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 company's Post Closing Trial Balance showed the following accounts and balances: Subsidiary Ledgers balances during the month of August Customers with Outstanding Balances Creditors with Outstanding Balances 12 Borrowed $60,300 from National Trust Bank by signing a Notes Payable. 13 Dora franklin returned a defective refrigerator to the business and received a credit of $5.200. 14 Issued a check to pary the bi-weekly employee salaries, $15,800. 15 Purchased Store Supplies on credit, terms 2/10,n/30, as follows: 17. Purchased a Delivery Truck for $63,000 in cash. 20 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): 21 Received cash of $42,400 in advance for 8 refrigerators to be delivered over the next few months. 22 Made a partial payment for the Store Supplies purchased on September 15th to be applied to the below accounts (before ony applicable discounts) as follows (Hint: You will need to calculate amount of the net cash payment): 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): Prepare the Journal Entries in the General Journal. (Credit account titles are outomatically indented when the entered. Do not indent manually. Record journal entries in the order presented in the problem. Do not use di when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter yo with commas.) 9 10 12 13 14 15 17 20 21 22 23 24 25 27 28 29 30. 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 company's Post Closing Trial Balance showed the following accounts and balances: Subsidiary Ledgers balances during the month of August Customers with Outstanding Balances Creditors with Outstanding Balances 12 Borrowed $60,300 from National Trust Bank by signing a Notes Payable. 13 Dora franklin returned a defective refrigerator to the business and received a credit of $5.200. 14 Issued a check to pary the bi-weekly employee salaries, $15,800. 15 Purchased Store Supplies on credit, terms 2/10,n/30, as follows: 17. Purchased a Delivery Truck for $63,000 in cash. 20 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): 21 Received cash of $42,400 in advance for 8 refrigerators to be delivered over the next few months. 22 Made a partial payment for the Store Supplies purchased on September 15th to be applied to the below accounts (before ony applicable discounts) as follows (Hint: You will need to calculate amount of the net cash payment): 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): Prepare the Journal Entries in the General Journal. (Credit account titles are outomatically indented when the entered. Do not indent manually. Record journal entries in the order presented in the problem. Do not use di when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter yo with commas.) 9 10 12 13 14 15 17 20 21 22 23 24 25 27 28 29 30
