Student ID: 987654321

Dec 1 Sold merchandise on account to Toys R We, sales amount $1,654, sales invoice #895. Note: Record this transaction in the General Journal and immediately post it to the General Ledger (accounts 130 and 400), AND post it to the Accounts Receivable Subsidiary Ledger (Subsidiary account number 415). Dec 2 Purchased merchandise on account from Cruz Co., invoice price $4,216, terms net 30. Note: Record this entry in the General Journal and immediately post it to the General Ledger, AND Accounts Payable Subsidiary Ledger (Subsidiary account number 254). Terms net 30 is also shown in the Accounts Payable Subsidiary Ledger, see Cruz Co. account. Dec 2 Issued a credit memo to Fast on Wheels Store for sales merchandise returned, return amount $284. This merchandise was originally sold on 11/15/18, on sales invoice #889. Note: Record this transaction in the General Journal and immediately post it to the Accounts Receivable Subsidiary Ledger (Subsidiary account number 407) AND to accounts 401 and 130 in the General Ledger. Dec 2 Issued check #596 to American Bicycle Store in payment of 11/10/18 purchase. Note: The terms of this vendor are 1/15, net 30 (see American Bicycle Store account in the Accounts Payable Subsidiary Ledger). Since the payment was made after 15 days, we do not record any purchase discount. This transaction is recorded in the General Journal and immediately posted to the Accounts Payable Subsidiary Ledger. Also post this to the General Ledger. Dec 3 Received payment from Eds Bike Shop for the 11/28/18 sales invoice #892. Note: All credit sale terms are 2/20, net 30 (see page 2 in GIAF Case Introduction). Invoice #892 was paid within 20 days. Therefore, the customer can take a 2% discount (14,006 x 2% = $280). All discounts should be rounded to the nearest dollar. Record this transaction in the General Journal, and post it immediately to the Accounts Receivable Subsidiary Ledger, AND post it to the General Ledger. Dec 3 Check #597 is voided because of a typing error. Note: When a check is voided, VOID should be marked on the face of the check. The signature portion should be torn off and destroyed. The check is recorded in the General Journal as VOID (no journal entry) and then filed with the cancelled checks. Dec 3 Sales invoice #896 is voided because of a typing error. Note: When an invoice is voided, VOID should be marked on the face of the invoice. The invoice is recorded in the General Journal as VOID (no journal entry) and then filed with other sales invoices in numerical order. Dec 3 Prepared a debit memo to Gears Supply Store for merchandise returned in the amount of $362. This merchandise was originally purchased on 11/30/18. Note: Record this transaction in the General Journal. Immediately post it to the Accounts Payable Subsidiary Ledger and to General Ledger accounts 200 and 501. Dec 3 Issued check #598 to the 4th National Bank, which acts as the trustee for the payroll account, in payment of November salaries and wages, $16,403. Note: Record this transaction in the General Journal. Immediately post to the General Ledger account 250.

Dec 4 Purchased merchandise on account from Sports and Recreational Supplies Co. Terms is 2/15, net 30 and the invoice price is the last four digit of your Student ID number (e.g., if the last four digit of your Student ID number is 1234, the invoice price is $1,234. If the last four digit of your Student ID number is 0987, the invoice price is $987.) Dec 5 Received payment from Freestyle Company for the 11/21/18 sales invoice #888. (Hint: when you look in the A/R subsidiary ledger to find out the amount of the payment, make sure to look to see if Freestyle company returned any of the goods invoiced on #888. If they did return any goods, the amount of the A/R would be the original invoiced amount minus the returned goods. Make sure to check for this on future transactions. Also, remember that sales on credit are given terms 2/20, Net 30 (see page 2 in GIAF Case Introduction). You need to determine if payments should be net of a discount). Dec 5 Issued check #599 to Bike Parts Co in payment of 11/26/18 purchase. (Hint: Look in the A/P subsidiary ledger to the left of the name of the company to find the subsidiary account number. Also, look in the A/P subsidiary ledger to find the 11/26 purchase and the amount. DONT FORGET to check whether GIAF gets a purchase discount for paying within the discount window. You can find the terms in the A/P subsidiary ledger below each companys name. Remember to do this for each purchase). Dec 6 Sold merchandise on account to The Sports Store. Sales invoice number is #897 and the invoice price is the fifth to ninth digit of your Student ID number (e.g., if the fifth to ninth digit of your Student ID number is 18843, the invoice price is $18,843). Dec 7 Issued a credit memo to The Sports Store for sales merchandise returned, $150. This merchandise was originally sold on 12/6/18, on sales invoice #897. Dec 7 Sold merchandise on account to Eds Bike Shop, $15,239, sales invoice #898. Dec 7 Received payment from Kent Recreation for the 11/28/18 sales invoice #891. (Hint: remember that sales on credit are given terms 2/20, Net 30. You need to determine if payments should be net of a discount. Subsidiary account numbers can be found in the A/R subsidiary ledger. Remember to check for this for all payments received). Dec 8 Issued check #600 to Gears Supply Store in payment of 11/30/18 purchase. (Hint: when you look in the A/P subsidiary ledger to find out the amount for this payment, notice that GIAF returned some of the merchandise originally purchased on 11/30. So the A/P recorded in the payment journal should be the original amount less the returned amount. Make sure to look for this in future transactions). Dec 9 Sold merchandise on account to Target, $8,797, sales invoice #899. Dec 10 Prepared a debit memo to Cruz Co. for merchandise returned in the amount of $616. This merchandise was originally purchased on 12/2/18. Dec 11 Received payment from Target for the 12/9/18 sales invoice #899. Dec 11 Purchased merchandise on account from Bike Parts Co. Invoice price $12,674, terms 2/15, net 30. Dec 12 Issued check #601 to Cruz Co. in payment of 12/2/18 purchase. Dec 12 Prepared a debit memo to Sports and Recreational Supplies Co., for merchandise returned in the amount of $139. This merchandise was originally purchased on 12/4/18. Dec 12 Received payment from The Sports Store for the 11/30/18 sales invoice #894. Dec 13 Issued check #602 to Fix Um Fast in payment of 11/20/18 purchase. Dec 13 Issued a credit memo to Eds Bike Shop for sales merchandise returned, $721. This merchandise was originally sold on 12/7/18, on sales invoice #898. Dec 13 Issued check #603 to Overdale Trucking Company for freight charges of $599 on the 12/4/18 purchase from Sports and Recreational Supplies Co. Dec 14 Issued check #604 to The Water Street Journal in payment of 11/30/18 invoice. Dec 14 Received payment from Huffy Store for the 10/5/18 sales invoice #877. Dec 15 Issued check #605 to Teamsters Local #444, in payment of union dues withheld from November salaries and wages, $151. Dec 15 Issued check #606 to U S Treasury, in payment of FICA tax withheld from November salaries and wages as well as the employers portion of FICA taxes for November salaries and wages, $5,284. Dec 15 Issued check #607 to U S Treasury, in payment of federal income tax withheld from November salaries and wages, $3,418. Dec 15 Issued check #608 to the State of Ohio, in payment of state unemployment taxes on November salaries and wages, $814. Dec 16 Received payment from Toys R We for the 12/1/18 sales invoice #895. Dec 16 Sold merchandise on account to Schwinn, $9,546, sales invoice #900. Dec 17 Purchased merchandise on account from American Bicycle Store, invoice price $5,817, terms 1/15, net 30. Dec 17 Prepared a debit memo to Bike Parts Co. for merchandise returned in the amount of $1,025. This merchandise was originally purchased on 12/11/18. Dec 19 Purchased 600 shares of Goodyear Co. Common Stock for $25 per share and issued check #609 in payment to Faithful Investments. The company has determined that the investment should be classified as available for sale. (Hint: debit an investment account. Use the chart of accounts to figure out which account this is, and dont use common stock). Dec 21 Check #610 is voided because of a typing error. Dec 22 Received payment from Fast on Wheels Store for the 11/15/18 sales invoice #889. Dec 22 Issued a credit memo to Schwinn for sales merchandise returned, $440. This merchandise was originally sold on 12/16/18, on sales invoice #900. Dec 23 Issued check #611 in the amount of $3,700 to FlashCity Office Supplies for store supplies. (Hint: Use the chart of accounts to figure out which account should be used; dont use the Purchases account). Dec 23 Purchased merchandise on account from Gear Supply Store. Invoice price $19,463, term 2/15, net 30. Dec 26 Issued check #612 to Allbrite Electric Company for $2,650 for electricity use during the period 12/1/18 12/25/18. Dec 28 Sold merchandise on account to Free Style Company, $22,651 sales invoice #901. Dec 29 The October 8 account receivable from Specialized Bike (invoice #878) was determined to be uncollectible and was written off. (Hint: use Allowance for Doubtful Accounts and A/R for this entry). Dec 30 Issued check #613 to R B Smith Insurance Company in payment for a 6-month liability insurance policy (1/1/19 6/30/19) for $1,800. Dec 31 Received an invoice from Jackson Machinery Co. for the purchase of a new delivery truck, invoice amount $29,630, terms net 30. No salvage value was estimated on this truck. Dec 31 The following are the total sales by cash for December. Record the monthly totals of the cash sales and returns in the General Journal. Cash sales $32,734 Sales returns (3,160) Net cash receipts $29,574

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER 406 ED'S BIKE SHOP Date Description 2018) CREDIT LIMIT: $250,000 Debit Credit Balance Ref 28-Nov #892 GJ11 14.006 14,006 3-Dec cash receipt for invoice #892 GJ12 14,006 0 407 FAST ON WHEELS STORE Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 15-Nov #889 GJ11 4,066 4,066 2-Dec Return--Invoice #889 GJ12 284 3,782 408 FREE STYLE COMPANY Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 12,556 21-Nov #888 28-Novi Return--Invoice #888 GJ11 GJ11 12,556 11,713 843 409 HUFFY STORE Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 5-Jul #851 5-Oct #877 5-Nov #886 GJ7 GJ10 GJ11 934 2,587) 6,014) 934 3,521 9,535 410 KENT RECREATION Date Description 2018 CREDIT LIMIT: $250,000 Ref Debit Credit Balance 15-Jul#855 20-Sepl#872 28-Nov #891 GJ7 GJ8 GJ11 1,044 3,0891 4.563| 1,044 4,133 8,696 411 SCHWINN STORE Date Description 2018 CREDIT LIMIT: $250,000 Ref Debit Credit Balance 412 SPECIALIZED BIKES, INC. Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 8-Oct|#878 8-Nov||#887 GJ10 GJ11 1,875 1,968) 1,875 3,843 413 THE SPORTS STORE Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 30-Nov #894 GJ11 14,055 14,055 414 TARGET Date 2018 CREDIT LIMIT: $250,000 Credit Balance Description Ref Debit 28-Nov#893 GJ11 20.844 20,844 415 TOYS R WE Date Description 2018 CREDIT LIMIT: $250,000 Ref Debit Credit Balance 15-Oct||#880 GJ10 3,158|| 3,158 1-Decl#895 GJ12 1,654 4,812 ACCOUNTS PAYABLES (Subsidiary) LEDGER 251 AMERICAN BICYCLE STORE TERMS: 1/15, Net 30 Date Description 2018 Ref Debit Credit Balance 10-Nov purchase GJ11 10,869 (10,869) 2-Dec Check #596 GJ12 10.869 0 252 BICYCLE SUPPLIES CO. TERMS: 2/10, Net 20 Date Description 2018 Ref Debit Credit Balance 28-Nov purchase GJ11 6.784 (6,784) 253 BIKE PARTS CO. 1411 E. Michigan Ave. Stow, Ohio 44224 TERMS: 2/15, Net 30 Date Description 2018 Ref Debit Credit Balance 26-Nov purchase GJ11 33.952 (33,952) 254 CRUZ CO. TERMS: Net 30 Date 2018 Description Ref Debit Credit Balance 5-Nov purchase GJ11 5,125 (5,125) 2-Dec purchase GJ12 4,216 (9,341 255 FIX UM FAST TERMS: 1/15, Net 30 Date Description 2018 Ref Debit Credit Balance 4,996 20-Nov purchase 25-Nov Return of 11/20 purchase GJ11 GJ11 (4,996) 698 (4,298) 256 GEARS SUPPLY STORE 7311 Southern Boulevard Boardman, Ohio 44512 TERMS: 2/15, Net 30 Date Description 2018 Ref Debit Credit Balance 30-Nov purchase GJ11 16,158 (16,158) 3-Dec Return of 11/30 purchase GJ12 362 (15,796) 257 JACKSON MACHINERY TERMS: Net 30 Date Description 2018 Ref Debit Credit Balance 258 SPORTS AND RECREATIONAL SUPPLIES TERMS: 2/15, Net 30 Date Description Ref Debit 2018 Credit Balance 29-Nov purchase GJ11 23,166 (23,166) 259 THE WATER STREET JOURNAL TERMS: Net 30 Date Description 2018 Ref Debit Credit Balance 30-Nov purchase GJ11 986 (986) ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER 406 ED'S BIKE SHOP Date Description 2018) CREDIT LIMIT: $250,000 Debit Credit Balance Ref 28-Nov #892 GJ11 14.006 14,006 3-Dec cash receipt for invoice #892 GJ12 14,006 0 407 FAST ON WHEELS STORE Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 15-Nov #889 GJ11 4,066 4,066 2-Dec Return--Invoice #889 GJ12 284 3,782 408 FREE STYLE COMPANY Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 12,556 21-Nov #888 28-Novi Return--Invoice #888 GJ11 GJ11 12,556 11,713 843 409 HUFFY STORE Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 5-Jul #851 5-Oct #877 5-Nov #886 GJ7 GJ10 GJ11 934 2,587) 6,014) 934 3,521 9,535 410 KENT RECREATION Date Description 2018 CREDIT LIMIT: $250,000 Ref Debit Credit Balance 15-Jul#855 20-Sepl#872 28-Nov #891 GJ7 GJ8 GJ11 1,044 3,0891 4.563| 1,044 4,133 8,696 411 SCHWINN STORE Date Description 2018 CREDIT LIMIT: $250,000 Ref Debit Credit Balance 412 SPECIALIZED BIKES, INC. Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 8-Oct|#878 8-Nov||#887 GJ10 GJ11 1,875 1,968) 1,875 3,843 413 THE SPORTS STORE Date Description 2018 CREDIT LIMIT: $250,000 Debit Credit Balance Ref 30-Nov #894 GJ11 14,055 14,055 414 TARGET Date 2018 CREDIT LIMIT: $250,000 Credit Balance Description Ref Debit 28-Nov#893 GJ11 20.844 20,844 415 TOYS R WE Date Description 2018 CREDIT LIMIT: $250,000 Ref Debit Credit Balance 15-Oct||#880 GJ10 3,158|| 3,158 1-Decl#895 GJ12 1,654 4,812 ACCOUNTS PAYABLES (Subsidiary) LEDGER 251 AMERICAN BICYCLE STORE TERMS: 1/15, Net 30 Date Description 2018 Ref Debit Credit Balance 10-Nov purchase GJ11 10,869 (10,869) 2-Dec Check #596 GJ12 10.869 0 252 BICYCLE SUPPLIES CO. TERMS: 2/10, Net 20 Date Description 2018 Ref Debit Credit Balance 28-Nov purchase GJ11 6.784 (6,784) 253 BIKE PARTS CO. 1411 E. Michigan Ave. Stow, Ohio 44224 TERMS: 2/15, Net 30 Date Description 2018 Ref Debit Credit Balance 26-Nov purchase GJ11 33.952 (33,952) 254 CRUZ CO. TERMS: Net 30 Date 2018 Description Ref Debit Credit Balance 5-Nov purchase GJ11 5,125 (5,125) 2-Dec purchase GJ12 4,216 (9,341 255 FIX UM FAST TERMS: 1/15, Net 30 Date Description 2018 Ref Debit Credit Balance 4,996 20-Nov purchase 25-Nov Return of 11/20 purchase GJ11 GJ11 (4,996) 698 (4,298) 256 GEARS SUPPLY STORE 7311 Southern Boulevard Boardman, Ohio 44512 TERMS: 2/15, Net 30 Date Description 2018 Ref Debit Credit Balance 30-Nov purchase GJ11 16,158 (16,158) 3-Dec Return of 11/30 purchase GJ12 362 (15,796) 257 JACKSON MACHINERY TERMS: Net 30 Date Description 2018 Ref Debit Credit Balance 258 SPORTS AND RECREATIONAL SUPPLIES TERMS: 2/15, Net 30 Date Description Ref Debit 2018 Credit Balance 29-Nov purchase GJ11 23,166 (23,166) 259 THE WATER STREET JOURNAL TERMS: Net 30 Date Description 2018 Ref Debit Credit Balance 30-Nov purchase GJ11 986 (986)