June 16 A check was issued in payment of a June 6 invoice from Kawasaki USA. To check the balance due on this June 6 invoice, click on Journals/Ledgers/Statements, select the Subsidiary Ledger option, and select Accounts Payable Ledger. Look up the Kawasaki USA account. Do not overlook the purchase return of June 14. Check Number: 31225. Invoice Number: K4461. Remember that the net method of recording purchases is being used by Granite Bay Jet Ski. Algorithmic Granite Bay Jet Ski II Accounts Payable Vendor Account: 24500 Kawasaki USA 2/10, n/30 Date Explanation Debit Credit Balance June 2 Balance June 6 K4461 June 14 K4461 DM601 0.00 46,280.00 46,280.00 39,400.00 6,880.00 ASSETS 101 102 103 105 106 109 111 113 115 121 124 125 127 131 132 135 136 139 140 Cash Petty Cash Short-Term Investments Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Storage Fees Receivable Interest Receivable Merchandise Inventory Prepaid Insurance Prepaid Property Tax Prepaid Advertising Store and Shop Supplies Store Equipment and Fixtures Accumulated Depreciation, Store Equipment and Fixtures Shop Equipment Accumulated Depreciation, Shop Equipment Trucks Accumulated Depreciation, Trucks LIABILITIES 201 203 205 207 209 211 213 215 221 230 Accounts Payable Notes Payable Sales Tax Payable Dividends Payable Salaries and Wages Payable Estimated Property Taxes Payable Income Taxes Payable Interest Payable Unearned Storage Fees Long-term Notes Payable STOCKHOLDERS' EQUITY 301 305 311 Common Stock Retained Earnings Dividends Declared REVENUE 401 402 411 421 Watercraft and Accessory Sales Sales Returns and Allowances Service Fees Earned Storage Fees Earned COST OF GOODS SOLD Cost of Goods Sold Transportation-In 501 505 OPERATING EXPENSES 601 602 603 604 606 607 608 610 611 612 Selling Expenses Salaries and Wages Expense Store and Shop Supplies Expense Truck and Equipment Operating Expense Advertising Expense Delivery Expense Credit Card Expense Tools Expense Depreciation Expense, Store Equipment and Fixtures Depreciation Expense, Shop Equipment Depreciation Expense, Trucks 621 622 623 624 625 626 627 628 629 631 633 635 Administrative Expenses Rent Expense Insurance Expense Bad Debt Expense Property Tax Expense Utilities Expense Telephone Expense Bank Service Charges License Expense Professional Services Expense Cash Short and Over Discounts Lost Miscellaneous Expense OTHER REVENUE 711 713 721 731 741 Interest Earned Dividends Earned Gain on Sale of Assets Gain on Short-Term Investments Miscellaneous Revenue OTHER EXPENSES 811 813 821 831 Income Tax Expense Interest Expense Loss on Sale/Disposal of Assets Loss on Short-Term Investments INCOME SUMMARY 901 Income Summary