Please zoom in to see details & values. (I'm also not sure if the answers are right in the first portion.)
Assume Barton Springs Glass Company uses the perpetual inventory system. The general ledger of Barton Springs Glass Company includes the following selected accounts, along with their account numbers: (Click on the icon to view the accounts.) Sales and cash receipts transactions in July were as follows: i(Click on the icon to view the transactions.) Read the requirements. Requirement 1, 2, and 3. Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column) and a cash receipts journal (omit the Sales Discounts Forfeited column). Total each column of the sales journal and the cash receipts journal. Show that total debits equal total credits. Show how postings would be made by entering the account numbers and check marks in the appropriate places in the joumals. Begin with the sales journal. Enter the transactions and total the joumal. (Assume all postings are made to the applicable ledgers. If a box is not used in the journal leave the box empty; do not select information and do not enter a zero.) i More Info X Invoice Customer Post. Accounts Receivable DR Cost of Goods Sold DR i Data Table Date No. Account Debited Rel. Sales Revenue CR Merchandise Inventory CR Jul. 2 Sold merchandise inventory on credit, terms n/30, to Ishmate, Inc., $1,800 (cost, $400). Ju Ishmate, Inc. 1800 40D Number Account Number Account Jul. 3 Sold office supplies to an employee at cost, $65, receiving cash. A. C. Malloy 7300 5100 11 Cash 18 Equipment Jul. 7 Cash sales for the week totaled $1,700 (cost, $1,640). Super Electric 5900 3450 12 Accounts Receivable Land Jul. 9 Sold merchandise inventory on account, terms rv/30, to A. C. Malloy, $7,300 (cost. Wilke & Blinn 3100 2260 $5,100). 13 Notes Receivable 41 Sales Revenue Jul. 10 Sold land that cost $14,000 for cash of the same amount. Super Electric 650 15 Merchandise Inventory Cost of Goods Sold Jul. 11 Sold merchandise inventory on account, terms r/30, to Super Electric, $5,900 (cost. Ogarth. Co. 1560 1020 16 Office Supplies $3,450). R. D. Bart 270 160 Jul. 12 Received cash from Ishmate in full settlement of its account receivable from July 2. Print Done Jul. 14 Cash sales for the week were $2,500 (cost, $1.650). Jul. 15 Sold merchandise inventory on credit, terms n/30, to the partnership of Wilke & Blinn. $3,100 (cost, $2,260). Jul. 20 Sold merchandise inventory on account, terms rv/30, to Super Electric, $650 (cost, $450). Jul. 21 Cash sales for the week were $930 (cost, $600). 31 Totals 20580 20580 Jul. 22 Received $4,900 cash from A. C. Malloy in partial settlement of his account receivable. Jul. 25 Received cash from Wilke & Blinn for its account receivable from July 15. Jul. 25 Show how total debits equal total credits. Sold merchandise inventory on account, terms rv/30, to Ogarth, Co., $1,560 (cost. $1,020) Total debits Total credits Jul. 27 Collected $5,300 on a note receivable. There was no interest earned. Sales journal 29430 29430 Jul. 28 Cash sales for the week totaled $3,720 (cost, $2,480). Jul. 29 Sold merchandise inventory on account, terms rv/30, to R. D. Bart, $270 (cost, $160). Record the appropriate transactions in the cash receipts journal. (If a box is not used in the journal leave the box empty: do not select information and do not enter a zero. Select "%" if the column total is not posted. Abbrev ons used: Rec. = Re Jul. 31 Received $1,400 cash on account from A. C. Malloy. Cash Re Post Accounts Sales Other Cost of Goods Sold DR Date Account Credited Ref. Cash DR Rec. CR Rev. CR Accts CR Merchandise Inv. CR Print Done JuL Choose from any list or enter any number in the input fields and then continue to the next question. 2
