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Question
 |
132. Outdoors 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.
Answer:
| General Ledger | ||||||||||
| Cash No. 101 | Notes Payable No. 250 | |||||||||
| Date | PR | Debit | Credit | Balance | Date | PR | Debit | Credit | Balance | |
| 7/1 | 4,500 | |||||||||
| Accounts Receivable No. 106 | Sales No. 403 | |||||||||
| Date | PR | Debit | Credit | Balance | Date | PR | Debit | Credit | Balance | |
| 7/1 | 6,700 | 7/1 | 30,000 | |||||||
| Inventory No. 109 | Sales Discounts No. 405 | |||||||||
| Date | PR | Debit | Credit | Balance | Date | PR | Debit | Credit | Balance | |
| 7/1 | 15,000 | 7/1 | 400 | |||||||
| Notes Receivable No. 115 | Interest Revenue No. 415 | |||||||||
| Date | PR | Debit | Credit | Balance | Date | PR | Debit | Credit | Balance | |
| 7/1 | 2,200 | |||||||||
| Accounts Payable No. 201 | Cost of Goods Sold No. 502 | |||||||||
| Date | PR | Debit | Credit | Balance | Date | PR | Debit | Credit | Balance | |
| 7/1 | 3,450 | 7/1 | 18,000 | |||||||
| Accounts Receivable Journal | ||||||||||
| Able Co. | Bell Co. | |||||||||
| Date | PR | Debit | Credit | Balance | Date | PR | Debit | Credit | Balance | |
| 7/1 | 4,750 | 7/1 | 1,950 | |||||||
Answer
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