On August 1, 2016, Stephanie Ram, a sole proprietor, started a new business, Ram Wholesale Company. The company sells refrigerators (merchandise) to various retail stores and uses the periodic inventory system. At the end of August, the companys Post-Closing Trial Balance showed the following accounts and balances:

Post the Journal Entries to the General Ledger and Subsidiary Ledgers. Amounts to the Accounts Receivable and Accounts Payable should be posted as a total amount to the Accounts Receivable and Accounts Payable accounts in the General Ledger. (Post the General Journal entries in chronological order to the respective accounts in the Ledgers below. Calculate the running balances for each account after each posting. Do not use dollar signs ($) when entering amounts. Only recalculate the ending balances to Ledger accounts where amounts were posted. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.)

Prepare a Trial Balance using the account names and balances from the General Ledger. (Do not list those accounts that have zero ending balance. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.)

Using the information from the Accounts Receivable Subsidiary Ledger, prepare a Schedule of Accounts Receivable. (Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.)

Using the information from the Accounts Payable Subsidiary Ledger, prepare a Schedule of Accounts Payable. (Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.

Credit Ram Wholesale Company Post-Closing Trial Balance August 31, 2016 Account Titles Debit Cash $152,900 Accounts Receivable 15,800 Merchandise Inventory, 9/30/15 54,500 Store Supplies 4,300 Office Supplies 2,800 Land 35,000 Delivery Truck 89,000 Accumulated Depreciation, Delivery Truck Accounts Payable Unearned Sales Revenue Notes Payable (Due 2040) Stephanie Ram, Capital Totals $354,300 $700 20,600 1,900 62,500 268,600 $354,300 Subsidiary Ledgers balances during the month of August Customers with Outstanding Balances Dates Balances Customer Names Jose Mendes 8/25 Credit Terms 3/20, N/60 2/15, N/45 $9,700 6,100 8/28 Nicholas Jay Totals $ 15,800 Creditors with Outstanding Balances Dates Credit Terms Balances 8/22 8/24 8/26 Creditors Names Lisa Supplies Company Farge Company Mason Retailers 1/10, N/60 2/15, N/45 1/20, N/60 $8,200 8,500 3,900 $20,600 Totals Sept. 1 2 3 6 Stephanie Ram, the proprietor of the business, invested $89,000 cash and Office Supplies valued at $1,800 into the business. Issued a check to establish a Petty Cash Fund for $5,500. Paid a premium of $3,400 for a one-year insurance policy, effective September 1st, Purchased 44 refrigerators on credit for $184,800 from Mason Retailers. The credit terms of the sale were 4/20, n/45, F.O.B. shipping point. Issued a check for $2,010 for the delivery charges on the September 6th transaction. The business returned two damaged refrigerators to Mason Retailers and received a credit of $7,000. Sold several refrigerators to various customers with the credit terms 3/10, n/60 and bills were sent out as follows: 8 9 10 Jose Mendes Amy Thomas Nicholas Jay Dora Franklin $6,300 12,500 4,400 14,100 $37,300 Totals 12 13 Borrowed $63,000 from National Trust Bank by signing a Notes Payable. Dora Franklin returned a defective refrigerator to the business and received a credit of $4,700. Issued a check to pay the bi-weekly employee salaries, $16,500. Purchased Store Supplies on credit, terms 2/10, n/30, as follows: 14 15 Wiley Retailers Lisa Supplies Company Farge Company Lincoln Wholesale $1,800 1,200 1,100 2,500 $6,600 Totals 17 20 Purchased a Delivery Truck for $70,000 in cash. Received payment (before any applicable discounts) from the following customers for the September 10th sale to be applied to their accounts as follows (Hint: You will need to calculate amount of net cash received from customers): Jose Mendes $3,200 Amy Thomas 5,400 Nicholas Jay 3,800 Dora Franklin 8,700 $21,100 Totals 21 22 Received cash of $20,800 in advance for 4 refrigerators to be delivered over the next few months. Made a partial payment for the Store Supplies purchased on September 15th to be applied to the below accounts (before any applicable discounts) as follows (Hint: You will need to calculate amount of the net cash payment): $1,600 2,900 Wiley Retailers Lisa Supplies Company Farge Company Lincoln Wholesale 600 800 Totals $5,900 23 24 25 26 Stephanie Ram withdrew $4,300 in cash for her personal use. Sold several refrigerators and received $216,000 cash. Made a partial payment to Mason Retailers of $91,000 to be applied as a reduction to the account balance (before any applicable discounts) for the September 6th transaction (Hint: You will need to calculate amount of the net cash payment). Paid the monthly utility bills, $7,900. Stephanie Ram purchased a Forklift for $32,900. Issued a check to pay the bi-weekly employee salaries, $16,500. The Petty Cash Fund had a cash balance of $3,500 at the end of September with petty cash receipts/vouchers for postage, $380, and repair supplies, $930. A check was issued to replenish the fund. Issued a check for the payment of September's rent, $15,500. 27 28 29 30 Date Account Titles Debit Credit 2016 Sept. 1 Cash 89,000 Office Supplies 1,800 Stephanie Ram, Capital 90,800 2 Petty Cash Fund 5,500 Cash 5,500 3 Prepaid Insurance 3,400 Cash 3,400 6 Purchases 184,800 Accounts Payable/Lincoln Wholesale 184,800 8 Freight-in 2,010 Cash 2,010 9 Accounts Payable/Mason Retailers 7,000 Purchases Returns and Allowances 7,000 10 Accounts Receivable/Amy Thomas 12,500 Accounts Receivable/Jose Mendes 6,300 Accounts Receivable/Nicholas Jay 4,400 Accounts Receivable/Dora Franklin 14,100 Cash 37,300 12 Cash 63,000 Notes Payable 63,000 13 Sales Returns and Allowances 4,700 Accounts Receivable/Dora Franklin 4,700 14 Salaries Expense 16,500 Cash 16,500 15 Store Supplies 6,600 Accounts Payable/Lisa Supplies Co. 1,200 Accounts Payable/Wiley Retailers 1,800 Accounts Payable/Farge Co. 1,100 Accounts Payable/Lincoln Wholesale > 2,500 17 Delivery Truck 70,000 Cash 70,000 20 Cash 21,100 Sales Discounts Accounts Receivable/Jose Mendes 3,200 Accounts Receivable/Amy Thomas 5,400 Accounts Receivable/Dora Franklin 8,700 Accounts Receivable/Nicholas Jay 3,800 21 Cash 20,800 Unearned Sales Revenue 20,800 22 23 Stephanie Ram, Drawings 4,300 Cash 4,300 24 Cash 216,000 Sales Revenue 216,000 25 Accounts Receivable/Dora Franklin 91,000 Cash Purchases Discounts > 26 Utilities Expense 1,500 30 Rent Expense 15,500 Cash 15,500 Cash Date Debit Credit Balance Aug. 31 Balance 152,900 Sept. 1 v 89,000 241,900 2. 5,500 236,400 3 3,400 233,000 6 184,800 12 14 17 20 21 22 23 24 25 26 27 28 29 30 Petty Cash Fund Date Debit Credit Balance Accounts Receivable Date Debit Credit Balance Aug. 31 Balance 15,800 Merchandise Inventory Date Debit Credit Balance Aug. 31 Balance 54,500 Store Supplies Date Debit Credit Balance Aug. 31 Balance 4,300 Office Supplies Date Debit Credit Balance Aug. 31 Balance 2,800 Prepaid Insurance Date Debit Credit Balance Land Date Debit Credit Balance Aug. 31 Balance 35,000 Forklift Date Debit Credit Balance Delivery Truck Date Debit Credit Balance Aug. 31 Balance 89,000 Accumulated Depreciation, Delivery Truck Date Debit Credit Balance Aug. 31 Balance 700 Accounts Payable Date Debit Credit Balance 20,600 Aug. 31 Balance Unearned Sales Revenue Date Debit Credit Balance Aug. 31 Balance 1,900 Notes Payable Date Debit Credit Balance Aug. 31 Balance 62,500 Stephanie Ram, Capital Date Debit Credit Balance Aug. 31 Balance 268,600 Sept. 1 30 Stephanie Ram, Drawings Date Debit Credit Balance 23 30 Sales Revenue Date Debit Credit Balance Sales Discounts Date Debit Credit Balance Sales Returns and Allowances Date Debit Credit Balance Purchases Date Debit Credit Balance Purchases Discounts Date Debit Credit Balance Purchases Returns and Allowances Date Debit Credit Balance Freight-In Date Debit Credit Balance Salaries Expense Date Debit Credit Balance Utilities Expense Date Debit Credit Balance Repair Supplies Expense Date Debit Credit Balance Postage Expense Date Debit Credit Balance Rent Expense Date Debit Credit Balance Cash Short & Over Date Debit Credit Balance Accounts Receivable Subsidiary Ledger Jose Mendes Date Item Debit Credit Balance Aug. 25 Balance 3/20; N/60 9,700 3/10; N/60 Amy Thomas Date Item Debit Credit Balance 3/10; N/60 Nicholas Jay Date Item Debit Credit Balance Aug. 28 Balance 3/20; N/45 6,100 3/10; N/60 Dora Franklin Date Item Debit Credit Balance 3/10; N/60 Accounts Payable Subsidiary Ledger Wiley Retailers Date Item Debit Credit Balance 2/10; N/30 Lisa Supplies Company Date Debit Credit Balance Aug. 22 Balance 1/10; N/60 8,200 2/10; N/30 Farge Company Date Item Debit Credit Balance Aug. 24 Balance 2/15; N/60 8,500 2/10; N/30 Mason Retailers Date Item Debit Credit Balance Aug. 26 Balance 1/20; N/45 3,900 4/20; N/45 Lincoln Wholesale Date Item Debit Credit Balance 2/10; N/30 Debit Credit $ Totals > > $ Total $ Credit Ram Wholesale Company Post-Closing Trial Balance August 31, 2016 Account Titles Debit Cash $152,900 Accounts Receivable 15,800 Merchandise Inventory, 9/30/15 54,500 Store Supplies 4,300 Office Supplies 2,800 Land 35,000 Delivery Truck 89,000 Accumulated Depreciation, Delivery Truck Accounts Payable Unearned Sales Revenue Notes Payable (Due 2040) Stephanie Ram, Capital Totals $354,300 $700 20,600 1,900 62,500 268,600 $354,300 Subsidiary Ledgers balances during the month of August Customers with Outstanding Balances Dates Balances Customer Names Jose Mendes 8/25 Credit Terms 3/20, N/60 2/15, N/45 $9,700 6,100 8/28 Nicholas Jay Totals $ 15,800 Creditors with Outstanding Balances Dates Credit Terms Balances 8/22 8/24 8/26 Creditors Names Lisa Supplies Company Farge Company Mason Retailers 1/10, N/60 2/15, N/45 1/20, N/60 $8,200 8,500 3,900 $20,600 Totals Sept. 1 2 3 6 Stephanie Ram, the proprietor of the business, invested $89,000 cash and Office Supplies valued at $1,800 into the business. Issued a check to establish a Petty Cash Fund for $5,500. Paid a premium of $3,400 for a one-year insurance policy, effective September 1st, Purchased 44 refrigerators on credit for $184,800 from Mason Retailers. The credit terms of the sale were 4/20, n/45, F.O.B. shipping point. Issued a check for $2,010 for the delivery charges on the September 6th transaction. The business returned two damaged refrigerators to Mason Retailers and received a credit of $7,000. Sold several refrigerators to various customers with the credit terms 3/10, n/60 and bills were sent out as follows: 8 9 10 Jose Mendes Amy Thomas Nicholas Jay Dora Franklin $6,300 12,500 4,400 14,100 $37,300 Totals 12 13 Borrowed $63,000 from National Trust Bank by signing a Notes Payable. Dora Franklin returned a defective refrigerator to the business and received a credit of $4,700. Issued a check to pay the bi-weekly employee salaries, $16,500. Purchased Store Supplies on credit, terms 2/10, n/30, as follows: 14 15 Wiley Retailers Lisa Supplies Company Farge Company Lincoln Wholesale $1,800 1,200 1,100 2,500 $6,600 Totals 17 20 Purchased a Delivery Truck for $70,000 in cash. Received payment (before any applicable discounts) from the following customers for the September 10th sale to be applied to their accounts as follows (Hint: You will need to calculate amount of net cash received from customers): Jose Mendes $3,200 Amy Thomas 5,400 Nicholas Jay 3,800 Dora Franklin 8,700 $21,100 Totals 21 22 Received cash of $20,800 in advance for 4 refrigerators to be delivered over the next few months. Made a partial payment for the Store Supplies purchased on September 15th to be applied to the below accounts (before any applicable discounts) as follows (Hint: You will need to calculate amount of the net cash payment): $1,600 2,900 Wiley Retailers Lisa Supplies Company Farge Company Lincoln Wholesale 600 800 Totals $5,900 23 24 25 26 Stephanie Ram withdrew $4,300 in cash for her personal use. Sold several refrigerators and received $216,000 cash. Made a partial payment to Mason Retailers of $91,000 to be applied as a reduction to the account balance (before any applicable discounts) for the September 6th transaction (Hint: You will need to calculate amount of the net cash payment). Paid the monthly utility bills, $7,900. Stephanie Ram purchased a Forklift for $32,900. Issued a check to pay the bi-weekly employee salaries, $16,500. The Petty Cash Fund had a cash balance of $3,500 at the end of September with petty cash receipts/vouchers for postage, $380, and repair supplies, $930. A check was issued to replenish the fund. Issued a check for the payment of September's rent, $15,500. 27 28 29 30 Date Account Titles Debit Credit 2016 Sept. 1 Cash 89,000 Office Supplies 1,800 Stephanie Ram, Capital 90,800 2 Petty Cash Fund 5,500 Cash 5,500 3 Prepaid Insurance 3,400 Cash 3,400 6 Purchases 184,800 Accounts Payable/Lincoln Wholesale 184,800 8 Freight-in 2,010 Cash 2,010 9 Accounts Payable/Mason Retailers 7,000 Purchases Returns and Allowances 7,000 10 Accounts Receivable/Amy Thomas 12,500 Accounts Receivable/Jose Mendes 6,300 Accounts Receivable/Nicholas Jay 4,400 Accounts Receivable/Dora Franklin 14,100 Cash 37,300 12 Cash 63,000 Notes Payable 63,000 13 Sales Returns and Allowances 4,700 Accounts Receivable/Dora Franklin 4,700 14 Salaries Expense 16,500 Cash 16,500 15 Store Supplies 6,600 Accounts Payable/Lisa Supplies Co. 1,200 Accounts Payable/Wiley Retailers 1,800 Accounts Payable/Farge Co. 1,100 Accounts Payable/Lincoln Wholesale > 2,500 17 Delivery Truck 70,000 Cash 70,000 20 Cash 21,100 Sales Discounts Accounts Receivable/Jose Mendes 3,200 Accounts Receivable/Amy Thomas 5,400 Accounts Receivable/Dora Franklin 8,700 Accounts Receivable/Nicholas Jay 3,800 21 Cash 20,800 Unearned Sales Revenue 20,800 22 23 Stephanie Ram, Drawings 4,300 Cash 4,300 24 Cash 216,000 Sales Revenue 216,000 25 Accounts Receivable/Dora Franklin 91,000 Cash Purchases Discounts > 26 Utilities Expense 1,500 30 Rent Expense 15,500 Cash 15,500 Cash Date Debit Credit Balance Aug. 31 Balance 152,900 Sept. 1 v 89,000 241,900 2. 5,500 236,400 3 3,400 233,000 6 184,800 12 14 17 20 21 22 23 24 25 26 27 28 29 30 Petty Cash Fund Date Debit Credit Balance Accounts Receivable Date Debit Credit Balance Aug. 31 Balance 15,800 Merchandise Inventory Date Debit Credit Balance Aug. 31 Balance 54,500 Store Supplies Date Debit Credit Balance Aug. 31 Balance 4,300 Office Supplies Date Debit Credit Balance Aug. 31 Balance 2,800 Prepaid Insurance Date Debit Credit Balance Land Date Debit Credit Balance Aug. 31 Balance 35,000 Forklift Date Debit Credit Balance Delivery Truck Date Debit Credit Balance Aug. 31 Balance 89,000 Accumulated Depreciation, Delivery Truck Date Debit Credit Balance Aug. 31 Balance 700 Accounts Payable Date Debit Credit Balance 20,600 Aug. 31 Balance Unearned Sales Revenue Date Debit Credit Balance Aug. 31 Balance 1,900 Notes Payable Date Debit Credit Balance Aug. 31 Balance 62,500 Stephanie Ram, Capital Date Debit Credit Balance Aug. 31 Balance 268,600 Sept. 1 30 Stephanie Ram, Drawings Date Debit Credit Balance 23 30 Sales Revenue Date Debit Credit Balance Sales Discounts Date Debit Credit Balance Sales Returns and Allowances Date Debit Credit Balance Purchases Date Debit Credit Balance Purchases Discounts Date Debit Credit Balance Purchases Returns and Allowances Date Debit Credit Balance Freight-In Date Debit Credit Balance Salaries Expense Date Debit Credit Balance Utilities Expense Date Debit Credit Balance Repair Supplies Expense Date Debit Credit Balance Postage Expense Date Debit Credit Balance Rent Expense Date Debit Credit Balance Cash Short & Over Date Debit Credit Balance Accounts Receivable Subsidiary Ledger Jose Mendes Date Item Debit Credit Balance Aug. 25 Balance 3/20; N/60 9,700 3/10; N/60 Amy Thomas Date Item Debit Credit Balance 3/10; N/60 Nicholas Jay Date Item Debit Credit Balance Aug. 28 Balance 3/20; N/45 6,100 3/10; N/60 Dora Franklin Date Item Debit Credit Balance 3/10; N/60 Accounts Payable Subsidiary Ledger Wiley Retailers Date Item Debit Credit Balance 2/10; N/30 Lisa Supplies Company Date Debit Credit Balance Aug. 22 Balance 1/10; N/60 8,200 2/10; N/30 Farge Company Date Item Debit Credit Balance Aug. 24 Balance 2/15; N/60 8,500 2/10; N/30 Mason Retailers Date Item Debit Credit Balance Aug. 26 Balance 1/20; N/45 3,900 4/20; N/45 Lincoln Wholesale Date Item Debit Credit Balance 2/10; N/30 Debit Credit $ Totals > > $ Total $