9A-3. Mark Peaker owns Peaker's Sneaker Shop (In your working papers balances as of May 1 are provided for the accounts receivable and general ledger accounts.) The following transaction occurred in May: 19XX rstoresh erepts Joumal May Mark Peaker invested an additional $12,000 in the sneaker Sold $700 of merchandise on account to B. Dale, sales ticket no.60, 3 Soles Jounal terms 1/10, n/30. Sold $500 of merchandise on account to Ron Lester, sales tickcet no.61, 4 Sales Jauma terms 1/10, n/30. Sold $200 of merchandise on account to Jim Zon, sales ticket no.62, 9 Sales Jounal terms 1/10, n/30. 10 Received cash payment from B. Dale in payment of May 3 transaction, ash reveivel Juma sales ticket no. 60, less discount. Sold $3,000 of merchandise on account to Pam Pry, sales ticket no.63, 20 Soles Journal terms 1/10, n/30. Received cash payment from Ron Lester in payment of May 4 transaction, 22 Cash reievedJauma Cosh eceived Jauna sales ticekt no. 61. Collected Cash sales, $3,000. 23 Issued credit memorandum no.1 to Pam Pry for $2,000 of merchandise 24 Jeneral Jounal returned from May 20 sales on account Received cash from Pam Pry in payment of May 20, sales ticket no.63. 26 Don't forget about the credit memo and discount.) Cash receio Journa Collected cash sales, $7,000 Sold sneaker rack equipment for $300 cash. (Beware.) OReh eceved TCuma Caeh rereived Jaumal 28 30 Sold merchandise priced at $4,000, on account to Ron Lester, sales ticket 30 Sales Journal no. 64, terms 1/10, n/30. Jereal Tournal Issued credit memorandum no. 2 to Ron Lester for $700 of Merchandise 31 returned from May 30 transaction, sales ticket no. 64. Required: 1. Journalized the transactions. Record to the accounts receivable subsidiary ledger and post to general ledger as needed. 2. 3. Prepare a schedule of accounts receivable. st PROBLEM 9A-30R PROBLEM 9B-3 PEAKER'S SNEAKER SHOP SALES JOURNAL Sales Accounts Rec. - Dr. PR. Sales- Cr Terms Ticket Customer's Name Date No. unou seweN juno00 Sundry unoosi ( dOHSRO NS S SENd PROBLEM 9A-3 OR PROBLEM 9B-3 (CONTINUED) PROBLEM 9A-3 OR PROBLEM 9B-3 (CONTINUED) PEAKER'S SNEAKER SHOP GENERAL JOURNAL Cr. Dr. Post Ref. Account Titles and Description Date ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER B. DALE NAME 1822 RIVER RD., MEMPHIS, TN 09111 Post Ref. ADDRESS Dr. Balance Credit Debit Explanation Date 400 1 Balance May PROBLEM 9A-3 OR PROBLEM 9B-3 (CONTINUED) ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER CA NAME ADDRESS RON LESTER 18 MASS. AVE, SAN DIEG0, CA 019998 Post Dr. Balance Credit Debit Ref. Date Explanation 800 May 1 Balance NAME ADDRESS PAM PRY 918 MOORE DR, HOMEWOOD, IL 60430 Post Date Explanation Credit Dr. Balance Debit Ref. 1 Balance May 600 NAME ADDRESS JIM ZON 2 CHESTNUT ST., SWAMPSCOTT, MA 01970 Date Post Ref. Explanation Debit Credit Dr. Balance May 1 Balance 400 PROBLEM o ROBLEM 9A-3 OR PROBLEM 9B-3 (CONTINUED) PEAKER'S SNEAK SHOP PARTIAL GENERAL LEDGER CASH Account No. 10 Date Explanation Balance PR Debit Credit Debit Credt MAY 1 Balance 15,500 ACCOUNTS RECEIVABLE Account No. 12 Balance Cred Date Explanation PR Debit Credit Debit MAY 1 Balance 2.200 Account No, 14 SNEAKER RACK EQUIPMENT Balance Credit Debit Credit PR Debit Explanation Date 1,000 MAY 1 Balance Account No. 30 MARK PEAKER, CAPITAL Balance Debit Credit Debit Credit PR Explanation Date 40,000 MAY 1 Balance PROBLEM 9A-3 OR PR OBL EM 9B-3 (CONTINUED) Account No, 40 SALES Balance Debit Credit Credit Debit Date PR Explanation 2,200 MAY 1 Balance SALES DISCOUNT Account No. 42 Balance Date Explanation Debit Credit PR Credit Debit SALES RETURNS & ALLOWANCES Account No, 44 Balance Explanation Date PR Debit Credit Credit Debit PROBLEM 9A-3 (CONCLUDED) PEAKER'S SNEAKER SHOP SCHEDULE OF ACCOUNTS RECEIVABLE MAY 31, 200X
