please help me post these transactions, to their books
Date March 1 Description of the Transaction Owners of OPJ invested an additional $55,000 cash into the business. The cash is put into Big Bank (As an example of how to journalize and post a transaction - this transaction has already been entered into the General Journal and posted to the General Ledger) March 1 Pay off the $60,000 Note Payable owed to Little Bank. The cash to pay off the note is taken out of Big Bank. Also pay to Little Bank $450 for interest owed on the Note Payable for February The $450 cash is also taken out of Big Bank March 1 Take $5,150 cash out of Big Bank to pay for March's rent March 2 The customer that purchased on credit on February 15 pays $88,000 cash to pay off the amount due. The cash is deposited into Big Bank March 10 Sale of inventory to a customer-selling price $82,500 - cost of the inventory sold $24,000 The customer pays cash. The cash is deposited into Little Bank. March 15 Take $25,000 cash out of Little Bank to pay employees for wages they have earned March 16 Purchase $69,000 of additional inventory. OPJ will pay the manufacturer 50% of the $69,000 in 10 days. OPJ will pay the remaining 50% in 30 days. March 17 Sale of inventory to a customer-selling price $123,000 -- cost of the inventory sold $38,000 The customer will pay for the purchase in 30 days. March 20 Sale of inventory to a customer - selling price $178,500 - cost of the inventory sold $37,500 The customer pays $25,500 cash that is deposited into Little Bank The customer will pay the remaining amount in 30 days. March 22 Purchase inventory for $44,000 cash. The cash is taken out of Big Bank. Directions Trans Chart Accts Journal GL Assets GL Liab-Equity GL Rev-Exp Trial Bal IS & RE Balsht fr March 26 Pay the manufacturer the 50% due on the March 16th purchase of inventory. The cash is taken out of Big Bank March 30 Take $33,250 cash out of Little Bank to pay employees for wages they have earned Additional Information Note Payable Big Bank: Interest due to Big Bank on the Note Payable for the month of March is $625. As of March 31 OPJ owes Big Bank a total of $1,225 for interest ($600 for February + $625 for March) Interest will be paid to Big Bank in June. Overpriced Jeans, Inc. - General Ledger Enter amounts into th by typing in the amou Account # 200 Accounts Payable Do NOT copy cells fr General Journal into 2021 Journal Debit Credit Balance Page! Month Day 3-1 Beginning Balance 0.00 0.00 Cr Accountil 210 Note Payable - Big Bank Journal 2021 Month Day Debit Credit Balance Page 8 3-1 Beginning Balance 65,000.00 65,000.00 C Account II 215 Note Payable - Little Bank Journal 2021 Month Day Debit Credit Balance Page # 3-1 Beginning Balance 60,000.00 60,000.00 CM Directions Trans Chart Accts Journal GL Assets GL Llab-Equity GL Rev-Exp Trial Bar IS & RE Balsht Ready Account # 220 Interest Payable - Big Bank Journal 2021 Month Day Debit Credit Balance Page Beginning Balance 600.00 3-1 600.00 Cr Account # 225 Interest Payable - Little Bank Journal 2021 Month-Day Debit Credit Balance Page # 3-1 Beginning Balance 450.00 450.00 Cr Account # 300 Common Stock Journal Debit Credit Balance Page 1 2021 Month Day 3-1 Beginning Balance 3-1 75,000.00 55,000.00 75,000.00 C 130,000.00 CE Directions Trans Chart Accts Journal GL Assets GL Liab-Equity GL Rev-Exp Trial Bal IS 8 Account # 305 Retained Earnings 2021 Journal Page 1 Debit Credit Balance Month Day 3-1 Beginning Balance 155,950.00 155,950.00 C Overpriced Jeans, Inc. - General Ledger Ente by ty Account # 400 Sales Revenue Do N Gene Journal Debit Credit Balance 2021 Month Day 3-1 Beginning Balance Page! 0.00 0.00 CI Account 500 Cost of Goods Sold Journal Page 1 Debit Credit 2021 Month Day 3-1 Balance Beginning Balance 0.00 0.00 DI Directions Trans Chart Accts Journal GL Assets GL Liab-Equity GL Rev-Exp Trial Bal IS & Ready Account # 510 Rent Expense Journal 2021 Debit Credit Balance Page # Month-Day 0.00 0.00 DI 3-1 Beginning Balance Account # 515 Wages Expense Journal Page # Debit Credit 2021 Month Day 3-1 Balance Beginning Balance 0.00 0.00 DO Account # 520 Interest Expense Journal Debit Credit Balance 2021 Month-Day 3-1 Page # Beginning Balance 0.001 0.00 DE Directions Trans Chart Accts Journal GL Assets GL Liab-Equity GL Rev-Exp Trial Bal IS Ready
