Selected transactions completed by Ester Company during December of the current year and January of the following year are listed below.

Directions:

1. Journalize the following transactions. The journal and ledgers accounts are shown on pages 117-120 of this test. Source documents are abbreviated as follows: check, C; memorandum, M; debit memorandum, DM; credit memorandum, CM.

Transactions

Dec. 3. Granted credit to Jennifers Deli for damaged merchandise, $149.00, plus sales tax, $8.94, from S478; total $157.94. CM48

8. Bought office supplies on account from Kressman Supply, $323.00. M235

13. Learned that on sales on account Riverside Cafe was incorrectly charged to the amount of Ribs Shack, $875.00. CM49.

15. The board of directors declared a dividend of $0.40 per share; capital stock issued is 10,000 shares. M237.

22. Returned merchandise to Glade Distributors, $525.00. DM73.

23. Granted Credit to C&C Catering for Merchandise returned, $289.00, Plus sales Tax, $17.34, from S480; total, $306.34. CM49.

Jan. 15. Paid cash for Dividend declared December 15. C781.

2. Post each journal entry to the appropriate subsidiary ledger and the general ledger.

3. Post the transaction in the general debit column of the cash payments journal.