Please help with these journal entries! I nees to know which accounts to debit and credit (Business papers 31-39)

INTRODUCTION

The Company sells and rents camping equipment from its store in Denver, Colorado. It is a sole proprietorship and is owned and operated by Samuel Stephens. Maintains a perpetual inventory system. The company also rents tents and groups of assorted camping equipment to trail guides. The terms of all sales and all rentals are net 30. The company delivers the equipment to many of its customers. Some customers pick it up at the store. Mr. Stephens makes all deposits. He removes the cash from the cash register and lists all checks received on a deposit ticket. He then gives the duplicate deposit slip to you for recording.

INSTRUCTIONS

Examine the business papers that follow. They consist of sales invoices, rental invoices, purchase invoices, duplicate deposits slips, credit memoranda and interoffice memoranda. They appear in the order in which they come to the bookkeepers attention. The actions you as bookkeeper should take regarding these are:

Sales Invoices Enter the information in the Sales Journal. Post to the Subsidiary Accounts Subsidiary Ledger.

Rental Invoices Enter the information in the Sales Journal. Post to the Subsidiary Accounts Subsidiary Ledger.

Purchases Invoices Enter information in the Purchases Journal on the date the invoice is received for each purchase of merchandise inventory or supplies. Post to the Subsidiary Accounts Payable Ledger. Mr. Stephens will send you an interoffice memorandum when he wants you to prepare checks for payment for these invoices.

Credit Memoranda Enter the information in the General Journal.

Duplicate Deposit Tickets All cash deposits are from cash sales of camping equipment and should be recorded as a credit to Sales. The checks listed on the deposit ticket are receipts from customers who have made payments on their accounts and should be recorded as credits to Accounts Receivable and posted to the Subsidiary Accounts Receivable Ledger.

Interoffice Memoranda The owner sends information to you, the bookkeeper, instructing you to do certain tasks, such as prepare checks for his signature, establish a new account, or reclassify a previously recorded purchase. When Mr. Stephens asks you to prepare checks for his signature, you will not prepare a check but you will need to record the payment in the Cash Disbursements Journal. You are not authorized to sign checks to follow good internal control procedures.

CHART OF GENERAL LEDGER ACCOUNTS

Account Title

Account Number

Cash

101

Petty cash

102

Accounts Receivable

106

Allowance for Doubtful Accounts

107

Interest Receivable

109

Notes Receivable

111

Merchandise Inventory

119

Office Supplies

124

Store Supplies

125

Prepaid Insurance

128

Office Equipment

163

Accumulated Depreciation Office Equipment

164

Store Equipment

165

Accumulated Depreciation Store Equipment

166

Camping Rental Equipment

167

Accumulated Depreciation Camping Rental Equipment

168

Building

183

Accumulated Depreciation Building

184

Accounts Payable

201

Interest Payable

203

Salaries Payable

209

Mortgage Note Payable 9%

251

Samuel Stephens, Capital

301

Samuel Stephens, Withdrawals

302

Camping Equipment Rental Revenue

406

Interest Earned

409

Camping Equipment Sales

413

Cost of Goods Sold

502

Depreciation Expense Building

606

Depreciation Expense Office equipment

612

Depreciation Expense Store Equipment

613

Depreciation Expense Camping Rental Equipment

615

Salaries Expense

622

Interest Expense

633

Insurance Expense

637

Office Supplies Expense

650

Stores Supplies Expense

651

Advertising Expense

655

Bad Debt Expense

656

Miscellaneous Expense

677

Telephone Expense

688

Utilities Expense

690

Income Summary

You will not need to add any additional accounts.

Business Paper No. 31

Inter-Office Memo	From Samuel Stephens	Date June 28, 20XX
To Bookkeeper	Subject Cash Disbursements

Prepare your payroll check. Salary for the period ended June 28 is $1,680. Check #535

Business Paper No. 32

Inter-Office Memo	From Samuel Stephens	Date June 30, 20XX
To Bookkeeper	Subject Receipt of notes

Record the receipt of a 60-day, 12% note receivable from Mrs. K. Gragg in settlement of her account receivable.

Business Paper No. 33

Inter-Office Memo	From Samuel Stephens	Date June 30, 20XX
To Bookkeeper	Subject Replenish Petty Cash Fund

Please prepare a check for $95.10 to replenish the petty cash fund for: Check # 536

Petty Cash Voucher #5 Transportation-in $34.00

Petty Cash Voucher #6 Office supplies $42.50

Petty Cash Voucher #7 Store Supplies $18.60

Business Paper No. 34

COLORADO BANK

MEMBER F.D.I.C.

		Coin		6	70
		Currency		3,645	00
		Checks	A. Smith	1,435	00
Industrial Boulevard			S. Peeples	3,055	00
Denver, Colorado 77787
June 30, 20 XX__
		TOTAL		8,141	70

00015613345678009878

Duplicate Deposit Ticket

Bookkeeper: Cost of Cash Sales was $1,432.60.

Business Paper No. 35

Inter-Office Memo	From Samuel Stephens	Date June 30, 20XX
To Bookkeeper	Subject Return of Merchandise to Vendor

Record the return of 1 large tent V-135 to Sampson Distributors for $825.00 Sampsons invoice #S4563, dated June 2, 20XX

Business Paper No. 36

Inter-Office Memo	From Samuel Stephens	Date June 30, 20XX
To Bookkeeper	Subject Reclassification of camping equipment

The 12 rafts purchased on June 28 from Dixon Company (Invoice CD50-95) were sold for cash to a rafting company. Remove the value of the rafts ($576) from Camping Rental Equipment and charge it to the Merchandise Inventory account.

Business Paper No. 37

Inter-Office Memo	From Samuel Stephens	Date June 30, 20XX
To Bookkeeper	Subject Telephone expenses for June

Please make a check payable to Intermountain Telephone for $825 for the telephone expense for June. Check #537

Business Paper No. 38

Inter-Office Memo	From Samuel Stephens	Date June 30, 20XX
To Bookkeeper	Subject Utilities expense for June

Please make a check payable to Rocky Pacific Utility for $600 for the utilities (gas and electric) expense for June.

Check # 538

Business Paper No. 39

Inter-Office Memo	From Samuel Stephens	Date June 30, 20XX
To Bookkeeper	Subject Bank reconciliation

Use the Cash Receipts Journal, Cash Disbursements Journal, and the June bank statement and the bank reconciliation of May 31, 20XX on the following page and prepare the bank reconciliation for June 30, 20XX.

901