g Schedules of accounts Now that all adjusting entries have been posted to the general ledger, you are asked to prepare the schedule of accounts receivable and the schedule of accounts payable as at June 30, 2020. The purpose of preparing the schedule of accounts receivable is to verify that the sum of the customer balances recorded in the accounts receivable subsidiary ledger is equal to the balance of the Accounts Receivable control account in the general ledger. Similarly, the purpose of the schedule of accounts payable is to conrm that the sum of the supplier balances recorded in the accounts payable subsidiary ledger is equal to the balance of the Accounts Payable control account in the general ledger. Instructions for schedules of accounts Using the subsidiag ledgersl? and the general ledgerl: 1) Create a schedule of accounts receivable as at the end of June. 2) Create a schedule of accounts payable as at the end of June. Remember to enter all answers to the nearest whole dollar. Back-On-Track functionality or in a popup information page) have been reset, if necessary, to the correct answers. Your particular E! Please note that any answers from previous pages carried through onto this page (either on the page answers from previous pages are no longer shown. SUBSIDIARY LEDGERS POST ADJUSTING Account: ARC - Attic Books Account No. 110-1 Date Description Ref. Debit Credit Balance May Balance 3,326 DR Jun 11 Repayment CR. 3,326 Jun 30 Adjusted Balance Account: ARC - Bovine & Hobbitson Account No. 110-2 Date Description Ref. Debit Credit Balance May 31 Balance 1,217 DR Jun 30 Adjusted Balance 1,217 DR Account: ARC - Outlines Account No. 110-3 Date Description Ref. Debit Credit Balance May 31 Balance 2,886 DR Jun 3 Credit sale SJ 5,075 7,961 DR Jun 9 Sales return GJ 5,204 2,757 DR Jun 20 Repayment CR 2,757 Jun 30 Adjusted Balance Account: ARC - Cliff's Notes Account No. 110-4 Date Description Ref. Debit Credit Balance May 31 Balance 3,027 DR Jun 30 Repayment CR 3,027 Jun 30 Adjusted Balance Account: ARC - Congo.com Account No. 110-5 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 15 Credit sale SJ 4,060 4,060 DR Jun 30 Adjusted Balance 4,060 DR Account: ARC - Gimmicks Account No. 110-6 Date Description Ref. Debit Credit Balance May 31 Balance Jun 13 Credit sale SJ 1,440 1,440 DR Jun 19 Repayment CRJ 1,000 440 DR Jun 24 Credit sale SJ 6,090 6,530 DR Jun 30 Not-Sufficient-Funds (NSF) check GJ 1,000 7,530 DR Jun 30 Adjusted Balance 7,530 DRAccount: APC - Noir Novels Account No. 210-1 Date Description Ref. Debit Credit Balance May 31 Balance 1,644 CR Jun 3 Credit purchase PJ 2,000 3,644 CR Jun 28 Repayment CP 3,644 Jur 30 Adjusted Balance 0 Account: APC - Albatross Account No. 210-2 Date Description Ref. Debit Credit Balance May 31 Balance 1,805 CR Jun Repayment CPJ 1,805 0 Jun 30 Adjusted Balance Account: APC - Stompson Account No. 210-3 Date Description Ref. Debit Credit Balance May 31 Balance 3,261 CR Jun 4 Credit purchase PJ 2,400 5,661 CR Jun 18 Purchase return GJ 1,434 4,227 CR Jun 26 Repayment CPJ 4,227 Jun 30 Adjusted Balance 0 Account: APC - Booked Inn Account No. 210-4 Date Description Ref. Debit Credit Balance May 31 Balance 2,844 CR Jun 4 Repayment CPJ 2,844 0 Jun |Credit purchase PJ 2,030 2,030 CR Jun 30 Adjusted Balance 2,030 CR Account: APC - Books R Us Account No. 210-5 Date Description Ref. Debit Credit Balance May 31 Balance 1,919 CR Jun 13 Repayment CPJ 1,919 0 Jun 30 Adjusted Balance Account: APC - Peachson Account No. 210-6 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Adjusted Balance 0GENERAL LEDGER POST ADJUSTING Account: Cash Account No. 100 Date Description Ref. Debit Credit Balance May 31 Balance 27,359 DR 124,845 DR Jun 30 Total from cash receipts journal CRJ 97,486 Jun 30 Total from cash payments journal CPJ 34.483 90.362 DR Jun 30 Interest received from the bank GJ 231 90,593 DR Jun 30 Not-Sufficient-Funds (NSF) check GJ 1,000 89,593 DR Jun 30 Bank service charge GJ 89,586 DR Jun 30 Adjusted Balance 89,586 DR Account: Short-term Investments Account No. 102 Date Description Ref. Debit Credit Balance May 31 Balance 20,000 DR Jun 30 Adjusted Balance 20,000 DR Account: ARC - Accounts Receivable Control Account No. 110 Date Description Ref. Debit Credit Balance May 1 Balance 10,456 DR Jun 9 Sales return from Outlines GJ 5,204 5,252 DR Jun 30 Total from sales journal SJ 16,665 21,917 DR Jun 30 Total from cash receipts journal CRJ 10,110 11,807 DR Jun 30 Not-Sufficient-Funds (NSF) check GJ 1,000 12,807 DR Jun |Adjusted Balance 12,807 DR Account: Interest Receivable Account No. 112 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Accrued interest revenue GJ 100 100 DR Jun 30 Adjusted Balance 100 DR Account: Merchandise Inventory Account No. 120 Date Description Ref. Debit Credit Balance May 31 Balance 75,784 DR Jun 30 Adjusted Balance 75,784 DR Account: Office Supplies Account No. 130 Date Description Ref. Debit Credit Balance May 31 Balance ,312 DR Jun 30 Supplies used GJ 3,656 3,656 DR Jun 30 |Adjusted Balance 3,656 DRAccount: Prepaid Rent Account No. 140 Date Description Ref. Debit Credit Balance May 31 Balance 6,000 DR Jun 30 Rent expired GJ 3,000 3,000 DR Jun 30 Adjusted Balance 3,000 DR Account: Prepaid Advertising Account No. 141 Date Description Ref. Debit Credit Balance May 31 Balance 12,000 DR Jun 30 Benefits consumed GJ 4,000 8,000 DR Jur 30 Adjusted Balance 8,000 DR Account: Prepaid Insurance Account No. 142 Date Description Ref. Debit Credit Balance May 31 Balance 3,000 DR Jun 30 Insurance expired GJ 600 2,400 DR Jur 30 Adjusted Balance 2,400 DR Account: Office Furniture Account No. 150 Date Description Ref. Debit Credit Balance May Balance 3,000 DR Jur 30 Adjusted Balance 8,000 DR Account: Accum Depn: Office Furniture Account No. 151 Date Description Ref. Debit Credit Balance May 31 Balance 1,653 CR Jun 30 Depreciation - one month GJ 97 1,750 CR Jur 30 Adjusted Balance 1,750 CR Account: Office Equipment Account No. 160 Date Description Ref. Debit Credit Balance May 31 Balance 48,000 DR Jun 30 Adjusted Balance 48,000 DR Account: Accum Depn: Office Equipment Account No. 161 Date Description Ref. Debit Credit Balance May 31 Balance 19,907 CR Jun 30 Depreciation - one month GJ 398 20,305 CR Jun 30 Adjusted Balance 20,305 CRAccount: APC - Accounts Payable Control Account No. 210 Date Description Ref. Debit Credit Balance May 1 Balance 11,473 C Jun 18 Purchase return to Stompson GJ 1.434 10,039 C Jun 30 Total from purchases journal PJ 6,430 16,469 CF Jun 30 Total from cash payments journal CPJ 14,439 2,030 CF Jur 30 Adjusted Balance 2,030 C Account: Wages Payable Account No. 220 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Accrued wages expense GJ 1,440 1,440 CR Jun 30 Adjusted Balance 1,440 CR Account: Electricity Payable Account No. 221 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Accrued electricity expense GJ 996 996 CR Jun 30 Adjusted Balance 996 CR Account: Water Payable Account No. 222 Date Description Ref. Debit Credit Balance May 31 Balance Jun 30 Accrued water expense GJ 208 208 CR Jun 30 Adjusted Balance 208 CR Account: Interest Payable Account No. 225 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Accrued interest expense GJ 215 215 CR Jun 30 Adjusted Balance 215 CR Account: Bank Loan Payable Account No. 250 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 1 Loan from MRMC Bank CRJ 43,000 43,000 CR Jun 30 Adjusted Balance 43,000 CR Account: Common Stock Account No. 300 Date Description Ref. Debit Credit Balance May 31 Balance 85,000 CR Jun 30 Adjusted Balance 85,000 CRAccount: Retained Earnings Account No. 301 Date Description Ref. Debit Credit Balance May 31 Balance 99,878 CR Jur 30 Adjusted Balance 99,878 CR Account: Income Summary Account No. 310 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jur 30 Adjusted Balance Account: Sales Revenue Account No. 400 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jur 30 Total from sales journal SJ 16.665 16,665 CR Jun 30 Total from cash receipts journal CRJ 44,709 61,374 CR Jur 30 Adjusted Balance 61,374 CR Account: Sales Returns and Allowances Account No. 401 Date Description Ref. Debit Credit Balance May 31 Balance Jun 9 Sales return from Outlines 3J 5,204 5,204 DR Jun 30 Adjusted Balance 5,204 DR Account: Sales Discounts Account No. 402 Date Description Ref. Debit Credit Balance May 31 Balance 0 lur 30 Total from cash receipts journal CRJ 333 333 DR Jun 30 Adjusted Balance 333 DR Account: Interest Revenue Account No. 403 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Interest received from the bank GJ 231 231 CR Jun 30 Accrued interest revenue GJ 100 331 CR Jur |Adjusted Balance 331 CR Account: Purchases Account No. 500 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Total from purchases journal PJ 6,430 6,430 DR Jun 30 Total from cash payments journal CP. 3,750 10,180 DR Jun 30 Adjusted Balance 10,180 DRAccount: Purchase Returns and Allowances Account No. 501 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 18 Purchase return to Stompson GJ 1,434 1,434 CR Jun 30 Adjusted Balance 1,434 CR Account: Purchase Discounts Account No. 502 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun Total from cash payments journal CPJ 75 75 CR Jun 30 Adjusted Balance 75 CR Account: Advertising Expense Account No. 511 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Benefits consumed GJ 4,000 4,000 DR Jun 30 Adjusted Balance 4,000 DR Account: Wages Expense Account No. 516 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 15 Paid staff wages CPJ 5,746 5,746 DR Jun 29 Paid staff wages CPJ 5,323 11,069 DR Jur Accrued wages expense GJ 1,440 12,509 DR Jur 30 Adjusted Balance 12,509 DR Account: Rent Expense Account No. 540 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Rent expired GJ 3,000 3,000 DR Jun 30 Adjusted Balance 3,000 DR Account: Electricity Expense Account No. 541 Date Description Ref. Debit Credit Balance May Balance 0 Jun 30 Accrued electricity expense GJ 996 996 DR Jur 30 Adjusted Balance 996 DR Account: Water Expense Account No. 542 Date Description Ref. Debit Credit Balance May Balance 0 Jun 30 Accrued water expense GJ 208 208 DR Jun 30 Adjusted Balance 208 DRAccount: Insurance Expense Account No. 543 Date Description Ref. Debit Credit Balance May Balance 0 Jun 30 Insurance expired GJ 60 600 DR Jun 30 Adjusted Balance 600 DR Account: Office Supplies Expense Account No. 544 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Supplies used GJ 3,656 3,656 DR Jun 30 Adjusted Balance 3,656 DR Account: Salary Expense Account No. 545 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Paid salary CP. 5,300 5,300 DR Jun 30 Adjusted Balance 5,300 DR Account: Depn Expense: Office Furniture Account No. 560 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Depreciation - one month GJ 97 97 DR Jun 30 Adjusted Balance 97 DR Account: Depn Expense: Office Equipment Account No. 561 Date Description Ref. Debit Credit Balance May 31 Balance Jun 30 Depreciation - one month GJ 398 398 DR Jun 30 Adjusted Balance 398 DR Account: Interest Expense Account No. 571 Date Description Ref. Debit Credit Balance May 31 Balance Jun 30 Accrued interest expense GJ 215 215 DR Jun 30 Adjusted Balance 215 DR Account: Admin. Expense - Bank Charges Account No. 572 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Bank service charge GJ 7 DR Jun 30 Adjusted Balance 7 DR(Q=900.schedulesOfAccounts Cover 2 Cover Schedule of Accounts Receivable June 30, 2020 Account No. Name Balance ($) 110-1 ARC - Attic Books 110-2 ARC - Bovine & Hobbitson 110-3 ARC - Outlines 110-4 ARC - Cliff's Notes 110-5 ARC - Congo.com 110-6 ARC - Gimmicks Total Cover 2 Cover Schedule of Accounts Payable June 30, 2020 Account No. Name Terms Balance ($) 210-1 APC - Noir Novels 2/10, n/30 210-2 APC - Albatross 1/15, n/30 210-3 APC - Stompson net 30 210-4 APC - Booked Inn 2/10, n/30 210-5 APC - Books R Us net 30 210-6 APC - Peachson net 30 Total