Billy Bob Supply Company uses four special journals: purchases, sales, cash receipts, and cash disbursements, along with a general journal. The following transactions were incurred during August:

Aug. 1 Purchased merchandise from Able Co. for $6,000, terms 2/10, n/30.

3 Received check from Fox Co. (full balance outstanding) for July sale (less the 2% discount).

3 Sent check No.757 for $4,900 to Able Co. in full payment of outstanding balance from the prior month. 4 Sold merchandise on credit to Coe Co. for $5,000, terms 2/10, n/30, Invoice No. 245. Cost of the goods sold is $2,500.

5 Purchased merchandise from Baker Co. for $6,000, terms 1/15, n/30.

8 Purchased office supplies on credit from Echo Co. for $500, terms n/30.

9 Returned merchandise costing $300 to Able Co. from August 1 purchase.

11 Paid Able Co. for the August 1 purchase, (less discount) Check No. 758.

13 Received cash payment from Coe Co. for August 4 sale (less discount).

15 Paid August rent of $1,000, Check No. 759.

15 Sold merchandise on credit to Fox Co. for $5,000, terms 2/10, n/30, Invoice No. 246. Cost of the goods sold is $2,400.

18 Sold merchandise on credit to Coe Co. for $4,000, terms 2/10, n/30, Invoice No. 247. Cost of the goods sold is $2,200.

18 Received $2,400 cash for the $2,000 note receivable from Fox Corp. (included $400 Interest).

19 Sold merchandise on credit to Thomas Co .for $6,000, terms 2/10, n/30, Invoice No. 248. Cost of the goods sold was $3,700.

20 Made cash payment in full to Baker Co. for the August 5 purchase, Check No 760.

20 Sold merchandise on credit to Fox Co. for $4,000, terms 2/10, n/30, Invoice No. 249. Cost of the goods sold was $2,400.

22 Sold merchandise on credit to Thomas Co. for $4,000, terms 2/10, n/30, Invoice No. 250. Cost of the goods sold is $2,200.

25 Received full payment less discount from Fox Co. for Aug.15 sale.

28 Recorded cash sales for the month $7,000. The cost of the goods sold was $3,000.

29 Paid Telephone Bill for August of $800, Check No. 761.

Paid Salaries of $500 each to 3 employees Checks 762, 763, 764.

30 Issued Check # 765 for $5,300 ($5,000 note payable and $300 interest expense)

Record the above transactions in the appropriate special journals below. Post to ledgers and prepare the trial balances.

SUBSIDIARY LEDGERS ACCOUNTS RECEIVABLE

Subsidiary Account Receivable Fox Company
Date		PR	Debit	Credit	Balance
XX	Balance		XX	XX	2,000

Subsidiary Account Receivable - Thomas
Date		PR	Debit	Credit	Balance

Subsidiary Account Receivable. - Coe Company
Date		PR	Debit	Credit	Balance

SUBSIDIARY LEDGERS ACCOUNTS PAYABLE

Subsidiary Account Payable -- Able Company
Date		PR	Debit	Credit	Balance
XX	Balance		XX	XX	5,000

Subsidiary Account Payable - Baker Company
Date	Explantation	PR	Debit	Credit	Balance

Subsidiary Account Payable Echo
Date		PR	Debit	Credit	Balance

Schedule of Accounts Receivable

Schedule of Accounts Payable