Question
Please verify that all June 1 balances are in the ledgers by comparing them to the May 31, 2021 trial balance before posting. There are
Please verify that all June 1 balances are in the ledgers by comparing them to the May 31, 2021 trial balance before posting. There are two tabs in the Excel spreadsheet: Income Statement Accounts and Balance Sheet Accounts. You will need both tabs to post to all the accounts.
Use the given information from the General Journal below to fill in the Ledger for the balance sheet and income statement account sheets through the month of June.
General Journal
Date | Description | Post Ref. | Debit | Credit |
June 3 | Inventory | 116 | 50,400 |
|
| Accounts Payable | 210 |
| 50,400 |
June 6 | Accounts Receivable | 111 | 17,400 |
|
| Sales | 410 |
| 17,400 |
| Costs Of Goods Sold | 510 | 12,000 |
|
| Inventory | 116 |
| 12,000 |
June 8 | Notes Receivable | 114 | 500 |
|
| Bad Debt Expense | 522 |
| 500 |
June 10 | Cash | 104 | 40,000 |
|
| Salaries Payable | 211 |
| 40,000 |
| Cash | 104 | 26,000 |
|
| Office Salaries Expense | 530 |
| 26,000 |
June 12 | Cash | 104 | 48,400 |
|
| Account Payable | 210 |
| 48,400 |
June 15 | Accounts Receivable | 111 | 31,900 |
|
| Sales | 410 |
| 31,900 |
| Cash | 104 | 22,000 |
|
| Inventory | 116 |
| 22,000 |
June 18 | Cash | 104 | 15,400 |
|
| Accounts Receivable | 111 |
| 15,400 |
June 25 | Cash | 104 | 40,000 |
|
| Sales Salaries Expense | 520 |
| 40,000 |
| Cash | 104 | 26,000 |
|
| Office Salaries Expense | 530 |
| 26,000 |
June 30 | Accounts Receivable | 111 | 53,650 |
|
| Sales | 410 |
| 53,650 |
| Costs Of Goods Sold | 510 | 37,000 |
|
| Inventory | 116 |
| 37,000 |
June 30 | Cash | 104 | 1,710 |
|
| Credit Card expense | 525 |
| 1,710 |
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