Each member of the team is to assume responsibility for one of the following tasks:

a. Journalizing in the purchases journal.

b. Journalizing in the cash disbursements journal.

c. Maintaining and verifying the Accounts Payable ledger.

d. Journalizing in the sales journal and the general journal.

e. Journalizing in the cash receipts journal.

f. Maintaining and verifying the Accounts Receivable ledger.

The team should abide by the following procedures in carrying out responsibilities.

Required 1. After tasks a-fare assigned, each team member is to quickly read the list of transactions in Problem 7-6A, identifying with initials the journal in which each transaction is to be recorded. Upon com¬ pletion, the team leader is to read transaction dates, and the appropriate team member is to vo¬ calize responsibility. Any disagreement between teammates must be resolved.

2. Journalize and continually update subsidiary ledgers. Journal recorders should alert teammates as¬ signed to subsidiary ledgers when an entry must be posted to their subsidiary.

3. Team members responsible for tasks

a. b.

d, and e are to summarize and prove journals; members responsible for tasks c and/are to prepare both payables and receivables schedules.

4. The team leader is to take charge of the general ledger, rotating team members to obtain amounts to be posted. The person responsible for a journal must complete posting references in that jour¬ nal. Other team members should verify the accuracy of account balance computations. To avoid any abnormal account balances, post in the following order: P, S, G, R, D. {Note: Posting any nec¬ essary individual general ledger amounts are also done at this time.)

5. The team leader is to read out general ledger account balances while another team member fills in the trial balance form. Concurrently, one member should keep a running balance of debit ac¬ count balance totals and another credit account balance totals. Verify the final total of the trial bal¬ ance and the schedules. If necessary, the team must resolve any errors. Turn in the trial balance and schedules to the instructor.