please do general journal entries from transaction A set. I have provided all neccessary information needed. please explain your answer! Help!
General Journal Ede Gate Window fo Journal Entry Beeg 1300 GA 00.00 230000 Sample 0.000 To 1.000.00 10.000.00 0.00 Figure 59 10. Continue working through the transactions from December 17h through the first transaction on December 31" transactions listed below, selecting Customers & Sales, Inventory & Services, Employees & Payroll, or Banking as appropriate. Be sure the default accounts being used by the Sage 50 Journals are the appropriate accounts for the particular transaction you are entering. You can check the accounts being debited and credited by each transaction by clicking on the Journal icon once you have entered the information needed at the top of the transaction screen. If necessary, you can then change the GL account. However, if the defaults have been set up properly, the Sales Journal will automatically post to Sales and Accounts Receivable; the Cash Receipts Journal will post to Cash, Sales Discounts, and Accounts Receivable. Remember that not all customers receive credit terms. For those customers who have remitted a check along with their order, you will need to use the Receive Money task. If a customer number is not available, tab past the Customer ID field, enter the customer name and address, and enter the details of the sales transaction. You will also use the Receipts task for other miscellaneous cash receipts. You can do this either by clicking on Receive Money on the Tasks menu or by clicking on either Customers & Sales or Banking in the Navigation window and then clicking on the Receive Money icon. Note, however, that in some cases you will have to click on the Journal icon and change the account being credited. CAST: General Ledger Applications Sage 50 are for the current year and this may not coincide with those you used in the CAST Manual AIS Module. TRANSACTION SETA December Transaction 16 Receive a purchase order from California Premium Beverage (page (102). Fill and ship the order. Complete Invoice No. 15535. Order 32 tons of Chardonnay grapes at $1,875.00 per ton from 16 Mendocino Vineyards. The item number for the white grapes is WG1003. Add the item to inventory when prompted. Be sure to change the Inventory account. Complete Purchase Order No. 9682. Purchase a 20XW Ford truck for $26,540.00. The terms include a $4,540.00 down payment and a 3-year, 6% promissory note to Ford 16 Credit for the remaining $22,000.00. Principal and interest on the note are due monthly beginning January 4, 20XY. The company expects the truck to have a useful life of 5 years and no salvage value. Prepare Check No. 19257 payable to Potter Valley Ford for the down payment. The Board of Directors of Chateau Americana authorized a $50,000 16 cash dividend payable on January 20 to the stockholders of record on January 15h. Record the transaction. Receive a phone complaint from Seaside Distributors about a case of Chenin Blanc that was damaged in shipment. The case was part of Invoice No. 15175, dated November 5, 20XX, in the amount of 17 $20,438.40. Seaside paid the invoice on November 19, 20XX and took advantage of the discount (terms 3/15, net 30). Prepare Check No. 19286 to reimburse Seaside for the damaged inventory that was not returned to the company. Receive $850 refund from California Wine & Cheese Monthly for 19 overpayment of advertising costs (page 103). The reference number is 12-19. Receive payment in full from Pacific Distribution Co. on Invoice No. 19 15243 dated November 13, 20XX, in the amount of $19,576.80 (page 104). Record the cash receipt. 19 December Transaction Receive a purchase order (page 105) with payment (page 106) from Sonoma Distributors. Fill and ship the order. Record the sale. Receive 19 tons of cabernet sauvignon grapes at $2,279.00 per ton from Mendocino Vineyards (inventory number CS1250). Also received 22 Invoice No. M7634 from Mendocino Vineyards with the shipment (page 107). Terms on the invoice are 2/10, net 30. Record the receipt of the inventory. Receive utility bill from Pacific Gas and Electric in the amount of 26 $18,887.62 (page 108). Prepare Check No. 19402. Receive Brokerage Advice from Edwards Jones for purchase of 500 30 shares of Microsoft at $65.73 per share plus $400 broker's commission (page 109). Prepare Check No. 19468. 30 Prepare Check No. 19473 payable to Mendocino Vineyards for the shipment received on December 22. Receive payment in full for the December 16 purchase from California 31 Premium Beverage (page 110). Record the cash receipt. Prepare Payroll Checks (Nos. 7111-7114) for Anna Johnson, Jos Rodriguez, Tom Bryan, and Bob Hissom. Time cards for Tom and Bob are on pages 111-112. (You will be asked if you want to print the checks. You can elect to print them in PDF format to save paper unless your professor wants you to turn them in.) Prepare Check No. 19474 to transfer cash from the general cash account to the payroll account. 31 Record the payroll transactions. If you have set up payroll correctly, the accruals should be automatically posted. Also note that if you have completed the CAST Manual AIS Module, the payroll amounts might differ from those calculated in Sage 50. Your version of Sage 50 should be using the current year and your professor may have chosen a different year in the Manual Module. 31 Prepare Check No. 19475 to repay $50,000 of the principal on long- term debt to Bank of Huntington. 23545 California Wine and Cheese Monthly 573 Parkins Ave. Ukiah, CA 95482 Lone Star Bank Dallas, TX 27540 Date 12/15/XX 850.00 PAY_Eight Hundred Fifty and 00/100 Dollars To the Chateau Americana order of 3003 Vineyard Way Huntington, CA 95394 7 - SAMPLE, DO NOT CASH- 1:000000;: :000000000: 23545 California Wine and Cheese Monthly 23545 Reference Amount Overpayment of monthly advertising $850.0 Computerized AIS - 103 Ingraham & Jenkins Pacific Distribution Company 10034 Westborough Boulevard San Francisco, CA 94080 Bank of America San Francisco, CA 94104 69712 Date 12/16/XX PAY_Nineteen Thousand Five Hundred Seventy Six and 80/100 Dollars 19,576.80 To The Order Of Chateau Americana 3003 Vineyard Way Huntington, CA 95394 - SAMPLE, DO NOT CASH- 1:000000;: :000000000: 69712 Pacific Distribution Company 69712 Reference Net Amount Invoice #15243, customer # 0505 $19,576.80 CAST: General Ledger Applications PURCHASE ORDER PO Number: 4376 Date: 12/19/XX To: Chateau Americana 3003 Vineyard Way Huntington, CA 95394 Ship To: SONOMA DISTRIBUTORS 3224 Greenlawn Street Ukiah, CA 95482 Phone (707) 555-1705 Fax (707) 555-1706 SHIPPED VIA United Express ABC# A557912 F.O.B. POINT Huntington TERMS Cash ITEM NOQTY SIZE DESCRIPTION TOTAL 480 W120015 W120080 W120019 R130072 R130056 468 300 780 672 0.750 0.750 0.750 0.750 0.750 Riesling Chardonnay Chenin Blanc Shiraz Merlot UNIT PRICE 9.85 13.15 8.98 11.25 9.75 4,728.00 6,154.20 2.694.00 8,775.00 6,552.00 TOTAL 28,903.20 Chrystal Harrington Authorized by 12/19/XX Date Ingraham & Jenkins 17003 Sonoma Distributors 3224 Greenlawn Street Ukiah, CA 95482 Humboldt Bank Ukiah, CA 95482 Date 12/19/xx PAY_Twenty-eight Thousand Nine Hundred Three and 20/100 Dollars 28,903.20 To the order of Chateau Americana 3003 Vineyard Way Huntington, CA 95394 -SAMPLE, DO NOT CASH- 000000;: :000000000: 17003 Sonoma Distributors 17003 Reference Discount Payment for PO 4376 Net Amount $28,903.20 Computerized AIS - 106 CUSTOMER INVOICE Involce Number M7634 Invoice Date 12/20/20XX Mendocino Vineyards 8654 Witherspoon Way Hopland, CA 95449 Phone: (707) 555-1890 Ship To: Sold To: Chateau Americana, Inc. 3003 Vineyard Way Huntington, CA 95394 Credit Terms: 2/10, Net 30 Chateau Americana, Inc 3003 Vineyard Way Huntington, CA 95394 Customer ID CHATAM Product Number Customer P.O. Number 9660 Cost Extended Description Quantity Cabernet Sauvignon Grapes CS1250 19 tons $2,279.00 $43,301.00 Total Cost: $43,301.00 Comments: Dist Copy 1 -- Accounting: Copy 2 - Shipping: Copy 3 - Customer Payment Coupon Amount Enclosed Bill Date: 12/23/20XX Please Pay by 01/17/20XX $18,887.62 Account No. 21790-1879 Chateau Americana, Inc. 3003 Vineyard Way Huntington, CA 95394 Send Payment to Pacific Gas and Electric P.O. Box 2575 San Francisco, CA 94103 Retain bottom portion for your records, detach and return stub with payment. Service Chateau Americana, Inc Your Account Number Rate Class Billing Date 12/23/20XX For: 21790-1879 Commercial 3003 Vineyard Way Huntington, CA 95394 Meter Number 68869800 Service Period 11/23/XX - 12/23/XX Days 31 Type of Reading Actual Multiplier Units 1 KWH Meter Readings Current Past 1098412 1001301 Usage 97111 16,895.53 16,895.53 Previous Balance Payment Balance Forward Current Charges 0.00 18,887.62 Due Date Total Due 01/17/20XX 18.887.62 Pacific Gas and Electric 1000 Energy Drive, San Francisco, CA 94103. (415) 973-8943 Edward Jones Financial Services 100 Market Street San Francisco, CA 9109 (4151504-2000 Customer Chateau Americana, Inc. 3003 Vineyard Way Huntington, CA 95394 Account Number Tax Identifications 02334-85763 23-7788954 SAVE THIS STATEMENT FOR TAX PURPOSES Date Description 12/30/03 Microsoft Corporation Common Shares Fees and or Net Dollar Share Symbal Commissions 5 Amount (5) Price (5) MSFT 40000 33 265 00 65.73 Transaction Shares 500.0000 Computerized AIS - 109 Ingraham & Jenkins 21803 California Premium Beverage 39848 South Street Santa Rosa, CA 95402 Bay View Bank Santa Rosa, CA 95407 Date_12/29/XX PAY_Forty-Seven Thousand Seven Hundred Sixty-Four and 04/100 Dollars - $ 47,764.04 To The Chateau Americana Order Of 3003 Vineyard Way Huntington, CA 95394 - SAMPLE, DO NOT CASH- :000000;: :000000000: 21803 California Premium Beverage 21803 Reference #0504 Invoice 15535 Discount $1,477.24 Net Amount S47.764.04 General Journal Ede Gate Window fo Journal Entry Beeg 1300 GA 00.00 230000 Sample 0.000 To 1.000.00 10.000.00 0.00 Figure 59 10. Continue working through the transactions from December 17h through the first transaction on December 31" transactions listed below, selecting Customers & Sales, Inventory & Services, Employees & Payroll, or Banking as appropriate. Be sure the default accounts being used by the Sage 50 Journals are the appropriate accounts for the particular transaction you are entering. You can check the accounts being debited and credited by each transaction by clicking on the Journal icon once you have entered the information needed at the top of the transaction screen. If necessary, you can then change the GL account. However, if the defaults have been set up properly, the Sales Journal will automatically post to Sales and Accounts Receivable; the Cash Receipts Journal will post to Cash, Sales Discounts, and Accounts Receivable. Remember that not all customers receive credit terms. For those customers who have remitted a check along with their order, you will need to use the Receive Money task. If a customer number is not available, tab past the Customer ID field, enter the customer name and address, and enter the details of the sales transaction. You will also use the Receipts task for other miscellaneous cash receipts. You can do this either by clicking on Receive Money on the Tasks menu or by clicking on either Customers & Sales or Banking in the Navigation window and then clicking on the Receive Money icon. Note, however, that in some cases you will have to click on the Journal icon and change the account being credited. CAST: General Ledger Applications Sage 50 are for the current year and this may not coincide with those you used in the CAST Manual AIS Module. TRANSACTION SETA December Transaction 16 Receive a purchase order from California Premium Beverage (page (102). Fill and ship the order. Complete Invoice No. 15535. Order 32 tons of Chardonnay grapes at $1,875.00 per ton from 16 Mendocino Vineyards. The item number for the white grapes is WG1003. Add the item to inventory when prompted. Be sure to change the Inventory account. Complete Purchase Order No. 9682. Purchase a 20XW Ford truck for $26,540.00. The terms include a $4,540.00 down payment and a 3-year, 6% promissory note to Ford 16 Credit for the remaining $22,000.00. Principal and interest on the note are due monthly beginning January 4, 20XY. The company expects the truck to have a useful life of 5 years and no salvage value. Prepare Check No. 19257 payable to Potter Valley Ford for the down payment. The Board of Directors of Chateau Americana authorized a $50,000 16 cash dividend payable on January 20 to the stockholders of record on January 15h. Record the transaction. Receive a phone complaint from Seaside Distributors about a case of Chenin Blanc that was damaged in shipment. The case was part of Invoice No. 15175, dated November 5, 20XX, in the amount of 17 $20,438.40. Seaside paid the invoice on November 19, 20XX and took advantage of the discount (terms 3/15, net 30). Prepare Check No. 19286 to reimburse Seaside for the damaged inventory that was not returned to the company. Receive $850 refund from California Wine & Cheese Monthly for 19 overpayment of advertising costs (page 103). The reference number is 12-19. Receive payment in full from Pacific Distribution Co. on Invoice No. 19 15243 dated November 13, 20XX, in the amount of $19,576.80 (page 104). Record the cash receipt. 19 December Transaction Receive a purchase order (page 105) with payment (page 106) from Sonoma Distributors. Fill and ship the order. Record the sale. Receive 19 tons of cabernet sauvignon grapes at $2,279.00 per ton from Mendocino Vineyards (inventory number CS1250). Also received 22 Invoice No. M7634 from Mendocino Vineyards with the shipment (page 107). Terms on the invoice are 2/10, net 30. Record the receipt of the inventory. Receive utility bill from Pacific Gas and Electric in the amount of 26 $18,887.62 (page 108). Prepare Check No. 19402. Receive Brokerage Advice from Edwards Jones for purchase of 500 30 shares of Microsoft at $65.73 per share plus $400 broker's commission (page 109). Prepare Check No. 19468. 30 Prepare Check No. 19473 payable to Mendocino Vineyards for the shipment received on December 22. Receive payment in full for the December 16 purchase from California 31 Premium Beverage (page 110). Record the cash receipt. Prepare Payroll Checks (Nos. 7111-7114) for Anna Johnson, Jos Rodriguez, Tom Bryan, and Bob Hissom. Time cards for Tom and Bob are on pages 111-112. (You will be asked if you want to print the checks. You can elect to print them in PDF format to save paper unless your professor wants you to turn them in.) Prepare Check No. 19474 to transfer cash from the general cash account to the payroll account. 31 Record the payroll transactions. If you have set up payroll correctly, the accruals should be automatically posted. Also note that if you have completed the CAST Manual AIS Module, the payroll amounts might differ from those calculated in Sage 50. Your version of Sage 50 should be using the current year and your professor may have chosen a different year in the Manual Module. 31 Prepare Check No. 19475 to repay $50,000 of the principal on long- term debt to Bank of Huntington. 23545 California Wine and Cheese Monthly 573 Parkins Ave. Ukiah, CA 95482 Lone Star Bank Dallas, TX 27540 Date 12/15/XX 850.00 PAY_Eight Hundred Fifty and 00/100 Dollars To the Chateau Americana order of 3003 Vineyard Way Huntington, CA 95394 7 - SAMPLE, DO NOT CASH- 1:000000;: :000000000: 23545 California Wine and Cheese Monthly 23545 Reference Amount Overpayment of monthly advertising $850.0 Computerized AIS - 103 Ingraham & Jenkins Pacific Distribution Company 10034 Westborough Boulevard San Francisco, CA 94080 Bank of America San Francisco, CA 94104 69712 Date 12/16/XX PAY_Nineteen Thousand Five Hundred Seventy Six and 80/100 Dollars 19,576.80 To The Order Of Chateau Americana 3003 Vineyard Way Huntington, CA 95394 - SAMPLE, DO NOT CASH- 1:000000;: :000000000: 69712 Pacific Distribution Company 69712 Reference Net Amount Invoice #15243, customer # 0505 $19,576.80 CAST: General Ledger Applications PURCHASE ORDER PO Number: 4376 Date: 12/19/XX To: Chateau Americana 3003 Vineyard Way Huntington, CA 95394 Ship To: SONOMA DISTRIBUTORS 3224 Greenlawn Street Ukiah, CA 95482 Phone (707) 555-1705 Fax (707) 555-1706 SHIPPED VIA United Express ABC# A557912 F.O.B. POINT Huntington TERMS Cash ITEM NOQTY SIZE DESCRIPTION TOTAL 480 W120015 W120080 W120019 R130072 R130056 468 300 780 672 0.750 0.750 0.750 0.750 0.750 Riesling Chardonnay Chenin Blanc Shiraz Merlot UNIT PRICE 9.85 13.15 8.98 11.25 9.75 4,728.00 6,154.20 2.694.00 8,775.00 6,552.00 TOTAL 28,903.20 Chrystal Harrington Authorized by 12/19/XX Date Ingraham & Jenkins 17003 Sonoma Distributors 3224 Greenlawn Street Ukiah, CA 95482 Humboldt Bank Ukiah, CA 95482 Date 12/19/xx PAY_Twenty-eight Thousand Nine Hundred Three and 20/100 Dollars 28,903.20 To the order of Chateau Americana 3003 Vineyard Way Huntington, CA 95394 -SAMPLE, DO NOT CASH- 000000;: :000000000: 17003 Sonoma Distributors 17003 Reference Discount Payment for PO 4376 Net Amount $28,903.20 Computerized AIS - 106 CUSTOMER INVOICE Involce Number M7634 Invoice Date 12/20/20XX Mendocino Vineyards 8654 Witherspoon Way Hopland, CA 95449 Phone: (707) 555-1890 Ship To: Sold To: Chateau Americana, Inc. 3003 Vineyard Way Huntington, CA 95394 Credit Terms: 2/10, Net 30 Chateau Americana, Inc 3003 Vineyard Way Huntington, CA 95394 Customer ID CHATAM Product Number Customer P.O. Number 9660 Cost Extended Description Quantity Cabernet Sauvignon Grapes CS1250 19 tons $2,279.00 $43,301.00 Total Cost: $43,301.00 Comments: Dist Copy 1 -- Accounting: Copy 2 - Shipping: Copy 3 - Customer Payment Coupon Amount Enclosed Bill Date: 12/23/20XX Please Pay by 01/17/20XX $18,887.62 Account No. 21790-1879 Chateau Americana, Inc. 3003 Vineyard Way Huntington, CA 95394 Send Payment to Pacific Gas and Electric P.O. Box 2575 San Francisco, CA 94103 Retain bottom portion for your records, detach and return stub with payment. Service Chateau Americana, Inc Your Account Number Rate Class Billing Date 12/23/20XX For: 21790-1879 Commercial 3003 Vineyard Way Huntington, CA 95394 Meter Number 68869800 Service Period 11/23/XX - 12/23/XX Days 31 Type of Reading Actual Multiplier Units 1 KWH Meter Readings Current Past 1098412 1001301 Usage 97111 16,895.53 16,895.53 Previous Balance Payment Balance Forward Current Charges 0.00 18,887.62 Due Date Total Due 01/17/20XX 18.887.62 Pacific Gas and Electric 1000 Energy Drive, San Francisco, CA 94103. (415) 973-8943 Edward Jones Financial Services 100 Market Street San Francisco, CA 9109 (4151504-2000 Customer Chateau Americana, Inc. 3003 Vineyard Way Huntington, CA 95394 Account Number Tax Identifications 02334-85763 23-7788954 SAVE THIS STATEMENT FOR TAX PURPOSES Date Description 12/30/03 Microsoft Corporation Common Shares Fees and or Net Dollar Share Symbal Commissions 5 Amount (5) Price (5) MSFT 40000 33 265 00 65.73 Transaction Shares 500.0000 Computerized AIS - 109 Ingraham & Jenkins 21803 California Premium Beverage 39848 South Street Santa Rosa, CA 95402 Bay View Bank Santa Rosa, CA 95407 Date_12/29/XX PAY_Forty-Seven Thousand Seven Hundred Sixty-Four and 04/100 Dollars - $ 47,764.04 To The Chateau Americana Order Of 3003 Vineyard Way Huntington, CA 95394 - SAMPLE, DO NOT CASH- :000000;: :000000000: 21803 California Premium Beverage 21803 Reference #0504 Invoice 15535 Discount $1,477.24 Net Amount S47.764.04
