College Accounting 12th Edition Slater

Solutions Manual
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9
Sales and Cash
Receipts: The Seller – A
Periodic Approach
ANSWERS TO DISCUSSION QUESTIONS AND
CRITICAL THINKING/ETHICAL CASE

1. Records Sales Discounts, Sales Returns or Allowances.

2. Dr. Balance
3. Sales Discounts and Sales Returns and Allowances are contra-revenue accounts.
4. A discount period is a short period during which a business receives a discount if it
pays its bill; this encourages early payment. A credit period, which is longer than a
discount period, represents the total time allowed to pay back the full amount due on
a bill.
5. A. 2/10, n/30; 2 percent off the bill if paid within 10 days or total bill due within 30
days.
B. n/10, EOM: Full amount of bill is due within 10 days after the end of the month.
6. Contra Revenue Account.
7. The sum of the accounts receivable ledger at the end of the month should equal the
balance in the controlling account in the general ledger.
8. By placing the accounts receivable ledger in alphabetical order, it is easier to locate
specific companies or persons so that the respective amount can be updated.
9. (√) means subsidiary ledger is updated.
10. An invoice is a bill for a sale on account; it is used as a source document to update
the sales journal and the accounts receivable ledger.
11. A sales tax is a liability because the business owes the tax to the appropriate
government agency.
12. Disagree: sales discounts are not taken on freight, sales tax, returns, etc.
13. Sales Returns and Allowances, Accounts Receivable, and the accounts receivable
ledger account.
14. The question in this case is whether Amy should ask the accountant to put the first
two weeks of sales in January back into the previous December. Although Amy

SM-298
wants to improve sales production, this is not the way to go about it. It is extremely unethical for
Amy to ask the accountant to switch the sales production. Thus, I would advise Amy not to
behave in this manner. Remember, a sale is recorded when it is earned whether or not cash is
received.

SM-299
 SOLUTIONS TO CHAPTER 9 CLASSROOM DEMONSTRATION EXERCISES

1. Sales Revenue Cr. Dr. Temporary

Sales Returns and Contra Revenue Dr. Cr. Temporary
Allowances
Sales Discount Contra Revenue Dr. Cr. Temporary

2. Gross Sales $38

–SRA -12
–SD -3
= Net Sales $23

3. A. 1, 2, 3
B. 1, 2, 3
C. 1, 2, 3

4. Sales Returns & Allowances Contra Revenue ↑ Dr. $206

Accts. Rec., Met.com Asset ↓ Cr. $206

5. A. Accounts Receivable, Weis Co. 32

Sales 32
Sale on Acct.

B. Cash 980
Sales Discount 20
Accounts Receivable, Phair Co. 1,000
Phair Paid Bill

C. Cash 99
Sales 99
Cash Sale

D. Sales Returns and Allowances 19

Accounts Receivable, Weis Co. 19
Issued Credit Memo #2

SM-300
6. PINE CO.
SCHEDULE OF ACCOUNTS RECEIVABLE
MAY 31, 201X

James Co. $ 99
Noel Co. 15
Rose Co. 11
Total Accounts Receivable $125

SM-301
 SOLUTIONS TO EXERCISES
SET A
9A-1.

Wind Sail Co. Accounts Receivable 112

11/18 GJ1 620 11/18 GJ1 620

11/19 GJ1 930
Bal. 1,550

Travel Co. Sales 411

11/19 GJ1 930 620 GJ1 11/18

930 GJ1 11/19
1,550 Bal.

9A-2.

Date Account Titles and Description PR Dr. Cr.

May 16 Accounts Receivable, Pearl Co. 112 9 0 0 00
Sales 411/√ 9 0 0 00
Sales on Account

18 Accounts Receivable, Glenda Co. 112 1 9 0 0 00

Sales 411/√ 1 9 0 0 00
Sales on Account

20 Sales Returns and Allowances 412 7 1 0 00

Accounts Receivable, Glenda Co. 112/√ 7 1 0 00
Issued Credit Memo #1

Glenda Co. Sales 411

5/18 SJ1 1,900 710 GJ1 5/20 900 GJ1 5/16
Bal. 1,190 1,900 GJ1 5/18
2,800 Bal.

Pearl Co. Accounts Receivable 112 Sales Returns & Allowances 412
5/16 SJ1 900 5/16 GJ1 900 710 GJ1 5/20 5/20 GJ1 710
5/18 GJ1 1,900
Bal. 2,090

SM-302
 9A-3.

Date Account Titles and Description PR Dr. Cr.

May 24 Cash 100 8 9 1 00
Sales Discount 413 9 00
Accounts Receivable, Pearl Co. 112 9 0 0 00

SM-303
EXERCISES (CONTINUED)

9A-4.

Date
201X Account Titles and Description PR Dr. Cr.
Oct. 1 Cash 111 2 6 0 0 00
Andrew Albright, Capital 311 2 6 0 0 00
Owner Investment

1 Accounts Receivable, Greenfield Co. 113/√ 7 5 0 00

Sales 411 7 5 0 00
Sales on Account

2 Accounts Receivable, Robert Co. 113/√ 9 0 0 00

Sales 411 9 0 0 00
Sales on Account

3 Cash 111/√ 2 1 5 00
Sales 411 2 1 5 00
Cash Sale

8 Sales Returns and Allowances 412 1 5 0 00

Accounts Receivable, Greenfield Co. 113/√ 1 5 0 00
Issued Credit Memo #1

10 Cash 111 5 7 6 00
Sales Discounts 413 2 4 00
Accounts Receivable, Greenfield Co. 113/√ 6 0 0 00
Payment Received Less Discount

15 Cash 111 4 3 0 00
Sales 411 4 3 0 00
Cash Sales

18 Accounts Receivable, Greenfield Co. 113/√ 6 5 0 00

Sales 411 6 5 0 00
Sales on Account

SM-304
EXERCISES (CONTINUED)

9A-4 (Continued)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER PARTIAL GENERAL LEDGER

Greenfield Co. Cash 111

10/01 GJ1 750 150 GJ1 10/08 10/01 GJ1 2,600
10/18 GJ1 650 600 GJ1 10/10 10/03 GJ1 215
Bal, 650 10/10 GJ1 576
10/15 GJ1 430
Bal. 3,821
Robert Co. Accounts Receivable 113
10/02 GJ1 900 10/01 GJ1 750 150 GJ1 10/08
10/02 GJ1 900 600 GJ1 10/10
10/18 GJ1 650
Bal. 1,550

Andrew Albright, Capital 311

2,600 GJ1 10/01

Sales 411
750 GJ1 10/01
900 GJ1 10/02
215 GJ1 10/03
430 CJ1 10/15
650 GJ1 10/18
2,945 Bal.

Sales Returns &

Sales Discount 413 Allowances 412
10/10 GJ1 24 10/8 GJ1 150

ANDREW CO,
SCHEDULE OF ACCOUNTS RECEIVABLE
OCTOBER 31, 201X

Greenfield Co. $650

Robert Co. 900
Total Accounts Receivable $1,550

SM-305
9A-5.
Sales ticket price $ 10,000
- Credit for return 800
= Sales price after credit $ 9,200
X Discount rate 2%
= Discount $ 184

Sales price after credit $ 9,200

X Sales tax rate 8%
= Sales tax $ 736

Sales price after credit $ 9,200

+ Sales tax 736
= Sales price after tax $ 9.936
- Discount 184
= Amount paid $ 9,752

SM-306
 SOLUTIONS TO EXERCISES
SET B
9B-1.

Wind Sail Co. Accounts Receivable 112

8/18 GJ1 560 8/18 GJ1 560

8/19 GJ1 860
Bal. 1,420

Travel Co. Sales 411

8/19 GJ1 860 560 GJ1 8/18

860 GJ1 8/19
1,420 Bal.

9B-2.

Date Account Titles and Description PR Dr. Cr.

Nov. 16 Accounts Receivable, Pearl Co. 112 9 2 0 00
Sales 411/√ 9 2 0 00
Sales on Account

18 Accounts Receivable, Glenda Co. 112 1 6 0 0 00

Sales 411/√ 1 6 0 0 00
Sales on Account

20 Sales Returns and Allowances 412 6 9 0 00

Accounts Receivable, Glenda Co. 112/√ 6 9 0 00
Issued Credit Memo #1

Glenda Co. Sales 411

11/18 SJ1 1,600 690 GJ1 5/20 920 GJ1 11/16
Bal. 910 1,600 GJ1 11/18
2,520 Bal.

Pearl Co. Accounts Receivable 112

11/16 SJ1 920 11/16 GJ1 920 690 GJ1 11/20
11/18 GJ1 1,600
Bal. 1,830

Sales Returns & Allowances 412

11/20 GJ1 690

SM-307
 9B-3.

Date Account Titles and Description PR Dr. Cr.

Nov. 24 Cash 100 8 7 4 00
Sales Discount 413 4 6 00
Accounts Receivable, Pearl Co. 112 9 2 0 00

SM-308
EXERCISES (CONTINUED)

9B-4.

Date
201X Account Titles and Description PR Dr. Cr.
Oct. 1 Cash 111 3 2 0 0 00
Andrew Albright, Capital 311 3 2 0 0 00
Owner Investment

1 Accounts Receivable, Greenfield Co. 113/√ 8 0 0 00

Sales 411 8 0 0 00
Sales on Account

2 Accounts Receivable, Robert Co. 113/√ 9 2 0 00

Sales 411 9 2 0 00
Sales on Account

3 Cash 111 2 1 0 00
Sales 411 2 1 0 00
Cash Sale

8 Sales Returns and Allowances 412 2 0 0 00

Accounts Receivable, Greenfield Co. 113/√ 2 0 0 00
Issued Credit Memo #1

10 Cash 111 5 7 6 00
Sales Discounts 413 2 4 00
Accounts Receivable, Greenfield Co. 113/√ 6 0 0 00
Payment Received Less Discount

15 Cash 111 4 2 0 00
Sales 411 4 2 0 00
Cash Sales

18 Accounts Receivable, Greenfield Co. 113/√ 7 0 0 00

Sales 411 7 0 0 00
Sales on Account

SM-309
EXERCISES (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER PARTIAL GENERAL LEDGER

Greenfield Co. Cash 111

10/01 GJ1 800 200 GJ1 10/08 10/01 GJ1 3,200
10/18 GJ1 700 600 GJ1 10/10 10/03 GJ1 210
Bal, 700 10/10 GJ1 576
10/15 GJ1 420
Bal. 4,406
Robert Co. Accounts Receivable 113
10/02 GJ1 920 10/01 GJ1 800 200 GJ1 10/08
10/02 GJ1 920 600 GJ1 10/10
10/18 GJ1 700
Bal. 1,620

Andrew Albright, Capital 311

3,200 GJ1 10/01

Sales 411
800 GJ1 10/01
920 GJ1 10/02
210 GJ1 10/03
420 CJ1 10/15
700 GJ1 10/18
3,050 Bal.

Sales Returns &

Sales Discount 413 Allowances 412
10/10 GJ1 24 10/8 GJ1 200

ANDREW CO,
SCHEDULE OF ACCOUNTS RECEIVABLE
OCTOBER 31, 201X

Greenfield Co. $700

Robert Co. 920
Total Accounts Receivable $1,620

9B-5.
Sales ticket price $ 12,000
- Credit for return 500
= Sales price after credit $ 11,500
X Discount rate 1%
= Discount $ 115

Sales price after credit $ 11,500

X Sales tax rate 2%
= Sales tax $ 230

Sales price after credit $ 11,500

+ Sales tax 230
= Sales price after tax $ 11,730
- Discount 115
= Amount paid $ 11,615

SM-310
PROBLEM 9A-1

CIABATTA AND WHATNOT

GENERAL JOURNAL

PAGE 1

Date
201X Account Titles and Description PR Dr. Cr.
Jan. 1 Accounts Receivable, Cindi Co. 112/√ 5 0 0 00
Grocery Sales 411 5 0 0 00
Sales Inv. 1 on Account to Cindi

4 Accounts Receivable, Common Law Co. 112/√ 8 5 0 00

Bread Sales 410 8 5 0 00
Sales Inv. 2 on Account to Common Law

8 Accounts Receivable, Canadian Co. 112/√ 7 5 0 00

Grocery Sales 411 7 5 0 00
Sales Inv. 3 on Account to Canadian

10 Sales Returns and Allowances 412 2 1 0 00

Accounts Receivable, Cindi 112/√ 2 1 0 00
Issued Credit Memo #1

15 Accounts Receivable, Common Law Co. 112/√ 3 0 0 00

Bread Sales 410 3 0 0 00
Sales Inv. 4 on Account to Common Law

19 Accounts Receivable, Canadian Co. 112/√ 8 0 0 00

Grocery Sales 411 8 0 0 00
Sales Inv. 5 on Account to Canadian

25 Accounts Receivable, Cindi Co. 112/√ 1 5 0 00

Bread Sales 410 1 5 0 00
Sales Inv. 6 on Account to Cindi

SM-311
PROBLEM 9A-1 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME CANADIAN CO.

ADDRESS 8 JOSS AVE., LYNN, MA 01947

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jan. 8 GJ1 7 5 0 00 7 5 0 00
19 GJ1 8 0 0 00 1 5 5 0 00

NAME CINDI CO.

ADDRESS 942 MOSE ST., REVERE, MA 01938

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jan. 1 GJ1 5 0 0 00 5 0 0 00
10 GJ1 2 1 0 00 2 9 0 00
25 GJ1 1 5 0 00 4 4 0 00

NAME COMMON LAW CO.

ADDRESS 10 LOST RD., TOPSFIELD, MA 01998

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jan. 4 GJ1 8 5 0 00 8 5 0 00
15 GJ1 3 0 0 00 1 1 5 0 00

SM-312
PROBLEM 9A-1 (CONTINUED)
CIABATTA AND WHATNOT
GENERAL LEDGER
ACCOUNTS RECEIVABLE ACCOUNT NO. 112
Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 1 GJ1 5 0 0 00 5 0 0 00
4 GJ1 8 5 0 00 1 3 5 0 00
8 GJ1 7 5 0 00 2 1 0 0 00
10 GJ1 2 1 0 00 1 8 9 0 00
15 GJ1 3 0 0 00 2 1 9 0 00
19 GJ1 8 0 0 00 2 9 9 0 00
25 GJ1 1 5 0 00 3 1 4 0 00

BREAD SALES ACCOUNT NO. 410

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 4 GJ1 8 5 0 00 8 5 0 00
15 GJJ 3 0 0 00 1 1 5 0 00
25 GJ1 1 5 0 00 1 3 0 0 00

GROCERY SALES ACCOUNT NO. 411

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 1 GJ1 5 0 0 00 5 0 0 00
8 GJ1 7 5 0 00 1 2 5 0 00
19 GJ1 8 0 0 00 2 0 5 0 00

SALES RETURNS AND ALLOWANCES ACCOUNT NO. 412

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 10 GJ1 2 1 0 00 2 1 0 00

(3)
CIABATTA AND WHATNOT
SCHEDULE OF ACCOUNTS RECEIVABLE
JANUARY 31, 201X

CindI Co. $ 4 4 0 00
Canadian Co. 1 5 5 0 00
Common Law Co. 1 1 5 0 00
Total Accounts Receivable $3 1 4 0 00

SM-313
PROBLEM 9A-2

JACK'S AUTO SUPPLY

GENERAL JOURNAL
PAGE 2

Date
201X Account Titles and Description PR Dr. Cr.
Nov. 1 Accounts Receivable, R. Danielson 110/√ 1 6 9 6 00
Sales Tax Payable 210 9 6 00
Auto Parts Sales 410 1 6 0 0 00
Sold Danielson Invoice No. 60

5 Accounts Receivable, J. Wallace 110/√ 9 0 1 00

Sales Tax Payable 210 5 1 00
Auto Parts Sales 410 8 5 0 00
Sold Wallace Invoice No. 61

8 Accounts Receivable, L. Whitnall 100/√ 9 5 4 0 00

Sales Tax Payable 210 5 4 0 00
Auto Parts Sales 410 9 0 0 0 00
Sold Whitnall Invoice No. 62

10 Sales Returns and Allowances 429 8 5 0 00

Sales Tax Payable 210 5 1 00
Accounts Receivable, R. Danielson 110/√ 9 0 1 00
Issued Credit Memo #12

12 Accounts Receivable, J. Wallace 110/√ 7 9 5 00

Sales Tax Payable 210 4 5 00
Auto Parts Sales 410 7 5 0 00
Sold Wallace Invoice No. 63

SM-314
PROBLEM 9A-2 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME R. DANIELSON
ADDRESS 12 ASTER RD., MERIMACK, NH 02134

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Nov. 1 Balance √ 4 0 0 00
1 GJ2 1 6 9 6 00 2 0 9 6 00
10 GJ2 9 0 1 00 1 1 9 5 00

NAME J. WALLACE
ADDRESS 22 REESE ST., LACONIA, NH 04321

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Nov. 1 Balance √ 5 5 0 00
5 GJ2 9 0 1 00 1 4 5 1 00
12 GJ2 7 9 5 00 2 2 4 6 00

NAME L. WHITNALL
ADDRESS 9 ROE ST., BARTLETT, NH 01382

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Nov. 1 Balance √ 4 0 0 00
8 GJ2 9 5 4 0 00 9 9 4 0 00

SM-315
PROBLEM 9A-2 (CONTINUED)

JACK'S AUTO SUPPLY

PARTIAL GENERAL LEDGER

ACCOUNTS RECEIVABLE ACCOUNT NO. 110

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Nov. 1 Balance √ 1 3 5 0 00
1 GJ2 1 6 9 6 00 3 0 4 6 00
5 GJ2 9 0 1 00 3 9 4 7 00
8 GJ2 9 5 4 0 00 13 4 8 7 00
10 GJ2 9 0 1 00 12 5 8 6 00
12 GJ2 7 9 5 00 13 3 8 1 00

SALES TAX PAYABLE ACCOUNT NO. 210

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Nov. 1 Balance √ 1 9 0 0 00
1 GJ2 9 6 00 1 9 9 6 00
5 GJ2 5 1 00 2 0 4 7 00
8 GJ2 5 4 0 00 2 5 8 7 00
10 GJ2 5 1 00 2 5 3 6 00
12 GJ2 4 5 00 2 5 8 1 00

SM-316
 AUTO PARTS SALES ACCOUNT NO. 410
Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Nov. 1 GJ2 1 6 0 0 00 1 6 0 0 00
5 GJ2 8 5 0 00 2 4 5 0 00
8 GJ2 9 0 0 0 00 11 4 5 0 00
12 GJ2 7 5 0 00 12 2 0 0 00

SALES RETURNS AND ALLOWANCES ACCOUNT NO. 429

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Nov. 10 GJ2 8 5 0 00 8 5 0 00

SM-317
PROBLEM 9A-2 (CONCLUDED)
(3)

JACK'S AUTO SUPPLY

SCHEDULE OF ACCOUNTS RECEIVABLE
NOVEMBER 30, 201X

R. Danielson $1 1 9 5 00
J. Wallace 2 2 4 6 00
Lance Whitnall 9 9 4 0 00
Total Accounts Receivable $13 3 8 1 00

PROBLEM 9A-3
PATTEN'S SNEAKER SHOP
GENERAL JOURNAL
PAGE 2

Date
201X Account Titles and Description PR Dr. Cr.
May 1 Cash 10 14 5 0 0 00
Mike Patten, Capital 30 14 5 0 0 00
Owner Investment

3 Accounts Receivable, B. Donati 12/√ 9 0 0 00

Sales 40 9 0 0 00
Sales on Acct. Ticket No. 60

4 Accounts Receivable, Ron Lindall 12/√ 7 0 0 00

Sales 40 7 0 0 00
Sale on Acct. Ticket No. 61

9 Accounts Receivable, Jim Zamora 12/√ 4 0 0 00

Sales 40 4 0 0 00
Sale on Acct. Ticket No. 62

10 Cash 10 8 8 2 00
Sales Discount 42 1 8 00
Accounts Receivable, B. Donati 12/√ 9 0 0 00
Sales Ticket No. 60 Paid by Donati

20 Accounts Receivable, Pilar Pry 12/√ 3 0 0 0 00

Sales 40 3 0 0 0 00
Sale on Acct. Ticket No. 63

22 Cash 10 7 0 0 00
Accounts Receivable, Ron Lindall 12/√ 7 0 0 00
Sale on Acct. No. 61 Paid by Lindall

SM-318
PROBLEM 9A-3 (CONTINUED)
PATTEN'S SNEAKER SHOP
GENERAL JOURNAL
PAGE 3
Date
201X Account Titles and Description PR Dr. Cr.
May 23 Cash 10 2 4 0 0 00
Sales 40 2 4 0 0 00
Cash Sales

24 Sales Returns and Allowances 44 2 2 0 0 00

Accounts Receivable, Pilar Pry 12/√ 2 2 0 0 00
Issued Credit Memo #1

26 Cash 10 7 8 4 00
Sales Discount 42 1 6 00
Accounts Receivable, Pilar Pry 12/√ 8 0 0 00
Sales Ticket No. 63 Paid by Pry

28 Cash 10 6 8 0 0 00
Sales 40 6 8 0 0 00
Cash Sales

30 Cash 10 3 5 0 00
Sneaker Rack Equipment 14 3 5 0 00
Sold Rack Equipment

30 Accounts Receivable, Ron Lindall 12/√ 4 0 0 0 00

Sales 40 4 0 0 0 00
Sale on Acct. Sales Ticket No. 64

31 Sales, Returns and Allowances 44 7 0 0 00

Accounts Receivable, Ron Lindall 12/√ 7 0 0 00
Issued Credit Memo #2

SM-319
PROBLEM 9A-3 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME B. DONATI
ADDRESS 1822 RIVER RD., MEMPHIS, TN 09111

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
May 1 Balance √ 3 7 5 00
3 GJ2 9 0 0 00 1 2 7 5 00
10 GJ2 9 0 0 00 3 7 5 00

NAME RON LINDALL

ADDRESS 18 MASS. AVE., SAN DIEGO, CA 01999

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
May 1 Balance √ 8 5 0 00
4 GJ2 7 0 0 00 1 5 5 0 00
22 GJ2 7 0 0 00 8 5 0 00
30 GJ3 4 0 0 0 00 4 8 5 0 00
31 GJ3 7 0 0 00 4 1 5 0 00

SM-320
PROBLEM 9A-3 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME PILAR PRY

ADDRESS 918 MOORE DR., HOMEWOOD, IL 60430

Date Post
201X Explanation Ref. Debit Credit
Dr. Balance
May 1 Balance √ 5 5 0 00
20 GJ2 3 0 0 0 00 3 5 5 0 00
24 GJ3 2 2 0 0 00 1 3 5 0 00
26 GJ3 8 0 0 00 5 5 0 00

NAME JIM ZAMORA

ADDRESS 2 CHESTNUT ST., SWAMPSCOTT, MA 01970

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
May 1 Balance √ 6 5 0 00
9 GJ2 4 0 0 00 1 0 5 0 00

PATTEN'S SNEAKER SHOP

PARTIAL GENERAL LEDGER

CASH ACCOUNT NO. 10

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 15 0 0 0 00
1 GJ2 14 5 0 0 00 29 5 0 0 00
10 GJ2 8 8 2 00 30 3 8 2 00
22 GJ2 7 0 0 00 31 0 8 2 00
23 GJ3 2 4 0 0 00 33 4 8 2 00
26 GJ3 7 8 4 00 34 2 6 6 00
28 GJ3 6 8 0 0 00 41 0 6 6 00
30 GJ3 3 5 0 00 41 4 1 6 00

SM-321
PROBLEM 9A-3 (CONTINUED)

ACCOUNTS RECEIVABLE ACCOUNT NO.12

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 2 4 2 5 00
3 GJ2 9 0 0 00 3 3 2 5 00
4 GJ2 7 0 0 00 4 0 2 5 00
9 GJ2 4 0 0 00 4 4 2 5 00
10 GJ2 9 0 0 00 3 5 2 5 00
20 GJ2 3 0 0 0 00 6 5 2 5 00
22 GJ2 7 0 0 00 5 8 2 5 00
24 GJ3 2 2 0 0 00 3 6 2 5 00
26 GJ3 8 0 0 00 2 8 2 5 00
30 GJ3 4 0 0 0 00 6 8 2 5 00
31 GJ3 7 0 0 00 6 1 2 5 00

SNEAKER RACK EQUIPMENT ACCOUNT NO. 14

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 8 5 0 00
30 GJ3 3 5 0 00 5 0 0 00

MIKE PATTEN, CAPITAL ACCOUNT NO. 30

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 39 0 0 0 00
1 GJ2 14 5 0 0 00 53 5 0 0 00

SALES ACCOUNT NO. 40

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 2 2 0 0 00
3 GJ2 9 0 0 00 3 1 0 0 00
4 GJ2 7 0 0 00 3 8 0 0 00
9 GJ2 4 0 0 00 4 2 0 0 00
20 GJ2 3 0 0 0 00 7 2 0 0 00
23 GJ3 2 4 0 0 00 9 6 0 0 00
28 GJ3 6 8 0 0 00 16 4 0 0 00
30 GJ3 4 0 0 0 00 20 4 0 0 00

SM-322
PROBLEM 9A-3 (CONCLUDED)

SALES DISCOUNT ACCOUNT NO. 42

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 10 GJ2 1 8 00 1 8 00
26 GJ3 1 6 00 3 4 00

SALES RETURNS & ALLOWANCES ACCOUNT NO. 44

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 24 GJ3 2 2 0 0 00 2 2 0 0 00
31 GJ3 7 0 0 00 2 9 0 0 00

(3)

PATTEN'S SNEAKER SHOP

SCHEDULE OF ACCOUNTS RECEIVABLE
MAY 31, 201X

B. Donati $ 3 7 5 00
Ron Lindall 4 1 5 0 00
Pilar Pry 5 5 0 00
Jim Zamora 1 0 5 0 00
Total Accounts Receivable $6 1 2 5 00

SM-323
PROBLEM 9A-4
GARY'S COSMETIC MARKET
GENERAL JOURNAL
PAGE 1

Date
201X Account Titles and Description PR Dr. Cr.
Oct. 1 Cash 10 8 5 0 0 00
Gary Wilcox, Capital 30 8 5 0 0 00
Owner Investment

5 Cash 10 5 0 8 8 00
Sales Tax Payable 20 2 8 8 00
Lipstick Sales 40 4 8 0 0 00
Cash Sales, Lipstick

5 Cash 10 2 6 5 0 00
Sales Tax Payable 20 1 5 0 00
Eye Shadow Sales 44 2 5 0 0 00
Cash Sales, Eye Shadow

8 Accounts Receivable, Fione Tay Co. 12/√ 5 3 0 00

Sales Tax Payable 20 3 0 00
Lipstick Sales 40 5 0 0 00
Sales on Acct. Ticket No. 1, Tay

9 Accounts Receivable, Marika Sanford Co. 12/√ 1 5 9 0 00

Sales Tax Payable 20 9 0 00
Eye Shadow Sales 44 1 5 0 0 00
Sale on Acct. Ticket No. 2, Sanford

15 Sales Returns and Allowances 42 3 0 0 00

Sales Tax Payable 20 1 8 00
Accounts Receivable, Fione Tay Co. 12/√ 3 1 8 00
Issued Credit Memo #1

19 Cash 10 7 9 5 00
Accounts Receivable, Marika Sanford Co. 12/√ 7 9 5 00
Sanchez 1/2 Sale Ticket No. 2

SM-324
PROBLEM 9A-4 (CONTINUED)

GARY'S COSMETIC MARKET

GENERAL JOURNAL
PAGE 2
Date
201X Account Titles and Description PR Dr. Cr.
Oct. 21 Accounts Receivable, Mary Ruvolo Co. 12/√ 5 8 3 00
Sales Tax Payable 20 3 3 00
Lipstick Sales 40 5 5 0 00
Sales Acct. Ticket No. 3, Ruvolo

24 Accounts Receivable, Peter Melnyk Co. 12/√ 7 4 2 00

Sales Tax Payable 20 4 2 00
Eye Shadow Sales 44 7 0 0 00
Sales Acct. Ticket No. 4, Melnyk

25 Sales Returns and Allowances 42 1 5 0 00

Sales Tax Payable 20 9 00
Accounts Receivable, Mary Ruvolo 12/√ 1 5 9 00
Issued Credit Memo #2

29 Cash 10 4 1 3 4 00
Sales Tax Payable 20 2 3 4 00
Lipstick Sales 40 1 3 0 0 00
Eye Shadow Sales 44 2 6 0 0 00

29 Accounts Receivable, Marika Sanford Co. 12/√ 5 3 0 00

Sales Tax Payable 20 3 0 00
Lipstick Sales 40 5 0 0 00
Sales on Acct. Ticket No. 5, Sanford

30 Cash 10 5 3 0 00
Accounts Receivable, Marika Sanford Co. 12/√ 5 3 0 00
Sales Ticket No. 5 Paid

SM-325
PROBLEM 9A-4 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME FIONE TAY CO.

ADDRESS 2 RYAN RD., BUFFALO, NY 09113

Date Post Debit

201X Explanation Ref. Debit Credit Balance
Oct. 8 GJ1 5 3 0 00 5 3 0 00
15 GJ1 3 1 8 00 2 1 2 00

NAME MARIKA SANFORD CO.

ADDRESS 14 BONE RD., ENGLEWOOD CLIFFS, NJ 07632

Date Post Credit Debit

201X Explanation Ref. Debit Balance
Oct. 9 GJ1 1 5 9 0 00 1 5 9 0 00
19 GJ1 7 9 5 00 7 9 5 00
29 GJ2 5 3 0 00 1 3 2 5 00
30 GJ2 5 3 0 00 7 9 5 00

NAME MARY RUVOLO CO.

ADDRESS 2 MARION RD., BOSTON, MA 01981

Date Post Debit

201X Explanation Ref. Debit Credit Balance
Oct. 21 GJ2 5 8 3 00 5 8 3 00
25 GJ2 1 5 9 00 4 2 4 00

SM-326
PROBLEM 9A-4 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME PETER MELNYK CO.

ADDRESS 4 REEL RD., LANCASTER, PA 04332

Date Post Debit

201X Explanation Ref. Debit Credit Balance
Oct. 24 GJ2 7 4 2 00 7 4 2 00

SM-327
PROBLEM 9A-4 (CONTINUED)
GARY'S COSMETIC MARKET
PARTIAL GENERAL LEDGER
CASH ACCOUNT NO. 10
Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 1 GJ1 8 5 0 0 00 8 5 0 0 00
5 GJ1 5 0 8 8 00 13 5 8 8 00
5 GJ1 2 6 5 0 00 16 2 3 8 00
17 GJ1 7 9 5 00 17 0 3 3 00
29 GJ2 4 1 3 4 00 21 1 6 7 00
30 GJ2 5 3 0 00 21 6 9 7 00
ACCOUNTS RECEIVABLE ACCOUNT NO. 12
Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 8 GJ1 5 3 0 00 5 3 0 00
9 GJ1 1 5 9 0 00 2 1 2 0 00
15 GJ1 3 1 8 00 1 8 0 2 00
19 GJ1 7 9 5 00 1 0 0 7 00
21 GJ2 5 8 3 00 1 5 9 0 00
24 GJ2 7 4 2 00 2 3 3 2 00
25 GJ2 1 5 9 00 2 1 7 3 00
29 GJ2 5 3 0 00 2 7 0 3 00
30 GJ2 5 3 0 00 2 1 7 3 00

SALES TAX PAYABLE ACCOUNT NO. 20

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 5 GJ1 2 8 8 00 2 8 8 00
5 GJ1 1 5 0 00 4 3 8 00
8 GJ1 3 0 00 4 6 8 00
9 GJ1 9 0 00 5 5 8 00
15 GJ1 1 8 00 5 4 0 00
21 GJ2 3 3 00 5 7 3 00
24 GJ2 4 2 00 6 1 5 00
25 GJ2 9 00 6 0 6 00
29 GJ2 2 3 4 00 8 4 0 00
29 GJ2 3 0 00 8 7 0 00
GARY WILCOX, CAPITAL ACCOUNT NO. 30
Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 1 GJ1 8 5 0 0 00 8 5 0 0 00

SM-328
PROBLEM 9A-4 (CONTINUED)

LIPSTICK SALES ACCOUNT NO. 40

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 5 GJ1 4 8 0 0 00 4 8 0 0 00
8 GJ1 5 0 0 00 5 3 0 0 00
21 GJ2 5 5 0 00 5 8 5 0 00
29 GJ2 1 3 0 0 00 7 1 5 0 00
29 GJ2 5 0 0 00 7 6 5 0 00

SALES RETURNS AND ALLOWANCES, LIPSTICK ACCOUNT NO. 42

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 15 GJ1 3 0 0 00 3 0 0 00
25 GJ2 1 5 0 00 4 5 0 00

EYE SHADOW SALES ACCOUNT NO. 44

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 5 GJ1 2 5 0 0 00 2 5 0 0 00
9 GJ1 1 5 0 0 00 4 0 0 0 00
24 GJ2 7 0 0 00 4 7 0 0 00
29 GJ2 2 6 0 0 00 7 3 0 0 00

(3)

GARY'S COSMETIC MARKET

SCHEDULE OF ACCOUNTS RECEIVABLE
OCTOBER 31, 201X

Fione Tay Co. $ 2 1 2 00

Marika Sanford Co. 7 9 5 00
Mary Ruvolo Co. 4 2 4 00
Peter Melnyk Co. 7 4 2 00
Total Accounts Receivable $2 1 7 3 00

SM-329
PROBLEM 9B-1

CIABATTA AND WHATNOT

GENERAL JOURNAL
PAGE 1
Date
201X Account Titles and Description PR Dr. Cr.
Jan. 1 Accounts Receivable, Cindi Co. 112/√ 9 0 0 00
Grocery Sales 411 9 0 0 00
Sales Inv. No. 1 on Acct. to Cindi

4 Accounts Receivable, Common Law Co. 112/√ 5 5 0 00

Bread Sales 411 5 5 0 00
Sales Inv. No. 2 on Acct. to Common Law

8 Accounts Receivable, Canadian Co. 112/√ 1 0 0 0 00

Grocery Sales 411 1 0 0 0 00
Sales Inv. No. 3 on Acct. to Canadian

10 Sales Returns and Allowances 412 1 6 0 00

Accounts Receivable Cindi Co. 112/√ 1 6 0 00
Issued Credit Memo #1

15 Accounts Receivable, Common Law Co. 112/√ 3 0 0 00

Bread Sales 410 3 0 0 00
Sales Inv. No. 4 on Acct. to Common Law

19 Accounts Receivable, Canadian Co. 112/√ 4 0 0 00

Grocery Sales 411 4 0 0 00
Sales Inv. No. 5 on Acct. to Canadian

25 Accounts Receivable, Cindi Co. 112/√ 5 0 0 00

Bread Sales 410 5 0 0 00
Sales Inv. No 6 on Acct. to Cindi

SM-330
PROBLEM 9B-1 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME CANADIAN CO.

ADDRESS 8 JOSS AVE., LYNN, MA 01947

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jan. 8 GJ1 1 0 0 0 00 1 0 0 0 00
19 GJ1 4 0 0 00 1 4 0 0 00

NAME CINDI CO.

ADDRESS 942 MOSE ST., REVERE, MA 01938

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jan. 1 GJ1 9 0 0 00 9 0 0 00
10 GJ1 1 6 0 00 7 4 0 00
25 GJ1 5 0 0 00 1 2 4 0 00

NAME COMMON LAW CO.

ADDRESS 10 LOST RD., TOPSFIELD, MA 01998

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jun. 4 GJ1 5 5 0 00 5 5 0 00
15 GJ1 3 0 0 00 8 5 0 00

SM-331
PROBLEM 9B-1 (CONCLUDED)
CIABATTA AND WHATNOT
GENERAL LEDGER

ACCOUNTS RECEIVABLE ACCOUNT NO. 112

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 1 GJ1 9 0 0 00 9 0 0 00
4 GJ1 5 5 0 00 1 4 5 0 00
8 GJ1 1 0 0 0 00 2 4 5 0 00
10 GJ1 1 6 0 00 2 2 9 0 00
15 GJ1 3 0 0 00 2 5 9 0 00
19 GJ1 4 0 0 00 2 9 9 0 00
25 GJ1 5 0 0 00 3 4 9 0 00

BREAD SALES ACCOUNT NO. 410

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 4 GJ1 5 5 0 00 5 5 0 00
15 GJ1 3 0 0 00 8 5 0 00
25 GJ1 5 0 0 00 1 3 5 0 00

GROCERY SALES ACCOUNT NO. 411

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 1 GJ1 9 0 0 00 9 0 0 00
8 GJ1 1 0 0 0 00 1 9 0 0 00
19 GJ1 4 0 0 00 2 3 0 0 00

SALES RETURNS AND ALLOWANCES ACCOUNT NO. 412

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 10 GJ1 1 6 0 00 1 6 0 00

CIABATTA AND WHATNOT

SCHEDULE OF ACCOUNTS RECEIVABLE
SM-332
 JANUARY 31, 201X

Canadian Co. $1 4 0 0 00
Cindi Co. 1 2 4 0 00
Common Law Co. 8 5 0 00
Total Accounts Receivable $3 4 9 0 00

SM-333
PROBLEM 9B-2

JACK'S AUTO SUPPLY

GENERAL JOURNAL
PAGE 2

Date
201X Account Titles and Description PR Dr. Cr.
Nov. 1 Accounts Receivable, R. Danielson 110/√ 6 4 8 00
Sales Tax Payable 210 4 8 00
Auto Part Sales 410 6 0 0 00
Sold Danielson Inv. No. 30

5 Accounts Receivable, J. Wallace 110/√ 9 7 2 00

Sales Tax Payable 210 7 2 00
Auto Part Sales 410 9 0 0 00
Sold Wallace Inv. No. 31

8 Accounts Receivable, L. Whitnall 112/√ 9 7 2 0 00

Sales Tax Payable 210 7 2 0 00
Auto Parts Sales 410 9 0 0 0 00
Sold Whitnall Inv. No. 32

10 Sales Returns and Allowances 420 4 5 0 00

Sales Tax Payable 210 3 6 00
Accounts Receivable, R. Danielson 110/√ 4 8 6 00
Issued Credit Memo #12

12 Accounts Receivable, J. Wallace 112/√ 4 8 6 00

Sales Tax Payable 210 3 6 00
Auto Parts Sales 410 4 5 0 00
Sold Wallace Inv. No. 33

SM-334
PROBLEM 9B-2 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME R. DANIELSON
ADDRESS 12 ASTER RD., MERIMACK, NH 02134

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Nov. 1 Balance √ 1 1 0 0 00
1 GJ2 6 4 8 00 1 7 4 8 00
10 GJ2 4 8 6 00 1 2 6 2 00

NAME J. WALLACE
ADDRESS 22 REESE ST., LACONIA, NH 04321

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Nov. 1 Balance √ 2 5 0 00
5 GJ2 9 7 2 00 1 2 2 2 00
12 GJ2 4 8 6 00 1 7 0 8 00

NAME L. WHITNALL
ADDRESS 9 ROE ST., BARTLETT, NH 01382

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Nov. 1 Balance √ 5 0 0 00
8 GJ2 9 7 2 0 00 10 2 2 0 00

SM-335
PROBLEM 9B-2 (CONTINUED)

JACK'S AUTO SUPPLY

PARTIAL GENERAL LEDGER

ACCOUNTS RECEIVABLE ACCOUNT NO. 110

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Nov. 1 Balance √ 1 8 5 0 00
1 GJ2 6 4 8 00 2 4 9 8 00
5 GJ2 9 7 2 00 3 4 7 0 00
8 GJ2 9 7 2 0 00 13 1 9 0 00
10 GJ2 4 8 6 00 12 7 0 4 00
12 GJ2 4 8 6 00 13 1 9 0 00

SALES TAX PAYABLE ACCOUNT NO. 210

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Nov. 1 Balance √ 2 0 0 0 00
1 GJ2 4 8 00 2 0 4 8 00
5 GJ2 7 2 00 2 1 2 0 00
8 GJ2 7 2 0 00 2 8 4 0 00
10 GJ2 3 6 00 2 8 0 4 00
12 GJ2 3 6 00 2 8 4 0 00

AUTO PARTS SALES ACCOUNT NO. 410

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Nov. 1 GJ2 6 0 0 00 6 0 0 00
5 GJ2 9 0 0 00 1 5 0 0 00
8 GJ2 9 0 0 0 00 10 5 0 0 00
12 GJ2 4 5 0 00 10 9 5 0 00

SALES RETURNS AND ALLOWANCES ACCOUNT NO. 420

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Nov. 10 GJ2 4 5 0 00 4 5 0 00

SM-336
PROBLEM 9B-2 (CONCLUDED)
(3)

JACK'S AUTO SUPPLY

SCHEDULE OF ACCOUNTS RECEIVABLE
NOVEMBER 30, 201X

R. Danielson $1 2 6 2 00
J. Wallace 1 7 0 8 00
Lance Whitnall 10 2 2 0 00
Total Accounts Receivable $13 1 9 0 00

SM-337
 PROBLEM 9B-3
PATTERN'S SNEAKER SHOP
GENERAL JOURNAL
PAGE 2

Date
201X Account Titles and Description PR Dr. Cr.
May 1 Cash 10 11 0 0 0 00
Mike Pattern, Capital 30 11 0 0 0 00
Owner Investment

3 Accounts Receivable, B. Donati 12/√ 8 0 0 00

Sales 40 8 0 0 00
Sale on Acct. Ticket No. 70

4 Accounts Receivable, Ron Lindall 12/√ 6 0 0 00

Sales 40 6 0 0 00
Sales on Acct. Ticket No. 71

9 Accounts Receivable, Jim Zamora 12/√ 3 0 0 00

Sales 40 3 0 0 00
Sales on Acct. Ticket No. 72

10 Cash 10 7 9 2 00
Sales Discount 42 8 00
Accounts Receivable, B. Donati 12/√ 8 0 0 00
Sales Ticket No. 70 Paid by Donati

20 Accounts Receivable, Pilar Pry 12/√ 2 0 0 0 00

Sales 40 2 0 0 0 00
Sale on Acct. Ticket No. 73

22 Cash 10 6 0 0 00
Accounts Receivable, Ron Lindall 12/√ 6 0 0 00
Sales Ticket No. 71 Paid by Lindall

23 Cash 10 2 0 0 0 00
Sales 40 2 0 0 0 00
Cash Sales

SM-338
 PROBLEM 9B-3 (CONTINUED)
PATTERN'S SNEAKER SHOP
GENERAL JOURNAL
PAGE 3
Date
201X Account Titles and Description PR Dr. Cr.
May 24 Sales Returns and Allowances 44 1 8 0 0 00
Accounts Receivable, Pilar Pry 12/√ 1 8 0 0 00
Issued Credit Memo #1

26 Cash 10 1 9 8 00
Sales Discount 42 2 00
Accounts Receivable, Pilar Pry 12/√ 2 0 0 00
Sales Ticket No. 73 Paid by Pry

28 Cash 10 7 0 0 0 00
Sales 40 7 0 0 0 00
Cash Sales

30 Cash 10 1 5 0 00
Sneaker Rack Equipment 14 1 5 0 00
Sold Rack Equipment

30 Accounts Receivable, Ron Lindall 12/√ 5 0 0 0 00

Sales 40 5 0 0 0 00
Sales on Acct. Sales Ticket No. 74

31 Sales Returns and Allowances 44 8 7 5 00

Accounts Receivable, Ron Lindall 12/√ 8 7 5 00
Issued Credit Memo #2

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME B. DONATI
ADDRESS 1822 RIVER RD., MEMPHIS, TN 38111

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
May 1 Balance √ 3 2 5 00
3 GJ2 8 0 0 00 1 1 2 5 00
10 GJ2 8 0 0 00 3 2 5 00

SM-339
NAME RON LINDALL
ADDRESS 18 MASS. AVE., SAN DIEGO, CA 92190

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
May 1 Balance √ 8 0 0 00
4 GJ2 6 0 0 00 1 4 0 0 00
22 GJ2 6 0 0 00 8 0 0 00
30 GJ3 5 0 0 0 00 5 8 0 0 00
31 GJ3 8 7 5 00 4 9 2 5 00

SM-340
PROBLEM 9B-3 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME PILAR PRY

ADDRESS 918 MOORE DR., HOMEWOOD, IL 60430

Date Post
201X Explanation Ref. Debit Credit
Dr. Balance
May 1 Balance √ 5 0 0 00
20 GJ2 2 0 0 0 00 2 5 0 0 00
24 GJ3 1 8 0 0 00 7 0 0 00
26 GJ3 2 0 0 00 5 0 0 00

NAME JIM ZAMORA

ADDRESS 2 CHESTNUT ST., SWAMPSCOTT, MA 01970

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
May 1 Balance √ 7 0 0 00
9 GJ2 3 0 0 00 1 0 0 0 00

PAINTER'S SNEAKER SHOP

PARTIAL GENERAL LEDGER

CASH ACCOUNT NO.10

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 14 0 0 0 00
1 GJ2 11 0 0 0 00 25 0 0 0 00
10 GJ2 7 9 2 00 25 7 9 2 00
22 GJ2 6 0 0 00 26 3 9 2 00
23 GJ2 2 0 0 0 00 28 3 9 2 00
26 GJ3 1 9 8 00 28 5 9 0 00
28 GJ3 7 0 0 0 00 35 5 9 0 00
30 GJ3 1 5 0 00 35 7 4 0 00

SM-341
PROBLEM 9B-3 (CONTINUED)

ACCOUNTS RECEIVABLE ACCOUNT NO. 12

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 2 3 2 5 00
3 GJ2 8 0 0 00 3 1 2 5 00
4 GJ2 6 0 0 00 3 7 2 5 00
9 GJ2 3 0 0 00 4 0 2 5 00
10 GJ2 8 0 0 00 3 2 2 5 00
20 GJ2 2 0 0 0 00 5 2 2 5 00
22 GJ2 6 0 0 00 4 6 2 5 00
24 GJ3 1 8 0 0 00 2 8 2 5 00
26 GJ3 2 0 0 00 2 6 2 5 00
30 GJ3 5 0 0 0 00 7 6 2 5 00
31 GJ3 8 7 5 00 6 7 5 0 00

SNEAKER RACK EQUIPMENT ACCOUNT NO. 14

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 1 3 0 0 00
31 GJ3 1 5 0 00 1 1 5 0 00

MIKE PATTERN, CAPITAL ACCOUNT NO. 30

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 39 0 0 0 00
1 GJ2 11 0 0 0 00 50 0 0 0 00

SALES ACCOUNT NO. 40

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 1 Balance √ 2 5 0 0 00
3 GJ2 8 0 0 00 3 3 0 0 00
4 GJ2 6 0 0 00 3 9 0 0 00
9 GJ2 3 0 0 00 4 2 0 0 00
20 GJ2 2 0 0 0 00 6 2 0 0 00
23 GJ2 2 0 0 0 00 8 2 0 0 00
28 GJ3 7 0 0 0 00 15 2 0 0 00
30 GJ3 5 0 0 0 00 20 2 0 0 00

SM-342
 SALES DISCOUNT ACCOUNT NO. 42
Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 10 GJ2 8 00 8 00
26 GJ3 2 00 1 0 00

SALES RETURNS AND ALLOWANCES ACCOUNT NO. 44

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
May 24 GJ3 1 8 0 0 00 1 8 0 0 00
31 GJ3 8 7 5 00 2 6 7 5 00

PATTERN'S SNEAKER SHOP

SCHEDULE OF ACCOUNTS RECEIVABLE
MAY 31, 201X

B. Donati $ 3 2 5 00
Ron Lindall 4 9 2 5 00
Pilar Pry 5 0 0 00
Jim Zamora 1 0 0 0 00
Total Accounts Receivable $6 7 5 0 00

SM-343
 PROBLEM 9B-4

GARY'S COSMETIC MARKET

GENERAL JOURNAL

PAGE 1

Date
201X Account Titles and Description PR Dr. Cr.
Oct. 1 Cash 10 9 5 0 0 00
Gary Wilcox, Capital 30 9 5 0 0 00
Owner Investment

5 Cash 10 5 0 9 6 00
Sales Tax Payable 20 1 9 6 00
Lipstick Sales 40 4 9 0 0 00
Cash Sales, Lipstick

5 Cash 10 2 6 0 0 00
Sales Tax Payable 20 1 0 0 00
Eye Shadow Sales 44 2 5 0 0 00
Cash Sales, Eye Shadow

8 Accounts Receivable, Fione Tay Co. 12/√ 5 2 0 00

Sales Tax Payable 20 2 0 00
Lipstick Sales 40 5 0 0 00
Sales on Acct. Ticket No. 1, Tay

9 Accounts Receivable, Marika Sanford Co. 12/√ 6 2 4 00

Sales Tax Payable 20 2 4 00
Eye Shadow Sales 44 6 0 0 00
Sales on Acct. Ticket No. 2, Sanford

15 Sales Returns and Allowances 42 5 0 00

Sales Tax Payable 20 2 00
Accounts Receivable, Fione Tay 12/√ 5 2 00
Issued Credit Memo #1

19 Cash 10 3 1 2 00
Accounts Receivable, Marika Sanford 12/√ 3 1 2 00
Sanford Paid 1/2 Sales Ticket No. 2

SM-344
PROBLEM 9B-4 (CONTINUED)

GARY'S COSMETIC MARKET

GENERAL JOURNAL

PAGE 2
Date
201X Account Titles and Description PR Dr. Cr.
Oct. 21 Accounts Receivable, Mry Ruvolo Co. 12√ 5 2 0 00
Sales Tax Payable 20 2 0 00
Lipstick Sales 40 5 0 0 00
Sales on Acct. Ticket No. 3, Ruvolo

24 Accounts Receivable, Peter Melnyk Co. 12√ 8 3 2 00

Sales Tax Payable 20 3 2 00
Eye Shadow Sales 44 8 0 0 00
Sales on Acct. Ticket No. 4, Melnyk

25 Sales Returns and Allowances 42 3 0 0 00

Sales Tax Payable 20 1 2 00
Accounts Receivable, Mary Ruvolo 12√ 3 1 2 00
Issued Credit Memo #2

29 Cash 10 4 3 6 8 00
Sales Tax Payable 20 1 6 8 00
Lipstick Sales 40 7 0 0 00
Eye Shadow Sales 44 3 5 0 0 00
Cash Sales

29 Accounts Receivable, Marika Sanford 12√ 5 2 0 00

Sales Tax Payable 20 2 0 00
Lipstick Sales 40 5 2 0 00
Sales on Acct. Ticket No. 5, Sanford

30 Cash 10 5 2 0 00
Accounts Receivable, Marika Sanford Co. 5 2 0 00
Sales Ticket No. 5, Paid

SM-345
 PROBLEM 9B-4 (CONTINUED)

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME FIONE TAY CO.

ADDRESS 2 RYAN RD., BUFFALO, NY 12413

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Oct. 8 GJ1 5 2 0 00 5 2 0 00
15 GJ1 5 2 00 4 6 8 00

NAME MARIKA SANFORD CO.

ADDRESS 14 BONE DR., ENGLEWOOD CLIFFS, NJ 07632

Date Post Debit

201X Explanation Ref. Debit Credit Balance
Oct. 9 GJ1 6 2 4 00 6 2 4 00
19 GJ1 3 1 2 00 3 1 2 00
29 GJ2 5 2 0 00 8 3 2 00
30 GJ2 5 2 0 00 3 1 2 00

NAME MARY RUVOLO CO.

ADDRESS 2 MARION RD., BOSTON, MA 02181

Date Post Debit

201X Explanation Ref. Debit Credit Balance
Oct. 21 GJ2 5 2 0 00 5 2 0 00
25 GJ2 3 1 2 00 2 0 8 00

SM-346
PROBLEM 9B-4 (CONTINUED)
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME PETER MELNYK CO.

ADDRESS 4 REEL RD., LANCASTER, PA 17632

Date Post Debit

201X Explanation Ref. Debit Credit Balance
Oct. 24 GJ2 8 3 2 00 8 3 2 00

GARY'S COSMETIC MARKET

GENERAL LEDGER

CASH ACCOUNT NO. 10

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 1 GJ1 9 5 0 0 00 9 5 0 0 00
5 GJ1 5 0 9 6 00 14 5 9 6 00
5 GJ1 2 6 0 0 00 17 1 9 6 00
19 GJ1 3 1 2 00 17 5 0 8 00
29 GJ2 4 3 6 8 00 21 8 7 6 00
30 GJ2 5 2 0 00 22 3 9 6 00

.
ACCOUNTS RECEIVABLE ACCOUNT NO. 12
Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 8 GJ1 5 2 0 00 5 2 0 00
9 GJ1 6 2 4 00 1 1 4 4 00
15 GJ1 5 2 00 1 0 9 2 00
19 GJ1 3 1 2 00 7 8 0 00
21 GJ2 5 2 0 00 1 3 0 0 00
24 GJ2 8 3 2 00 2 1 3 2 00
25 GJ2 3 1 2 00 1 8 2 0 00
29 GJ2 5 2 0 00 2 3 4 0 00
30 GJ2 5 2 0 00 1 8 2 0 00

SM-347
PROBLEM 9B-4 (CONTINUED)

SALES TAX PAYABLE ACCOUNT NO. 20

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 5 GJ1 1 9 6 00 1 9 6 00
5 GJ1 1 0 0 00 2 9 6 00
8 GJ1 2 0 00 3 1 6 00
9 GJ1 2 4 00 3 4 0 00
15 GJ1 2 00 3 3 8 00
21 GJ2 2 0 00 3 5 8 00
24 GJ2 3 2 00 3 9 0 00
25 GJ2 1 2 00 3 7 8 00
29 GJ2 1 6 8 00 5 4 6 00
29 GJ2 2 0 00 5 6 6 00

GARY WILCOX, CAPITAL ACCOUNT NO. 30

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 1 GJ1 9 5 0 0 00 9 5 0 0 00

SM-348
PROBLEM 9B-4 (CONTINUED)

LIPSTICK SALES ACCOUNT NO. 40

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 5 GJ1 4 9 0 0 00 4 9 0 0 00
8 GJ1 5 0 0 00 5 4 0 0 00
21 GJ2 5 0 0 00 5 9 0 0 00
29 GJ2 7 0 0 00 6 6 0 0 00
29 GJ2 5 0 0 00 7 1 0 0 00

SALES RETURNS AND ALLOWANCES ACCOUNT NO. 42

Post
Explanation Ref. Balance
Date
201X Debit Credit Debit Credit
Oct. 15 GJ1 5 0 00 5 0 00
25 GJ2 3 0 0 00 3 5 0 00

EYE SHADOW SALES ACCOUNT NO. 44

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Oct. 5 GJ1 2 5 0 0 00 2 5 0 0 00
9 GJ1 6 0 0 00 3 1 0 0 00
24 GJ2 8 0 0 00 3 9 0 0 00
29 GJ2 3 5 0 0 00 7 4 0 0 00

(3)

GARY'S COSMETIC MARKET

SCHEDULE OF ACCOUNTS RECEIVABLE
OCTOBER 31, 201X
Fione Tay Co. $4 6 8 00
Marika Sanford Co. 3 1 2 00
Mary Ruvolo Co. 2 0 8 00
Peter Melnyk Co. 8 3 2 00
Total Accounts Receivable $1 8 2 0 00

SM-349
SOLUTION TO READING KELLOGG ANNUAL REPORT

The account is cost of goods sold.

SM-350
 CONTINUING PROBLEM SOLUTION: ON THE JOB: SANCHEZ COMPUTER CENTER

SANCHEZ COMPUTER CENTER

GENERAL JOURNAL

PAGE 4

Date
201X Account Titles and Description PR Dr. Cr.
Jan. 1 Accounts Receivable, Taylor Golf 1020/√ 7 0 0 00
Sales 4000 7 0 0 00
Sales Invoice 5000

10 Accounts Receivable, Anthony Pitale 1020/√ 3 0 0 0 00

Sales 4000 3 0 0 0 00
Sales Invoice 5001

11 Cash 1000 3 0 0 0 00
Accounts Receivable, Accu Pac 1020/√ 3 0 0 0 00
Partial Payment, Accu Pac

12 Cash 1000 2 0 0 0 00
Sales 4010 2 0 0 0 00
Cash Sales

19 Accounts Receivable, Vita Needle 1020/√ 4 0 0 0 00

Sales 4000 4 0 0 0 00
Sales Invoice 5002

20 Cash 1000 2 9 4 0 00
Sales Discount 4030 6 0 00
Accounts Receivable, Anthony Pitale 1020/√ 3 0 0 0 00
Inv. 5001 PAID

25 Sales Returns and Allowances 516 4 0 0 00

Accounts Receivable, Taylor Golf 1020/√ 4 0 0 00
Issued Credit Memo

29 Cash 4030 3 8 4 0 00
Sales Discount 1 6 0 00
Accounts Receivable, Vita Needle 1020/√ 4 0 0 0 00

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CONTINUING PROBLEM (CONTINUED)

Cash Account No. 1000

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit

Jan 1 Balance Forward √ 3,336.65

11 J6 3,000.00 6,336.65

12 J6 2,000.00 8,336.65

20 J6 2,940.00 11,276.65

29 J6 3,840.00 15,116.65

ACCOUNTS RECEIVABLE ACCOUNT NO. 1020

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 1 Balance √ 13 6 0 0 00
1 GJ4 7 0 0 00 14 3 0 0 00
10 GJ4 3 0 0 0 00 17 3 0 0 00
11 GJ4 3 0 0 0 00 14 3 0 0 00
19 GJ4 4 0 0 0 00 18 3 0 0 00
25 GJ4 3 0 0 0 00 15 3 0 0 00
25 GJ4 4 0 0 00 14 9 0 0 00
29 GJ4 4 0 0 0 00 10 9 0 0 00

SALES DISCOUNTS ACCOUNT NO. 4030

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 25 GJ4 6 0 00 6 0 00
29 GJ4 1 6 0 00 2 2 0 00

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 SALES ACCOUNT NO. 4000
Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 1 GJ4 7 0 0 00 7 0 0 00
10 GJ4 3 0 0 0 00 3 7 0 0 00
12 GJ4 2 0 0 0 00 5 7 0 0 00
19 GJ4 4 0 0 0 00 9 7 0 0 00

SALES RETURN AND ALLOWANCES ACCOUNT NO. 516

Balance
Date Post
201X Explanation Ref. Debit Credit Debit Credit
Jan. 24 GJ4 4 0 0 00 4 0 0 00

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 ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
NAME TAYLOR GOLF ACCOUNT NO. 100
ADDRESS 1010 MOCKINGBIRD LANE, CARLSBAD, CA 92008

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jan. 1 Balance forward √ 2 9 0 0 00
1 Invoice #5000 2/10, n/30 GJ4 7 0 0 00 3 6 0 0 00
29 Return Merch. GJ4 4 0 0 00 3 2 0 0 00

NAME VITA NEEDLE ACCOUNT NO. 101

ADDRESS 144 CANTATA, IRVINE, CA 92606

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jan. 1 Balance forward √ 6 8 0 0 00
19 #5002 4/10, n/30 GJ4 4 0 0 0 00 10 8 0 0 00
29 #5002 (less disc.) GJ4 4 0 0 0 00 6 8 0 0 00

NAME ACCU PAC ACCOUNT NO. 103

ADDRESS 1717 JORDAN ST., SAN CLEMENTE, CA 91607

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jan. 1 Balance forward √ 3 9 0 0 00
11 GJ4 3 0 0 0 00 9 0 0 00

NAME ANTHONY J. PITALE ACCOUNT NO. 104

ADDRESS 600 NEWPORT BEACH, NEWPORT, CA 91600

Date Post
201X Explanation Ref. Debit Credit Dr. Balance
Jan. 1 Inv. #5001 2/10, n/30 GJ4 3 0 0 0 00 3 0 0 0 00
20 #5001 (less disc.) GJ4 3 0 0 0 00 - 0 -

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3.
SANCHEZ COMPUTER CENTER
SCHEDULE OF ACCOUNTS RECEIVABLE
1/31/201X

Taylor Golf $3,200

Vita Needle 6,800
Accu Pac 900
Total $10,900

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