The following transactions relate to King Metal Products dur¬

ing April of this year. Terms of sale are 2/10, n/30. The company is located in Los Angeles.

Instructions 1. Open the following accounts in the accounts receivable ledger and record the balances as of April 1: B. R. Anders; Buckley Department Store, $352.50;
Goddard Specialty Company, $225.50; Howard Hardware, $822.00. For the accounts having balances, write “Balance” in the Item column and place a check mark in the Post. Ref. column.
2. Open the following accounts in the accounts payable ledger and record the balances as of April 1: Ashford Manufacturing Company; Beale Products Company, $122.46; Bonwell, Inc., $255.54; Chandler and Dunn; Sanger Manufacturing Company. For the accounts having balances, write “Balance”
in the Item column and place a check mark in the Post Ref. column.
3. Record the transactions in the sales, purchases, or general journal, as appropriate.
4. Post the entries to the accounts receivable ledger daily.
5. Post the entries to the accounts payable ledger daily.
6. Post the entries in the general journal immediately after you make each jour¬
nal entry.
7. Post the totals from the special journals at month end.
8. Prepare a schedule of accounts receivable.
9. Prepare a schedule of accounts payable.
10.Compare the totals of the schedules with the balances of the controlling accounts.
Instructions for General Ledger Software 1. Record the transactions in the sales, purchases, or general journals.

a. For efficiency, analyze the transactions, indicate into which journal each transaction goes, and key the entries in three batches—the sales journal, the purchases journal, and the general journal.

b. If the program uses a single-column purchases journal, add the amount of the freight to the amount of purchases.
2. Print the journals.
3. Post the amounts from the sales, purchases, and general journals.
4. Print the general ledger.
5. Print a schedule of accounts receivable and compare the total with the balance of the Accounts Receivable control account.
6. Print a schedule of accounts payable and compare the total with the balance of the Accounts Payable control account.

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Apr. 1 Sold merchandise on account to Howard Hardware, invoice no. 5522, $584.00. 4 Bought merchandise on account from Sanger Manufacturing Com- pany, invoice no. C1142, $528; terms 1/10, n/30; dated April 2; FOB San Diego, freight prepaid and added to the invoice, $33 (total $561). 9 Sold merchandise on account to Buckley Department Store, invoice no. 5523, $994. 11 Bought merchandise on account from Beale Products Company, invoice no. 8990, $1,893.65; terms 2/10, n/30; dated April 11; FOB San Francisco, freight prepaid and added to the invoice, $79 (total $1,972.65).