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The Bar Harbor Blueberry Farm is a family-owned, 200- acre farm that grows and sells blueberries to grocery stores, blueberry wholesalers, and small roadside stands.
The Bar Harbor Blueberry Farm is a family-owned, 200- acre farm that grows and sells blueberries to grocery stores, blueberry wholesalers, and small roadside stands. Bar Harbor has 25 full-time employees and hires 150 to 200 seasonal workers for the harvest. For the past six summers, you have picked berries for Bar Harbor. When you graduated, you were hired as the full-time accountant/office manager. Until now, Bar Harbor kept most of its accounting records in a big file box. Jack Phillips, the owner, would like a more organized approach to the farm's accounting records. He has asked you to establish a proper set of books. You decide to start by establishing appropriate journals and ledgers for these transactions. Presented below are a set of vendor invoices and a few partially completed journals and ledgers. Your job is to record these transactions and update the appropriate ledgers. Be sure to leave a proper audit trail. Please use the attached Excel spreadsheet. 2.1 Data from Case Bar Harbor Blueberry Farm Date Supplier Invoice Supplier Name Supplier Address Amount 7-Mar AJ34 Bud's Soil Prep PO Box 34 $2,067.85 Osto Farmers 11-Mar 14568 45 Main $67.50 Supply 14-Mar 893V Whalers Fertilizer Route 34 $5,000.00 21-Mar 14699 Osto Farmers Supply 45 Main $3,450.37 21-Mar 10102 IFM Wholesale 587 Longview $4,005.00 24-Mar 10145 IFM Wholesale 587 Longview $267.88 Purchases Journal Page 1 Date Supplier Supplier Invoice Account Number Post Ref Amount 7-Mar Bud's Soil Prep AJ34 23 V $2,067.85 31-Mar TOTAL General Ledger Account Date Account Number: 300 Description Post Ref Debit Credit Balance Balance 1-Mar $18,735.55 Forward 31-Mar Purchases Account Number: 605 Date Description Post Ref Debit Credit Balance Balance 1-Mar $54,688.49 Forward 31-Mar Account Payable Subsidiary Ledger Account No: 23 Date Description 1-Mar Balance Forward Account No: 24 Date Description 1-Mar Balance Forward Account No: 36 Date Description Bud's Soil Prep PO Box 34 Terms: 2/10, Net 30 Debit Credit Balance 10000 Osto Farmers Supply 45 Main Debit Whalers Fertilizer Route 34 Debit 1-Mar Balance Forward Terms: 2/10, Net 30 Credit Balance 5000 Terms: 2/10, Net 30 Credit Balance 3000 IFM Wholesale 587 Longview Terms: 2/10, Net 30 Debit Credit Balance 735.55 Account No: 38 Date: Description 1-Mar Balance Forward
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