Following are the condensed journals of Wilson Bakery Supplies. The journal column headings are incomplete in that they do not indicate whether the columns are debit or credit columns. Assume a periodic inventory system.

Required
1. Prepare T-accounts on notebook paper for the following General Ledger and sub ledger accounts. Separate the accounts of each ledger group as follows:
General Ledger Accounts
Cash
Accounts Receivable
Prepaid Insurance
Store Equipment
Accounts Payable
Notes Payable
Sales
Sales Discounts
Sales Returns and Allowances
Purchases
Purchase Returns and Allowances
Accounts Receivable Sub ledger Accounts
Jack Hertz Trudy Stone Dave Waylon
Accounts Payable Sub ledger Accounts
Grass Corp. McGrew Company Sulter, Inc.
2. Without referring to any of the illustrations in the chapter that show complete column headings for the journals, post the journals to the proper T-accounts. Ignore dates.

Transcribed Image Text:

Sales Journal Purchases Journal Account Amount Account Jack Hertz, Trudy Stone Dave Waylon Total Amount 10,800 9,000 3,400 ....23,200 7,400 Grass Corp. 16,800 Sulter, nc 2,000 McGrew Company. 26,200 Total Sales Returns and Allowances. 600 Accounts Receivable-Jack Hrtz. Customer returned merchandise. 600 Accounts Payable Grass Cor 1,500 Purchase Returns and Allowances.. Returned merchandise. 1,500 Cash Receipts Journal Sales Other Accounts Receivable Sales Discounts Cash Accounts Account 136 Jack Hertz Sales Notes Payable Sales Trudy Stone Store Equipment Totals 6,664 4,500 9,000 1,250 16,464 1,000 38,878 6,800 4,500 9,000 1,250 16,800 336 1,000 10,000 23,600 5,750 472 Cash Disbursements Journal Accounts Payable Other Accounts Purchase Discounts Cash 1,700 8,730 9,114 3,500 23,044 Account 1,700 Prepaid Insurance Sulter, Inc... 9,000 9,300 270 186 rass 3,500 5,200 18,300 456