Jan.3 Sell merchandise on account to M. Knast $5,100, invoice no. 825, and to C. Ryder $1,900, invoice no. 826. 5 Purchase merchandise from R. Drifter $5,000 and N. Sova $2,200, terms n/30. 7 Receive checks from V. Arnold $4,000 and I. Tan $2,000 after discount period has lapsed. 8 Pay freight on merchandise purchased $235. 9 Send checks to K. Xerxes for $9,000 less 2% cash discount, and to T. Caper for $11,000 less 1% cash discount. 9 Issue credit of $300 to C. Ryder for merchandise returned. 10 Summary daily cash sales total $15,500. 11 Sell merchandise on account to D. Gallagher $1,600, invoice no. 827, and to V. Arnold $900, invoice no. 828. 12 Pay rent of $1,000 for January. 13 Receive payment in full from M. Knast and C. Ryder less cash discounts. 15 Withdrawal of $800 cash by J. Sandy for personal use. 15 Post all entries to the subsidiary ledgers. 16 Purchase merchandise from T. Caper $18,000, terms 1/10, n/30; K. Xerxes $14,200, terms 2/10, n/30; and R. Drifter $1,500, terms n/30. 17 Pay $400 cash for office supplies. 18 Return $200 of merchandise to K. Xerxes and receive credit. 20 Summary daily cash sales total $20,100. 21 Issue $15,000 note, maturing in 90 days, to M. Griffen in payment of balance due. 21 Receive payment in full from V. Arnold less cash discount. 22 Sell merchandise on account to M. Knast $2,700, invoice no. 829, and to D. Gallagher $1,300, invoice no. 830. 22 Post all entries to the subsidiary ledgers. 23 Send checks to T. Caper and K. Xerxes in full payment less cash discounts. 25 Sell merchandise on account to I. Tan $3,500, invoice no. 831, and to C. Ryder $6,100, invoice no. 832. 27 Purchase merchandise from T. Caper $14,500, terms 1/10, n/30; N. Sova $1,200, terms n/30; and R. Drifter $5,400, terms n/30. 27 Post all entries to the subsidiary ledgers. 28 Pay $275 cash for office supplies. 31 Summary daily cash sales total $21,300. 31 Pay salaries and wages of $8,100.

Which ones go in the cash receipts journal? Which goes in the cash payment journal? Finally, which goes in the sales-purchase journal? general ledger?

Name Section Date Aaron Martin ACC 121-1N1 11/2/2017 Sun & Surf Co. (a) Sales Journal S1 Date 3-Jan 3-Jan 11-Jan 11-Jan 22-Jan 22-Jan 25-Jan M. C. D. V. M. D. I. 25-Jan C. Account Debited Knast Ryder Gallagher Arnold Knast Gallagher Tan Ryder Invoice No. 825 826 827 828 829 830 831 Ref. Accounts Receiv. Dr. Sales Cr. $5,100 $1,900 $1,600 $900 $2,700 $1,300 $3,500 COGS Dr. Inventory Cr. $2,295 $855 $720 $405 $1,215 $585 $1,575 $6,100 ### $2,745 $10,395 832 Purchases Journal P1 Date 5-Jan 5-Jan 16-Jan 16-Jan 16-Jan 27-Jan 27-Jan 27-Jan Total: R. N. T. K. R. T. N. R. Account Credited Drifter Sova Caper Xerxes Drifter Caper Sova Drifter Terms n/ n/ 1/ 2/ n/ 1/ n/ n/ page 1 of 15 Ref. 30 30 10 10 30 10 30 30 Inventory (Dr.) Acc. Pay (Cr.) $5,000 $2,200 $18,000 $14,200 $1,500 $14,500 $1,200 $5,400 62,000 Name Section Date Aaron Martin ACC 121-1N1 11/2/2017 Sun & Surf Co. (a) (Continued) Cash Receipts Journal Date 7-Jan 7-Jan 10-Jan 13-Jan 13-Jan 20-Jan 21-Jan 31-Jan Total: Account Credited V. Arnold I. Tan Sales (Summary) M. Knast C. Ryder Sales (Summary) V. Arnold Sales Ref. Cash Dr. $4,000 $2,000 $15,500 $4,998 $1,862 $20,100 $882 $21,300 $70,642 Sales Discounts Dr. $102 $38 $18 $158 page 2 of 15 Accounts Receivable Sales (Revenue) Cr. Cr. $4,000 $2,000 $15,500 $5,100 $1,900 $20,100 $900 $21,300 $13,900 $56,900 Other Accounts Cr. CR1 COGS Dr. Inventory Cr. $8,525 $11,055 $11,715 $31,295 n & Surf Co. ## ## ## # page 2 of 15 Name Section Date Aaron Martin ACC 121-1N1 11/14/2017 Sun & Surf Co. (a) (Continued) Cash Payments Journal CP1 Date 8-Jan 9-Jan 9-Jan 12-Jan 15-Jan 17-Jan 23-Jan 23-Jan 28-Jan 31-Jan Account Debited Freight K. Xerxes T. Caper Rent J. Sandy Office Supplies T. Caper K. Xerxes Office Supplies Salaries and Wages Totals: Ref. Other Accounts Dr. $235 Accounts Payable Dr. Office Supplies Dr. $9,000 $11,000 Inventory Cr. $180 $110 $1,000 $800 $400 $18,000 $14,200 $180 $284 $275 $8,100 $10,135 $52,200 page 3 of 15 $675 $754 Cash Cr. $235 $8,820 $10,890 $1,000 $800 $400 $17,820 $13,916 $275 $8,100 $62,256 Name Section Date Aaron Martin ACC 121-1N1 ### Sun & Surf Co. (a) (Continued) and (e) General Journal Date 9-Jan 18-Jan Account Titles Sales Return Accounts Receivable - C. Ryder (To Record Sales Returns) G1 Ref Debit $300 $300 Accounts Payable - K. Xerxes Purchase Returns (To Record Purchase Returns) $200 21-Jan (M. Griffen) Accounts Payable - M. Griffen Notes Payable (To Record Issue of Notes) $15,000 Adjusting Entries 31-Jan Office Supplies Expense Office Supplies Credit $200 $15,000 $900 $900 31-Jan Insurance Expense Prepaid Insurance $2,205 31-Jan Depreciation Expense Accumulated Depreciation-Equipment $1,500 $2,205 31-Jan Interest Expense Interest Payable $1,500 $50 $50 page 4 of 15 page 4 of 15 Sun & Surf Co. page 4 of 15 page 4 of 15 Name Section Date Sun & Surf Co. (e) (Continued) General Journal Date 1 2 3 4 5 6 7 8 Account Titles Closing Entries G1 Ref 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 page 5 of 15 Debit Credit page 5 of 15 un & Surf Co. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 page 5 of 15 page 5 of 15 Name Section Date Aaron Martin ACC 121-1N1 11/14/17 Sun & Surf Co. (b) and (e) General Ledger Cash Date Jan. 1 No. 101 Explanation Balance Ref. Debit Credit $ $70,642 $62,256 Accounts Receivable Date Jan. 1 Explanation Balance No. 112 Ref. Debit Credit $ $ 21,000 $13,900 $300 Notes Receivable Date Jan. 1 Explanation Balance Ref. Debit Credit Balance $ 39,000 No. 120 Explanation Balance Ref. Debit Credit $12,705 $62,000 $31,295 8-Jan $235 $754 $200 Balance $ 17,795 $5,090 $67,090 $35,795 $36,030 $35,276 $35,076 Office Supplies Date Jan. 1 No. 125 Explanation Balance Ref. Debit Credit $ $675 31-Jan $975 Prepaid Insurance Date Jan. 1 Balance 13,000 $34,000 $20,100 $19,800 No. 115 Inventory Date Jan. 1 Balance 37,150 $107,792 $45,536 Balance 1,200 $1,875 $900 No. 130 Explanation Balance Ref. Debit Credit $ $2,205 page 6 of 15 Balance 2,205 $0 page 6 of 15 Name Section Date Sun & Surf Co. (b) and (e) (Continued) Equipment Date Jan. 1 No. 157 Explanation Balance Ref. Debit Credit Balance $ 6,450 Accumulated Depreciation - Equipment Date Jan. 1 31-Jan Explanation Balance No. 158 Ref. Debit Credit Balance $ 1,500 $0 $1,500 Notes Payable Date 21-Jan No. 200 Explanation Ref. Debit Credit $15,000 Accounts Payable Date Jan. 1 Balance $15,000 No. 201 Explanation Balance Ref. Debit Credit $62,000 $52,200 $200 $15,000 18-Jan 21-Jan Balance $ 35,000 $97,000 $44,800 $44,600 $29,600 Interest Payable Date 31-Jan Explanation Ref. Debit Credit $50 J. Sandy, Capital Date Jan. 1 No. 301 Explanation Balance Ref. Debit Credit J. Sandy, Drawing Date 15-Jan Balance $50 Balance $ 80,300 No. 306 Explanation Ref. Debit $800 page 7 of 15 Credit Balance $800 Name Section Date Aaron Martin ACC 121-1N1 ### Sun & Surf Co. (b) and (e) (Continued) Income Summary Date No. 350 Explanation Ref. Debit Credit Sales Date No. 401 Explanation Ref. Debit Credit $21,000 $56,900 Sales Returns and Allowances Date 9-Jan Explanation Ref. Debit $300 Credit Explanation Ref. Debit $171 Credit Explanation Ref. Debit $12,705 $31,295 Credit Explanation Explanation Balance $12,705 $44,000 No. 627 Ref. Debit $8,100 Credit Depreciation Expense Date 1-Jan 31-Jan Balance $171 No. 505 Salaries and Wages Expense Date 31-Jan Balance $300 No. 414 Cost of Goods Sold Date Balance $21,000 $77,900 No. 412 Sales Discounts Date Balance Balance $8,100 No. 711 Ref. Adjusting Debit Credit $1,500 page 8 of 15 Balance $1,500 $ - page 8 of 15 Name Section Date Aaron Martin ACC 121-1N1 ### Sun & Surf Co. (b) and (e) (Continued) Interest Expense Date 31-Jan No. 718 Explanation Ref. Debit Credit $ 50 Insurance Expense Date 31-Jan Explanation Ref. Debit $2,205 Credit 50 Explanation Balance $2,205 No. 728 Ref. Debit $900 Credit Rent Expense Date 12-Jan $ No. 722 Office Supplies Expense Date 31-Jan Balance Balance $900 No. 729 Explanation Ref. Debit $1,000 page 9 of 15 Credit Balance $1,000 Name Section Date Aaron Martin ACC 121-1N1 ### Sun & Surf Co. (b) (Continued) Accounts Receivable Subsidiary Ledger D. Gallagher Date Jan. 1 11-Jan 22-Jan Explanation Balance Sales Merchandise Sales Merchandise Ref. Debit Credit Balance $ 1,500 $ 3,100 $4,400 Credit Balance $ 1,900 $ 1,600 $ $6,100 $1,600 $1,300 C. Ryder Date Explanation 3-Jan Sales Merchandise 9-Jan Sales Return/ Inventory 13-Jan Cash Receipt/ A. Receivable 25-Jan Sales Merchandise Ref. Debit $1,900 $ 300 $1,600 $6,100 I. Tan Date Explanation Jan. 1 Balance 7-Jan Cash Receipt/ A. Receivable 25-Jan Sales Merchandise Ref. Debit Credit $ $ 2,000 3,500 $ $ $ Balance 7,500 5,500 9,000 $ $ $ $ Balance 4,000 900 - V. Arnold Date Explanation Jan. 1 Balance 7-Jan Cash Receipt/ A. Receivable 11-Jan Sales Merchandise 21-Jan Cash Receipt/ A. Receivable Ref. Debit $ Credit $ 4,000 $ 900 900 M. Knast Date Explanation 3-Jan Sales Merchandise 13-Jan Cash Receipt/ A. Receivable 22-Jan Sales Merchandise Ref. $ Debit 5,100 $ 2,700 Credit $ page 10 of 15 5,100 Balance $ 5,100 $ $ 2,700 page 10 of 15 Name Section Date Aaron Martin ACC 121-1N1 ### Sun & Surf Co. (b) (Continued) Accounts Payable Subsidiary Ledger N. Sova Date 5-Jan 27-Jan Explanation Purchase/ Inventory Purchase/ Inventory Ref. Explanation Balance Cash Payment Purchase/ Inventory Sales Return Cash Payment Ref. Explanation Balance Notes Payable Ref. Explanation Balance Cash Payment Purchase/ Inventory Cash Payment Purchase/ Inventory Ref. Explanation Purchase/ Inventory Purchase/ Inventory Purchase/ Inventory Ref. Debit $ $ Credit 2,200 1,200 $ $ Balance 2,200 3,400 $ $ $ $ $ Balance 9,000 14,200 14,000 - K. Xerxes Date Jan. 1 9-Jan 16-Jan 18-Jan 23-Jan Debit $ Credit 9,000 $ $ 14,200 $ 14,000 200 M. Griffen Date Jan. 1 21-Jan Debit $ Credit 15,000 Balance $ 15,000 $ - T. Caper Date Jan. 1 9-Jan 16-Jan 23-Jan 27-Jan Debit $ Credit 11,000 $ $ 18,000 18,000 $14,500 $ $ $ $ $ Balance 11,000 18,000 14,500 R. Drifter Date 5-Jan 16-Jan 27-Jan Debit $ $ $ page 11 of 15 Credit 5,000 1,500 5,400 Balance $ 5,000 $ 6,500 $ 11,900 page 11 of 15 Name Section Date Aaron Martin Acc 121-1N1 11/15/2017 Sun & Surf Co. (c) Sun & Surf Company Work Sheet For the Month Ended January 31, 2017 Trial Balance Account Titles Dr. Cash $45,523 Accounts Receivable $19,800 Adjusted Trial Balance Adjustments Cr. Dr. Cr. Dr. Cr Income Statement Dr. Cr Balance Sheet Dr. Cr. $45,523 $19,800 $29,800 Notes Receivable Inventory Office Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equip. Notes Payable Accounts Payable Interest Payable J. Sandy, Capital J. Sandy, Drawing Sales Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salaries & Wages Expense Rent Expense Totals Office Supplies Expense Insurance Expense Depreciation Expense Interest Expense Totals Net Income Totals page 12 of 15 Name Section Date Sun & Surf Co. (d) Sun & Surf Company Income Statement For the Month Ended January 31, 2017 page 13 of 15 Name Section Date Sun & Surf Co. (d) (Continued) Sun & Surf Company Owner's Equity Statement For the Month Ended January 31, 2017 1 2 3 4 5 6 Sun & Surf Company Balance Sheet January 31, 2017 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 page 14 of 15 30 page 14 of 15 Sun & Surf Co. 1 2 3 4 5 6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 page 14 of 15 30 page 14 of 15 Name Section Date Sun & Surf Co. (f) Sun & Surf Company Post-Closing Trial Balance January 31, 2017 Debit 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Credit Cash Notes Receivable Accounts Receivable Inventory Office Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Notes Payable Accounts Payable Interest Payable J. Sandy, Capital 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Accounts Receivable control account in the G/L balance: Subsidiary account balances: Total Accounts Payable control account in the G/L balance: Subsidiary account balances: Total page 15 of 15 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 page 15 of 15