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Check Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. General Ledger Account Cash Accounts receivable Debit Credit No. Debit Credit No. Date Mar 01 Balance 14,600 Date Mar 01 Balance 58,000 Inventory Debit J. Thompson, Capital Debit Credit No. Credit No. Date Mar 01 Balance 23,000 Date Mar 01 Balance 95,600 Thompson Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. 1 Purchased $46,400 of merchandise from Taylor Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Griffin Co., Invoice No. 854, for $50,400 (cost is $30,000). Mar. 3 Purchased $1,900 of office supplies on credit from Sanchez Company, invoice dated March 3, terms n/10 BOM. Mar 3 Sold merchandise on credit to Isaac Carter, Invoice No. 655, for $14,000 (cost is $8,400). Mar. 6 Borrowed $84,000 cash from First Bank by signing a long-term note payable. Mar. 9 Purchased $22,150 of office equipment on credit from Mitchell Supply, invoice dated March 9, terns n/10 BOH Mar. 10 Sold merchandise on credit to Paula Parker, Invoice No. 856, for $11,200 (cost is $6,700). Mar. 12 Received payment from Griffin Co. for the March 2 sale less the discount. Mar. 13 Sent Taylor Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Isaac Carter for the March 3 sale less the discount. Mar. 14 Purchased $55,000 of merchandise from the Ryan Co., invoice dated March 13, terms 2/10, n/30. Mar. 15 Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $23,900. Cashed the check and paid the employees. Mar. 15 Cash sales for the first halt of the month are $46,000 (cost is $27,600). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $3,000 of store supplies on credit from Sanchez Company, invoice dated March 16, terns n/10 EON. Mar. 17 Received a $5,000 credit memorandum from Ryan Co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,320 credit memorandum from Mitchell Supply for office equipment received du March 9 and returned for credit Mar. 20 Received payment from Paula Parker for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to Ryan Co. In payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 957, for $25,000 (coat is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,00) Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Prav 1 of 1 HII Next Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroli, in payment of sales salaries expense for the last half of the mi $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Cash Rec Cash Disb Purchases Requirement Journal Sales Journal Ledger Trial Balance Journal Journal Journal The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance (indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Thompson Company Trial Balance March 31, 2017 Account Title Credit $ Cash Accounts receivable Inventory J. Thompson, Capital Total Debit 14,600 58,000 23,000 95,600 95,600 95,600 $ (General Ledger Cash Rec Journal > Prey 1 of 1 Next Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the mont $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal ed Enter all transactions that are properly included in the Cash Receipts Journal. CASH RECEIPTS JOURNAL Accounts Date Account credited Sales discount Cash Dr. Sales Cr. Dr. receivable Cr. Other Accts, CA Cost of goods sold Dr. Inventory Cr Mar 31 Totals Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). poed General General Cash Rec Requirement Cash Disb Purchases Journal Ledger Trial Balance Sales Journal Journal Journal Journal Enter all transactions that are properly included in the Cash Disbursements Journal. CASH DISBURSEMENTS JOURNAL Check Other accounts Dato Payee Account debited Cash Cr. Inventory Cr. Account No Dr. payable De Book Mar. 31 Totals Prey 1 of 1 Next Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Purchases Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal sed Journal Sales Journal Enter all transactions that are properly included in the Purchases Journal. PURCHASES JOURNAL Accounts Date Account Invoice Date Terms payable Cr. Other Inventory Dr. Office supplies Dr accounts De Mar 31 Totals Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the mon $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Cash Disb Purchases Journal Sales Journal General General Cash Rec Requirement Journal Trial Balance Ledger Journal Enter all transactions that are properly included in the Sales Journal. Journal SALES JOURNAL Invoice number Accounts receivable Dr. Cost of goods sold Dr. Sales Cr. Inventory Cr Date Account debited Mar. 31 Totals Thompson Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. 1 Purchased $46,400 of merchandise from Taylor Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Griffin Co., Invoice No. 854, for $50,400 (cost is $30,000). Mar. 3 Purchased $1,900 of office supplies on credit from Sanchez Company, invoice dated March 3, terms n/10 BOM. Mar 3 Sold merchandise on credit to Isaac Carter, Invoice No. 655, for $14,000 (cost is $8,400). Mar. 6 Borrowed $84,000 cash from First Bank by signing a long-term note payable. Mar. 9 Purchased $22,150 of office equipment on credit from Mitchell Supply, invoice dated March 9, terns n/10 BOH Mar. 10 Sold merchandise on credit to Paula Parker, Invoice No. 856, for $11,200 (cost is $6,700). Mar. 12 Received payment from Griffin Co. for the March 2 sale less the discount. Mar. 13 Sent Taylor Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Isaac Carter for the March 3 sale less the discount. Mar. 14 Purchased $55,000 of merchandise from the Ryan Co., invoice dated March 13, terms 2/10, n/30. Mar. 15 Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $23,900. Cashed the check and paid the employees. Mar. 15 Cash sales for the first halt of the month are $46,000 (cost is $27,600). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $3,000 of store supplies on credit from Sanchez Company, invoice dated March 16, terns n/10 EON. Mar. 17 Received a $5,000 credit memorandum from Ryan Co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,320 credit memorandum from Mitchell Supply for office equipment received du March 9 and returned for credit Mar. 20 Received payment from Paula Parker for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to Ryan Co. In payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 957, for $25,000 (coat is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,00) Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Prav 1 of 1 HII Next Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroli, in payment of sales salaries expense for the last half of the mi $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Cash Rec Cash Disb Purchases Requirement Journal Sales Journal Ledger Trial Balance Journal Journal Journal The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance (indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Thompson Company Trial Balance March 31, 2017 Account Title Credit $ Cash Accounts receivable Inventory J. Thompson, Capital Total Debit 14,600 58,000 23,000 95,600 95,600 95,600 $ (General Ledger Cash Rec Journal > Prey 1 of 1 Next Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the mont $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal ed Enter all transactions that are properly included in the Cash Receipts Journal. CASH RECEIPTS JOURNAL Accounts Date Account credited Sales discount Cash Dr. Sales Cr. Dr. receivable Cr. Other Accts, CA Cost of goods sold Dr. Inventory Cr Mar 31 Totals Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). poed General General Cash Rec Requirement Cash Disb Purchases Journal Ledger Trial Balance Sales Journal Journal Journal Journal Enter all transactions that are properly included in the Cash Disbursements Journal. CASH DISBURSEMENTS JOURNAL Check Other accounts Dato Payee Account debited Cash Cr. Inventory Cr. Account No Dr. payable De Book Mar. 31 Totals Prey 1 of 1 Next Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Purchases Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal sed Journal Sales Journal Enter all transactions that are properly included in the Purchases Journal. PURCHASES JOURNAL Accounts Date Account Invoice Date Terms payable Cr. Other Inventory Dr. Office supplies Dr accounts De Mar 31 Totals Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the mon $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Cash Disb Purchases Journal Sales Journal General General Cash Rec Requirement Journal Trial Balance Ledger Journal Enter all transactions that are properly included in the Sales Journal. Journal SALES JOURNAL Invoice number Accounts receivable Dr. Cost of goods sold Dr. Sales Cr. Inventory Cr Date Account debited Mar. 31 Totals

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