PLEASE USE CHART OF ACCOUNTS WILL RATE CHART OF ACCOUNTS South Coast Heating Air Company General Ledger ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment LIABILITIES 211 Accounts Payable Atlas Co 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary REVENUE 410 Sales 610 Rent Revenue EXPENSES 501 Cost of Merchandise Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense Store Equipment 525 Depreciation Expense Office Equipment 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense Instructions Journalize entries for the following related transactions of South Coast Heating Air Company Refer to the Chart of Accounts for exact wording of account titles Mar 1 Purchased $53,100 of merchandise from Atlas Co on account, terms 1 10, n 30 9 Paid the amount owed on the invoice within the discount period 11 Discovered that $7,100 of the merchandise purchased on Mar 1 was defective and returned items, receiving credit 18 Purchased $5,900 of merchandise from Atlas Co on account, terms n 30 20 Received a refund from Atlas Co for return on Mar 11 less the purchase on Mar 18

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PLEASE USE CHART OF ACCOUNTS!!!!! WILL RATE!!!! CHART OF ACCOUNTS South Coast Heating & Air Company General Ledger ASSETS 110 Cash 120 Accounts Receivable 125

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PLEASE USE CHART OF ACCOUNTS!!!!! WILL RATE!!!!

CHART OF ACCOUNTS

South Coast Heating & Air Company

General Ledger

	ASSETS
110	Cash
120	Accounts Receivable
125	Notes Receivable
130	Merchandise Inventory
140	Office Supplies
141	Store Supplies
142	Prepaid Insurance
180	Land
192	Store Equipment
193	Accumulated Depreciation-Store Equipment
194	Office Equipment
195	Accumulated Depreciation-Office Equipment

	LIABILITIES
211	Accounts Payable-Atlas Co.
218	Sales Tax Payable
219	Customer Refunds Payable
220	Unearned Rent
221	Notes Payable

	EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends
313	Income Summary

	REVENUE
410	Sales
610	Rent Revenue

	EXPENSES
501	Cost of Merchandise Sold
521	Delivery Expense
522	Advertising Expense
524	Depreciation Expense-Store Equipment
525	Depreciation Expense-Office Equipment
531	Rent Expense
533	Insurance Expense
534	Store Supplies Expense
535	Office Supplies Expense
536	Credit Card Expense
539	Miscellaneous Expense
710	Interest Expense

Instructions Journalize entries for the following related transactions of South Coast Heating & Air Company. Refer to the Chart of Accounts for exact wording of account titles. Mar. 1 Purchased $53,100 of merchandise from Atlas Co. on account, terms 1/10, n/30. 9 Paid the amount owed on the invoice within the discount period 11 Discovered that $7,100 of the merchandise purchased on Mar. 1 was defective and returned items, receiving credit. 18 Purchased $5,900 of merchandise from Atlas Co. on account, terms n/30. 20 Received a refund from Atlas Co. for return on Mar. 11 less the purchase on Mar. 18