post transactions frim the general journal to the general ledger for october Fashion rock
I need to transfer all the october transactions of A Fashion Rock from the general joyrnal to the general ledger
NTRODUCTION The Fashion Rack has a monthly accounting period. All transactions are recorded in a general journal. Postings are made from the general journal to the occounts recelvable ledget, accounts payable ledget, and general ledget. The employees are paid at the end of he month. A computerized payroll service prepares all payroll records and checks. Date transactions lear. I Issued Check 6e1 for 54,430 to pay Propertles Managenent, Inc., the nonthly rent. 1 Signed a three-month radio advertising contract with Cable Station kTLE for 55,10e; issued Check s02 to pay the full anount. In advance. 2 Recelved ssae from Megan Greening, a credit custoner, in poynent of mer account. 2 Issued Check 6a1 for $17, B2e to renit the sales tax owed for July through Septenber to the state Tax Comission. 2 Issued Check 6e4 for 57,673, 4e to A Fashion Stitenent, a creditor, in payment of Iovolce 9387 (57, 83e), less a cash discount ($156.60). 3 Sold merchandise on credit for 52,460 plus sales tax of $124 to Mariae 5al1b, Sales 51ip 241. 4 Isrued check 695 for 31 , es5e to brx supply co. for supplies. 4 Issued Check 696 for 58,594,6e to Unlque Stylec, a credltor, in poyment of Inveice 5671 (58, 776), less a cash discount ($175,40). 5 collected $1,760,60 on account from Any Trinh, a credit customer. 5 Accepted a return of nerchandise fron Marian Sslib. The merchandise was originally woid on Sales 51ip 241, dated october 3 . issued Credit Menorandun 18 for 5630 , which includes sales tax of $30. 5 Issued check 6e? for 51,666 to classy Threads, a creditor, in paysent of livolce 3292 (\$1, 7e0), less a cash discount (\$34). 6 Had cash sales of $18,60ol ples sales tax of 593 daring october 1-6. 8 Received a check fron Janes Heleer, a credit custooer, for 5832 to phy the balance he owes. 8 Issued Check 6es foe \$1,384 to deposit social security tax (\$7e2), Medicare tax (\$162), and federal incone tax withholeine (\$1,e20) from the Septenber payroll. 9 Sold merchandise on credit for \$2, Ose plus sales tax of \$1e2, 50 to Enra Maldonado, Sales 51ip 242. 10 Issued check 669 for $1,525 to pay The bally heis for a newsaper advertisesent that appeared in october. 11 Purchased merchandise for 54,820 fron A Fashion statenent, Invoice 9422 , dated october B; the teres are 2/1e, n/3e. 12 Issued check 610 for $395 to pay frelght charges to Ace Frelght Company, the truckine conpany that delivered nerchandise from A Fashion Statement on September 27 and october 11. 13 Hod cash sales of $13,260 plus sales tax of sect dorinc october b-13. 15 Sold merchandise on credit for 51,940 plus sales tax of 397 to Janes Helmer, Sales 5115 243. 16 Purchased discontinued nerchandise from Acre Jobbers; pold for it fmediately with Check 611 for: 55,120 . 16 Received $510 on account froe Marian Salib, a credit custoner. 16 Issued check 612 for 54,723.69 to A Fashion Statesent, a creditor, in paysent of Irvotce 9422 (54,62e.6e), less cash disceunt ($96,40). 18 Issued Check 613 for 57,460 to Teresa Lojay as a withdrimal for persenal use. 20 Had cash sales of 113 , 500 plus sales tax of 5675 during October 15-20. 22 Issued check 614 to city utillties for $1,492 to pay the monthly electrit b111. 24 Sold merchandise on credit for s820 plun sales tax of s41 to Nozan Greening. Sales 511p 244. 25 purchased merchandise for \$3, SBa fron Classy Threads, Involce 3418, dated october 23; the terns are 2/1e, n/3e. 26 Issoed Check 615 to Recional Telephone for s9se to ouy the monthly telephone blil. 27 lad cash asles of 314,240 plas sales tax of 5712 during october 22-27, 29 Received Credit menorandun a7s for 1430 fron classy threads for defective goods that were returned. The original purchase was recorded on october 25 . 29 5old merchandise on credit for $3,450 plus wales tak of $172,50 te Any. Trimb, Sales 51ip .245. 29 Hecorded the octeber payroll. The records prepared by the payroll service whow the folloulng totals: earnings, sit, Bo0: social security, S7o2.e0; Medicare, S162.ee;; incoee tak, \$1, e2e; wnd net pay, 56,\$16. The excess withheldings corrected an error made in withholdings in September. 29 Aeconded the enoloyer's payroll taves, witch were calculated by the payroll service: social security. s7e2; Medicare, \$162! federal unemplognent tax, S116; and state uneoploynest tax, 5se4, This, too, reflects an understatenent of taxes recorded in septesber and corrected in thal nonth. 3e Purchased serchandise for 14, 06e from undeue styles. Invoice s621, dated october 26: the terns are 1/39, n/3e. 31 Isuod checks 616 through 619 , totaline 58,916,00, to eaployees to pay octeber payro11. I1 Issued Check 62e for 3525 to as 3andteri for october foniterlal services. 31 had cash salei of 11, Bee plus sales tax of s9e for october 29-11. a93stuents 31 During October, the fire had net credit sales of 510, 140. Fron enoerience with sinilar businesses, the previous accountant had eitinated that 1.e percent of the firm's net credit sales mould result in oncollectible accounts. Record an adjustment for the expected loss fron uncollectible accounts fon the sonth of october. 31 on october 31, an Inventory of the supplies showed that itees costine 52 , 740 were on hand, Record an adjustnent for the supplies uned in october. 31on Septesber 30. 2001, the fin purchased a six-sonth Insurance policy for 18,400 . Hecord an adjustaent for the axired insurance for october. 31 On october 1, 260. the firm signed a three-ponth adrertising contract for 55, ano wh a local cable television atation and paid the full amount in advance. Hiecord on adfusthet for the expired advertising for october. 31 On April 1, 20x1, the fire purchased equipeent for 383,000 . The equipnent was estinated to have a useful life of five years and a salvage value of \$12, sas. Aecord an adfusttent for depreciation on the equipent for october. 31 lased on a physical count, endine serchandise inventory was detereined to be 882,260 . Required: Part 1 Rest the indviduat entries troan the general jeurnil to the general ledger. NTRODUCTION The Fashion Rack has a monthly accounting period. All transactions are recorded in a general journal. Postings are made from the general journal to the occounts recelvable ledget, accounts payable ledget, and general ledget. The employees are paid at the end of he month. A computerized payroll service prepares all payroll records and checks. Date transactions lear. I Issued Check 6e1 for 54,430 to pay Propertles Managenent, Inc., the nonthly rent. 1 Signed a three-month radio advertising contract with Cable Station kTLE for 55,10e; issued Check s02 to pay the full anount. In advance. 2 Recelved ssae from Megan Greening, a credit custoner, in poynent of mer account. 2 Issued Check 6a1 for $17, B2e to renit the sales tax owed for July through Septenber to the state Tax Comission. 2 Issued Check 6e4 for 57,673, 4e to A Fashion Stitenent, a creditor, in payment of Iovolce 9387 (57, 83e), less a cash discount ($156.60). 3 Sold merchandise on credit for 52,460 plus sales tax of $124 to Mariae 5al1b, Sales 51ip 241. 4 Isrued check 695 for 31 , es5e to brx supply co. for supplies. 4 Issued Check 696 for 58,594,6e to Unlque Stylec, a credltor, in poyment of Inveice 5671 (58, 776), less a cash discount ($175,40). 5 collected $1,760,60 on account from Any Trinh, a credit customer. 5 Accepted a return of nerchandise fron Marian Sslib. The merchandise was originally woid on Sales 51ip 241, dated october 3 . issued Credit Menorandun 18 for 5630 , which includes sales tax of $30. 5 Issued check 6e? for 51,666 to classy Threads, a creditor, in paysent of livolce 3292 (\$1, 7e0), less a cash discount (\$34). 6 Had cash sales of $18,60ol ples sales tax of 593 daring october 1-6. 8 Received a check fron Janes Heleer, a credit custooer, for 5832 to phy the balance he owes. 8 Issued Check 6es foe \$1,384 to deposit social security tax (\$7e2), Medicare tax (\$162), and federal incone tax withholeine (\$1,e20) from the Septenber payroll. 9 Sold merchandise on credit for \$2, Ose plus sales tax of \$1e2, 50 to Enra Maldonado, Sales 51ip 242. 10 Issued check 669 for $1,525 to pay The bally heis for a newsaper advertisesent that appeared in october. 11 Purchased merchandise for 54,820 fron A Fashion statenent, Invoice 9422 , dated october B; the teres are 2/1e, n/3e. 12 Issued check 610 for $395 to pay frelght charges to Ace Frelght Company, the truckine conpany that delivered nerchandise from A Fashion Statement on September 27 and october 11. 13 Hod cash sales of $13,260 plus sales tax of sect dorinc october b-13. 15 Sold merchandise on credit for 51,940 plus sales tax of 397 to Janes Helmer, Sales 5115 243. 16 Purchased discontinued nerchandise from Acre Jobbers; pold for it fmediately with Check 611 for: 55,120 . 16 Received $510 on account froe Marian Salib, a credit custoner. 16 Issued check 612 for 54,723.69 to A Fashion Statesent, a creditor, in paysent of Irvotce 9422 (54,62e.6e), less cash disceunt ($96,40). 18 Issued Check 613 for 57,460 to Teresa Lojay as a withdrimal for persenal use. 20 Had cash sales of 113 , 500 plus sales tax of 5675 during October 15-20. 22 Issued check 614 to city utillties for $1,492 to pay the monthly electrit b111. 24 Sold merchandise on credit for s820 plun sales tax of s41 to Nozan Greening. Sales 511p 244. 25 purchased merchandise for \$3, SBa fron Classy Threads, Involce 3418, dated october 23; the terns are 2/1e, n/3e. 26 Issoed Check 615 to Recional Telephone for s9se to ouy the monthly telephone blil. 27 lad cash asles of 314,240 plas sales tax of 5712 during october 22-27, 29 Received Credit menorandun a7s for 1430 fron classy threads for defective goods that were returned. The original purchase was recorded on october 25 . 29 5old merchandise on credit for $3,450 plus wales tak of $172,50 te Any. Trimb, Sales 51ip .245. 29 Hecorded the octeber payroll. The records prepared by the payroll service whow the folloulng totals: earnings, sit, Bo0: social security, S7o2.e0; Medicare, S162.ee;; incoee tak, \$1, e2e; wnd net pay, 56,\$16. The excess withheldings corrected an error made in withholdings in September. 29 Aeconded the enoloyer's payroll taves, witch were calculated by the payroll service: social security. s7e2; Medicare, \$162! federal unemplognent tax, S116; and state uneoploynest tax, 5se4, This, too, reflects an understatenent of taxes recorded in septesber and corrected in thal nonth. 3e Purchased serchandise for 14, 06e from undeue styles. Invoice s621, dated october 26: the terns are 1/39, n/3e. 31 Isuod checks 616 through 619 , totaline 58,916,00, to eaployees to pay octeber payro11. I1 Issued Check 62e for 3525 to as 3andteri for october foniterlal services. 31 had cash salei of 11, Bee plus sales tax of s9e for october 29-11. a93stuents 31 During October, the fire had net credit sales of 510, 140. Fron enoerience with sinilar businesses, the previous accountant had eitinated that 1.e percent of the firm's net credit sales mould result in oncollectible accounts. Record an adjustment for the expected loss fron uncollectible accounts fon the sonth of october. 31 on october 31, an Inventory of the supplies showed that itees costine 52 , 740 were on hand, Record an adjustnent for the supplies uned in october. 31on Septesber 30. 2001, the fin purchased a six-sonth Insurance policy for 18,400 . Hecord an adjustaent for the axired insurance for october. 31 On october 1, 260. the firm signed a three-ponth adrertising contract for 55, ano wh a local cable television atation and paid the full amount in advance. Hiecord on adfusthet for the expired advertising for october. 31 On April 1, 20x1, the fire purchased equipeent for 383,000 . The equipnent was estinated to have a useful life of five years and a salvage value of \$12, sas. Aecord an adfusttent for depreciation on the equipent for october. 31 lased on a physical count, endine serchandise inventory was detereined to be 882,260 . Required: Part 1 Rest the indviduat entries troan the general jeurnil to the general ledger
