Sanchez Computer Center

-To assist you in recording these transactions for the month of January, at the end of this problem is the schedule of accounts receivable as of December 31 and an updated chart of accounts with the current balance listed for each account.

1. Journalize the transaction

2. Record in the accounts receivable subsidiary ledger and post to the general ledger as appropriate. A partial subsidiary ledger is included in the working papers that accompany this text.

3. The following accounts have been added to the chart of accounts: Sales # 4010, Sales Returns and Allowances #4020 and Sales Discounts #4030

4. Preparea schedule of accounts receivable as of January 31, 201X.

The January transactions are as follows:

SANCHEZ COMPUTER CENTER Tassist you in recording these transactions for the month of January at the end of This problem is the schedule of accounts receivable as of December 31 and an updated chart of accounts with the current balance listed for each account Assignment 1. Journaline the transactions 2. Record in the accounts receivable subsidiary ledger and post to the general ledgers appropriate. A partial subsidiary ledgers included in the working papers that accompany this text. CHAPTER Sales and Cash Recipe 365 3. The following accounts have been added to the chart of account Sales 4010, Sales Returns and Allowances 64020, and Sales Discounts 4030 Prepare a schedule of accounts receivable as of January 31, 2017 The January transactions are as follows 1 Sold 700 with methand to Try Gallon 1000m 2/7/30 10 S5.000 worth chandise on the tale ses 3001 Terms 2/16.30 11 med 3,000 from Attest. Ine.dement of its bendunt 12 Collected $2.000 cash Sold 54.000 worth of mechandise on account to Vita Medie, sal invoice no. 5000: terms 4/10, 1/30 20 Collected in the 501, Anthony Male >> teed odit mendon to Sayit Golf foret mechanine time >> Collected set hon Vita Needit. Intere. 5000 Schedule of Recounts Receivable Sanches Computer Center December 31, 2014 $ 2.900.00 6.100.00 2.000.00 Total Amount Due 38.600.00 300 Chart et Accounts and Current Balance as of 12/31/1X Account Account Name Debitele Credit Bulace 1000 Cache SU 100 2020 Accortevable 300 Pepe 0 SD 300 op Shop 3.00 101 med. S. qui Office 101 offee 20 2000 Recent Pry 2010 2020 FRA-Sock Security Pytle 2030 - Medicare Payable 2040 2050 SIT Payable 200 PULA Payable 2000 SUTA Payale 3000 Free Capital 3000 Penn, who Page 31 / 32 Credit Balance 0 18,500 Account # 3020 4000 4010 4020 4030 5010 5020 0 0 0 5030 150 5040 5050 5060 Chart of Accounts and Current Balances as of 12/31/1X Account Name Debit Balance Income Summary Service Revenue Sales Sales Returns and Allowances Sales Discounts Advertising Expense Rent Expense 0 Utilities Expense 0 Phone Expense Supplies Expense 42 Insurance Expense Postage Expense 25 Dep. Exp..C.S. Equipment Dep. Exp.. Office Equipment Miscellaneous Expense 10 Wage Expense 2,030 Payroll Tax Expense 226.36 Interest Expense Bad Debt Expense Purchases Purchases Returns and Allowances Purchases Discounts Freight in 0 0 0 5070 5080 5090 5100 5110 5120 5130 5140 6000 6010 6020 6030 0 0 SANCHEZ COMPUTER CENTER To assist you in recording these transactions for the month of January at the end of this problem is the schedule of accounts receivables of December 31 and an updated chart of accounts with the current bulance listed for each account Assignment 1. Journalize the transactions 2. Record in the accounts receivable subsidiary ledger and post to the meal ledgers appropriate. A partial day lodger is included in the working papers that accompany this text. CHAPTER Sinash 365 3. The following accounts have been added to the chart of accounts Sales 4010, Sales Returns and Allowance 14020, and Sales Discounts 14030 4. Prepare a schedule of acomnts receivable as of January 31, 201X. The January transactions are as follows Jan. Sold 5700 worth of merchandise Taylor Geltonovdit, les inice no. 000 m 2/10,30 10 Sold 51,000 worth of characteriale. Soot: terms 7/10/30 11 Received $1.000 tona, Inc. tad tot w 12 Collect.000 Sol 4,000 with a scheda tee 5002 4/10/30 20 Collected balance in full freire. $1 thony tud credit mentandum ta faylor Golf for worth of merchandise returned in no 5000 Collected full payments Vita Medit, inwiders, 500 Schedule of Accounts Receivable Sanches Computer Centar December 31, 2017 Taylor Golf Vita 00.00 AP 11.00 Chart of Accounts and Current Balance as of 12/31/13 kreut #Awat Nam Debit Credit Batan 1000 Cash 1010 Potty Cath 100 1020 Accounts 2.600 1000 Supplies 90 1046 caninary 0 100 Computer Shop 100 1081 Accumulated Dep.S.fovi 2010 Office for 100 101 Amated Dep. Office Love 20 2006 console 2010 ago 0 2020 FI--Social Security Payable 0 --Medicare Payable 2040 FIT Payable 0 2010 SIT 2040 FUTA 0 2000 SUTA 3000 Fanthar, 1,400 Wildl 2095 ro 0 3020 Credit Balance 0 18,500 0 0 0 0 150 42 Chart of Accounts and Current Balances as of 12/31/1X Account # Account Name Debit Balance Income Summary 4000 Service Revenue 4010 Sales 4020 Sales Returns and Allowances 4030 Sales Discounts 5010 Advertising Expense 5020 Rent Expense 5030 Utilities Expense 0 5040 Phone Expense 5050 Supplies Expense 5060 Insurance Expense Postage Expense 25 5080 Dep. Exp., C.S. Equipment 0 5090 Dep. Exp., Office Equipment 5100 Miscellaneous Expense 10 5110 Wage Expense 2,030 5120 Payroll Tax Expense 226.36 5130 Interest Expense 5140 Bad Debt Expense 6000 Purchases 6010 Purchases Returns and Allowances 6020 Purchases Discounts 6030 Freight In 0 5070 0 0 0 0 Jan. 1 en 10 11 12 Sold $700 worth of merchandise to Taylor Golf on credit, sales invoice no. 5000; terms 2/10, n 30. Sold $3,000 worth of merchandise on account to Anthony Pitale, sales invoice no. 5001; terms 2/10, n/30. Received $3,000 from Accu Pac, Inc., toward payment of its balance; no discount allowed. Collected $2,000 cash sales. Sold $4,000 worth of merchandise on account to Vita Needle, sales invoice no. 5002: terms 4/10, n/30. Collected balance in full from invoice no. 5001, Anthony Pitale. Issued credit memorandum to Taylor Golf for $400 worth of merchandise returned, invoice no. 5000. Collected full payment from Vita Needle, invoice no. 5002. 19 20 29 29 Schedule of Accounts Receivable Sanchez Computer Center December 31, 201X Taylor Golf $ 2,900.00 Vita Needle 6,800.00 Accu Pac 3,900.00 Total Amount Due $13,500.00 Chart of Accounts and Currender Account # Credit Balance 1000 1010 1020 1025 1030 1040 1080 1081 $ 99 1090 Chart of Accounts and Current Balances as of 12/31/1X Account Name Debit Balance Cash $ 3,336.64 Petty Cash 100 Accounts Receivable 13,600 Prepaid Rent 1,600 Supplies 90 Merchandise Inventory 0 Computer Shop Equipment 3,800 Accumulated Dep., C.S. Equip. Office Equipment 1,050 Accumulated Dep., Office Equip. Accounts Payable Wages Payable FICA-Social Security Payable FICA--Medicare Payable FIT Payable SIT Payable FUTA Payable SUTA Payable Freedman, Capital Freedman, Withdrawals 2,015 1091 2000 20 2,050 2010 2020 0 0 2030 OOO 2040 2050 2060 2070 3000 0 0 7,406 3010 (continued) Credit Balance Account # 3020 0 4000 18,500 0 4010 4020 4030 5010 5020 5030 0 5040 5050 Chart of Accounts and Current Balances as of 12/31/1X Account Name Debit Balance Income Summary Service Revenue Sales Sales Returns and Allowances Sales Discounts Advertising Expense Rent Expense Utilities Expense 0 Phone Expense 150 Supplies Expense 42 Insurance Expense 0 Postage Expense 25 Dep. Exp., C.S. Equipment Dep. Exp., Office Equipment 0 Miscellaneous Expense Wage Expense 2,030 Payroll Tax Expense 226.36 Interest Expense 0 Bad Debt Expense Io Purchases 0 Purchases Returns and Allowances Purchases Discounts Freight In 5060 5070 5080 0 5090 5100 10 5110 5120 5130 5140 6000 6010 0 5020 0 6030