank
Discount Received
Jun
(select)
Jun
(select)
Jun
(select)
Jun
(select)
Jun
(select)
Jun
(select)
(Q=305.generalJournalWeek1)
GENERAL JOURNAL
Date
Account and
Explanation
Post
Ref.
Debit
Credit
Jun
(select)
(select)
Jun
(select)
(select)
Jun
(select)
(select)
(Q=310-110-3.AcctsRec3_week1)
SUBSIDIARY LEDGERS
Account: ARC
– Paige Turners
Account No. 110-3
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
1,940 DR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=310-210-1.AcctsPay1_week1)
Account: APC
– Bookheamoth
Account No. 210-1
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
1,526 CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=310-210-2.AcctsPay2_week1)
Account: APC
– Deterministic Garage
Account No. 210-2
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
2,148 CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=310-210-3.AcctsPay3_week1)
Account: APC
– Noir Novels
Account No. 210-3
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
4,484 CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=310-210-4.AcctsPay4_week1)
Account: APC
– Peachson
Account No. 210-4
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
1,578 CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=320-100.CashAtBank_week1)
GENERAL LEDGER
Account: Cash
at Bank
Account No. 100
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
26,189 DR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=320-110.AcctsRecControl_week1)
Account: ARC
– Accounts Receivable Control
Account No. 110
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
9,876 DR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=320-120.Inventory_week1)
Account: Inventory
Account No. 120
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
78,383 DR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=320-210.AcctsPayControl_week1)
Account: APC
– Accounts Payable Control
Account No. 210
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
13,568 CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=320-250.LoanPayable_week1)
Account: Bank
Loan Payable
Account No. 250
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
0
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=320-400.SalesRevenue_week1)
Account: Sales
Revenue
Account No. 400
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
0
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=320-402.DiscountRecd_week1)
Account: Discount
Received
Account No. 402
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
0
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=320-500.Purchases_week1)
Account: Purchases
Account No. 500
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
0
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
(Q=320-573.DiscountAllowed_week1)
Account: Discount
Allowed
Account No. 573
Date
Description
Ref.
Debit
Credit
Balance
May
31
Balance
0
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
Jun
GJ
PJ
SJ
CRJ
CPJ
DR
CR
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