155. Climbers Unlimited uses special journals to record its daily transactions. They use the perpetual inventory system. Shown below is its cash receipts journal and selected ledger accounts. Post the cash receipts journal to the appropriate ledger accounts.
Date
AccountCredited
Explanation
PR
Cash Debit
SalesDisc Debit
Accts.Rec.Credit
SalesCredit
Other Accts.Credit
COGS Dr.Inv. Cr.
July
4
Bale Co.
Invoice 303
3,200
34
3,234
2,000
7
Sales
Cash sales
700
700
450
9
SMT Co.
Invoice 304
950
950
10
Notes Pay
Bank loan
5,400
5,400
20
Notes Rec.
Delta Co.
2,200
20
Int. Rev.
2,310
110
12,560
34
4,184
700
7,710
2,450
General Ledger
Cash No. 101
Notes PayableNo. 250
Date
PR
Debit
Credit
Balance
Date
PR
Debit
Credit
Balance
7/1
4,500
Accounts Receivable No. 106
SalesNo. 403
Date
PR
Debit
Credit
Balance
Date
PR
Debit
Credit
Balance
7/1
6,700
7/1
30,000
Inventory No. 109
Sales DiscountsNo. 405
Date
PR
Debit
Credit
Balance
Date
PR
Debit
Credit
Balance
7/1
15,000
7/1
400
Notes Receivable No. 115
Interest RevenueNo. 415
Date
PR
Debit
Credit
Balance
Date
PR
Debit
Credit
Balance
7/1
2,200
Accounts Payable No. 201
Cost of Goods SoldNo. 502
Date
PR
Debit
Credit
Balance
Date
PR
Debit
Credit
Balance
7/1
3,450
7/1
18,000
Accounts Receivable Subsidiary Leger
Bale Co.
SMT Co.
Date
PR
Debit
Credit
Balance
Date
PR
Debit
Credit
Balance
7/1
4,750
7/1
1,950
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more