CHART OF ACCOUNTS

Essex Company

General Ledger

	ASSETS
110	Cash
121	Accounts Receivable-Parsley Co.
122	Accounts Receivable-Tabor Co.
125	Notes Receivable
130	Merchandise Inventory
131	Estimated Returns Inventory
140	Office Supplies
141	Store Supplies
142	Prepaid Insurance
180	Land
192	Store Equipment
193	Accumulated Depreciation-Store Equipment
194	Office Equipment
195	Accumulated Depreciation-Office Equipment

	LIABILITIES
211	Accounts Payable-Hamling Co.
212	Accounts Payable-Kester Co.
216	Salaries Payable
218	Sales Tax Payable
219	Customer Refunds Payable
221	Notes Payable

	EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends
313	Income Summary

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Merchandise Sold
521	Delivery Expense
522	Advertising Expense
524	Depreciation Expense-Store Equipment
525	Depreciation Expense-Office Equipment
526	Salaries Expense
531	Rent Expense
533	Insurance Expense
534	Store Supplies Expense
535	Office Supplies Expense
536	Credit Card Expense
539	Miscellaneous Expense
710	Interest Expense

The following were selected from among the transactions completed by Essex Company during July of the current year: 3 Purchased merchandise on account from Hamling Co., list price $72,000, trade discount July 15%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,450 added to the invoice 5 Purchased merchandise on account from Kester Co., $33,450, terms FOB destination, 2/10, n/30. 6 Sold merchandise on account to Parsley Co., $36,000, terms n/15. The cost of the merchandise sold was $25,000 7 Returned $6,850 of merchandise purchased on July 5 from Kester Co. 13 Paid Hamling Co. on account for purchase of July 3 15 Paid Kester Co. on account for purchase of July 5, less return of July 7