$2$

The cash payments of Royal Family Jewels, a retail business, for June and the general ledger accounts used to record these transactions appear below.

GENERAL LEDGER ACCOUNTS

$3\mathrm{.}33$

points

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References

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$\backslash$table$[[101,$Cash,$$42,240,$Debit$],[105,$Petty cash fund,,$],[129,$Supplies,$1,040$ Debit,$],[201,$Notes payable,$3,000$ Credit,$],[205,$Accounts payable,$18,680,$Credit$],[231,$Sales tax payable,$4,000$ Credit,$]]$

$302$ Yusef Saleem, Drawing

$451$ Sales returns and allowances

$504$ Purchases discounts

$611$ Delivery expense

$620$ Rent expense

$623$ Salaries expense

$626$ Telephone expense

$634$ Interest expense

$635$ Miscellaneous expense

DATE TRANSACTIONS $($for year $20$X$1)$

June $1$ Issued Check $4121$ for $$2,300$ to pay the monthly rent.

June $2$ Issued Check $4122$ for $$4,000$ to remit the state sales tax.

June $3$ Issued Check $4123$ for $$2,760$ to Keeping Time Watch Company, a creditor, in payment of Invoice $6808,$ dated May $5.$

June $4$ Issued Check $4124$ for $$200$ to establish a petty cash fund. $($After journalizing this transaction, be sure to enter it on the first line of the petty cash analysis sheet.$)$

June $5$ Paid $$28$ from the petty cash fund for office supplies, Petty Cash Voucher $1.$

June $7$ Issued Check $4125$ for $$3,120$ to Belmonte Corporation in payment of a $$3,000$ promissory note and interest of $$120.$

June $8$ Paid $$18$ from the petty cash fund for postage stamps, Petty Cash Voucher $2.$

June $10$ Issued Check $4126$ for $$592$ to a customer as a cash refund for a defective watch that was returned; the original sale was made for cash and was not subject to sales tax.

June $12$ Issued Check $4127$ for $$274$ to pay the telephone bill.

June $14$ Issued Check $4128$ for $$5,733$ to Worldwide Jewelry Company, a creditor, in payment of Invoice $8629,$ dated May $6($ $$5,850),$ less a cash discount $($ $$117).$

June $15$ Paid $$18$ from the petty cash fund for delivery service, Petty Cash Voucher $3.$

June $17$ Issued Check $4129$ for $$840$ to purchase store supplies.

June $20$ Issued Check $4130$ for $$3,332$ to Nelsons Jewelry and Accessories, a creditor, in payment of Invoice $1513,$ dated June $12($$$3,400),$ less a cash discount $($ $$68).$

June $22$ Paid $$22$ from the petty cash fund for a personal withdrawal by Yusuf Saleem, the owner, Petty Cash Voucher $4.$

June $25$ Paid $$28$ from the petty cash fund to have the store windows washed and repaired, Petty Cash Voucher $5.$

June $27$ Issued Check $4131$ for $$3,630$ to Modern Creations, a creditor, in payment of Invoice $667,$ dated May $30.$

June $30$ Paid $$22$ from the petty cash fund for delivery service, Petty Cash Voucher $6.$

June $30$ Issued Check $4132$ for $$7,625$ to pay the monthly salaries.

June $30$ Issued Check $4133$ for $$4,800$ to Yusuf Saleem, the owner, as a withdrawal for personal use.

June $30$ Issued Check $4134$ for $$136$ to replenish the petty cash fund. $($Foot the columns of the petty cash analysis sheet in order to determine the accounts that should be debited and the amounts involved.$)$

Required:

$1$ Open the ledger accounts and enter the balances as of june $1$

$2$ Record all Payments by check in a cash payments journal

$3$ Record all payments from the petty cash fund on a petty cash analysis sheet

$4$ post the individuals enteries from the other accounts debit section of the cash payments journal to the proper general ledger accounts

$5$ total and prove the petty cash analysis sheet as of june $30$ Record the replenishment of the fund and final balance on the sheet

$6$ total and prove the cash payments journal as of june $30$

$7$ post the column totals from the cash payments journal to the proper general ledger accounts