Reinforcement Activity 2-Part A An Accounting Cycle for a Corporation: Journalizing and Posting Transactions Sage 50 Accounting QB Reinforcement Activity 2 reinforces learning from Part 2 Chapters 9 through 17. Activities cover a complete accounting cycle for a merchandising business organized as a corporation Reinforcement Activity 2 is a single problem divided into two parts. Part A includes learning from Chapters 9 through 13. Part B includes leaming from Chapters 14 through 17. The accounting work of a single merchandising business for the last month of a yearly fiscal period is used in this reinforcement activity. The records kept and reports prepared, however, illustrate the application of accounting concepts for all merchandising businesses Gulf Uniform Supply, Inc. (GUS) Gulf Uniform Supply, Inc. (GUS), a merchandising business, is organized as a corporation. The business sells a complete line of uniforms for a variety of businesses and organizations, including schools, medical offices, and retail stores. GUS is located in an open-area shopping center and is open for business Monday through Saturday. A monthly rent is paid for its store space in the shopping center. GUS accepts AAONLINE nningEdge credit sales for approved customers and credit cards from Individual customers. Chart of Accounts GUS uses the chart of accounts shown on the next page. Journals and Ledgers The journals and ledgers used by GUS are listed below. Models of the journals and ledgers are shown in the textbook chapters indicated. Journal and Ledgers Purchases journal Cash payments journal Accounts payable ledger Sales journal Cash receipts journal Accounts receivable ledger General journal Chapter 9 9 9 and 11 10 10 10 and 11 11