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First & Last Photo is a reference of what it has to look like. Requirements 2 and 4 Accounts Receivable-Balakrishnan Co0. Accounts Receivable-Berkner Co. Accounts
First & Last Photo is a reference of what it has to look like.
Requirements 2 and 4 Accounts Receivable-Balakrishnan Co0. Accounts Receivable-Berkner Co. Accounts Receivable-K. D. King Accounts Receivable-M. O. Small \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Post. Ref. & Debit & \multirow{2}{*}{ Credit } & \multicolumn{2}{|c|}{ Balance } \\ \hline & & & & Debit & Credit \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} 2. Open four-column accounts in the subsidiary ledgers with beginning balances as of May 1 , if any. Accounts receivable subsidiary ledgerBalakrishnan Co., $1,700; Berkner C0., $0; M. O. Small, \$0; and K. D. King, \$0. Accounts payable subsidiary ledger-Henderson Co., $0; Magyar, Inc., \$0; Silva Distributing, \$0; and White Co., $900. (pge 6), as appropriate. 4. Post daily to the accounts receivable subsidiary ledger and to the accounts payable subsidiary ledger. 5. Total each column of the special joumals. Show that total debits equal Tulsa Computer Security uses the perpetual inventory system and makes all credit sales on terms of n/30. Tulsa completed the following transactions during May: May 2 Issued invoice no. 913 for sale on account to K. D. King, $2,200 (cost, $1,500). 3 Purchased merchandise inventory on credit terms of 3/10,n/60 from Henderson Co., $2,900. 5 Sold merchandise inventory for cash, $1,800 (cost, $350 ). 5 Issued check no. 532 to purchase furniture for cash, $2,950. 8 Collected interest revenue of $1,350. 9 Issued invoice no. 914 for sale on account to Berkner Co., $5,700 (cost, $2,000). 10 Purchased merchandise inventory for cash, $1,000, issuing check no. 533. 12 Received cash from K. D. King in full settlement of her account receivable from the sale on May 2. 13 Issued check no. 534 to pay Henderson Co, the net amount owed from May 3. Round to the nearest dollar. 13 Purchased office supplies on account from Magyar, Inc., \$500. Terms were n/EOM. 15 Sold merchandise inventory on account to M. O. Small, issuing invoice no. 915 for $850 (cost, $400). 18 Issued invoice no. 916 for credit sale to K. D. King, $300 (cost, \$150). 19 Received cash from Berkner Co, in full settlement of its account receivable from May 9. 20 Purchased merchandise inventory on credit terms of n/30 from Silva Distributing, $2,100. 22 Purchased furniture on credit terms of 3/10,n/60 from Henderson Co., $500. 22 Issued check no. 535 to pay for insurance coverage, debiting Prepaid Insurance for $1,400. 24 Sold office supplies to an employee for cash of $125, which was Tulsa's cost. 25 Received bill and issued check no. 536 to pay utilities, $550. 28 Purchased merchandise inventory on credit terms of 2/10,n/30 from Magyar, Inc., $575. 29 Returned damaged merchandise inventory to Magyar, Inc., issuing a debit memo for $575. 29 Sold merchandise inventory on account to Berkner Co., issuing invoice no. 917 for $2,400 (cost, $1,400). 30 Issued check no, 537 to pay Magyar, Inc. in full for May 13 purchase. 31 Received cash in full from K. D. King on credit sale of May 18. 31 Issued check no. 538 to pay monthly salaries of $2,250. Accounts Payable-Hondorson Co. \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Posi Roli & Dobit & Credit & Dabit & Balance \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} Accounts Payable-Magyar, Inc. \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Post. Ref & Debit & Credit & Debit & Balance \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} Accounts Payable-Silva Distributing \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Post. Ref. & \multicolumn{2}{|c|}{ Debit } & Credit & \multicolumn{2}{|c|}{ Balance } \\ \cline { 4 - 6 } & & & Debit & Credit \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} Accounts Payable-White CoStep by Step Solution
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