Can I get the subsidiary ledgers accounts receivable/payable?! SUBSIDIARY LEDGER
ID: 2598937 • Letter: C
Question
Can I get the subsidiary ledgers accounts receivable/payable?!
SUBSIDIARY LEDGERS ACCOUNTS RECEIVABLE
Billy Bob Supply Company uses four special journals: purchases, sales, cash receipts, and cash disbursements, along with a general journal. The following transactions were incurred during August:
Aug. 1 Purchased merchandise from Able Co. for $6,000, terms 2/10, n/30.
3 Received check from Fox Co. (full balance outstanding) for July sale (less the 2% discount).
3 Sent check No.757 for $4,900 to Able Co. in full payment of outstanding balance from the prior
month.
4 Sold merchandise on credit to Coe Co. for $5,000, terms 2/10, n/30, Invoice No. 245.
Cost of the goods sold is $2,500.
5 Purchased merchandise from Baker Co. for $6,000, terms 1/15, n/30.
8 Purchased office supplies on credit from Echo Co. for $500, terms n/30.
9 Returned merchandise costing $300 to Able Co. from August 1 purchase.
11 Paid Able Co. for the August 1 purchase, (less discount) Check No. 758.
13 Received cash payment from Coe Co. for August 4 sale (less discount).
15 Paid August rent of $1,000, Check No. 759.
15 Sold merchandise on credit to Fox Co. for $5,000, terms 2/10, n/30, Invoice No. 246.
Cost of the goods sold is $2,400.
18 Sold merchandise on credit to Coe Co. for $4,000, terms 2/10, n/30, Invoice No. 247.
Cost of the goods sold is $2,200.
18 Received $2,400 cash for the $2,000 note receivable from Fox Corp. (included $400 Interest).
19 Sold merchandise on credit to Thomas Co .for $6,000, terms 2/10, n/30,
Invoice No. 248. Cost of the goods sold was $3,700.
20 Made cash payment in full to Baker Co. for the August 5 purchase, Check No 760.
20 Sold merchandise on credit to Fox Co. for $4,000, terms 2/10, n/30, Invoice No. 249.
Cost of the goods sold was $2,400.
22 Sold merchandise on credit to Thomas Co. for $4,000, terms 2/10, n/30, Invoice No. 250.
Cost of the goods sold is $2,200.
25 Received full payment less discount from Fox Co. for Aug.15 sale.
28 Recorded cash sales for the month $7,000. The cost of the goods sold was $3,000.
29 Paid Telephone Bill for August of $800, Check No. 761.
Paid Salaries of $500 each to 3 employees Checks 762, 763, 764.
30 Issued Check # 765 for $5,300 ($5,000 note payable and $300 interest expense)
Record the above transactions in the appropriate special journals below. Post to ledgers and prepare the trial balances.
Subsidiary Account Receivable – Fox Company
Date
PR
Debit
Credit
Balance
XX
Balance
XX
XX
2,000
Subsidiary Account Receivable - Thomas
Date
PR
Debit
Credit
Balance
Subsidiary Account Receivable. - Coe Company
Date
PR
Debit
Credit
Balance
SUBSIDIARY LEDGERS ACCOUNTS PAYABLE
Subsidiary Account Payable -- Able Company
Date
PR
Debit
Credit
Balance
XX
Balance
XX
XX
5,000
Subsidiary Account Payable - Baker Company
Date
Explantation
PR
Debit
Credit
Balance
Subsidiary Account Payable – Echo
Date
PR
Debit
Credit
Balance
Schedule of Accounts Receivable
Schedule of Accounts Payable
Subsidiary Account Receivable – Fox Company
Date
PR
Debit
Credit
Balance
XX
Balance
XX
XX
2,000
Billy Bob Supply Company uses four special journals: purchases, sales, cash receipts, and cash disbursements, along with a general journal. The following transactions were ineurred during August Aug. 1 Purchased merchandise from Able Co. for $6,0o0, terms 2/10, n/30 Received c heck from Fox Co. (full balance outstanding for July sale (less the 2% discount). Sent t cheek No.757 for $4,900 to Able Co. in full payment of outstanding balance from the prior month. Sold merchandise on credit to Coe Co. for $5,000, terms 2/10, n/30, Invoice No. 245 Cost of the goods sold is $2,500 Purchased me Purchased office rchandise from Baker Co. for $6,000, terms 1/15, n/30 supplies on credit from Echo Co. for $500, terms n/30. Paid Able Co. for the A Received ugust 1 purchase, (less discount) Check No. 758. cash payment from Coe Co. for August 4 sale (less discount). 15 Paid August rent of $1,000, Check No. 759. 15 Sold merchandise on credit to Fox Co.t or $5,000, terms 2/10, n/30, Invoice No. 246. 18 Sold merchandise on C 18 19 Cost of the goods sold is $2,400. Cost of the goods sold is $2,200. Sold merchandise on credit to Thomas Co.for $6,000, terms 2/10, n/30, credit to Coe Co. for $4,000, terms 2/10, n/30, Invoice No. 247, Received $2,400 cash for the $2,000 note receivable from Fox Corp. (included $400 Interest). Invoice No. 248. Cost of the goods sold was $3,700. 20 Made cash payment in full to Baker Co. for the August 5 purchase, Check No 760. 20 Sold merchandise on credit to Fox Co. for $4,000, terms 2/10, n/30, Invoice No. 249 Cost of the goods sold was $2,400mCo for $4,000, terms 2/10, n/30, Invoice No.250. Cost of the goods sold is $2,200 Received full payment less discount from Fox Co. for Aug.15 sale. Recorded cash sales for the month $7,000. The cost of the goods sold was $3,000. Paid Telephone Bill for August of $800, Check No. 761 Paid Salaries of $500 each to 3 employees Checks 762, 763, 764. Issued Check # 765 for $5,300 ($5,000 note payable and $300 interest expense) 25 28 29 30 Record trial balances. the above transactions in the appropriate special journals below. Post to ledgers and prepare th GENERAL JOURNAL Debit Credit Date Account Title 41 4 Sales R 30Explanation / Answer
Subsidiary A/c Rec-Thomas
Subsidiary A/c Payable-Able
Subsidiary A/c Payable- Baker
Payment
Disct
5400
600
Subsidiary A/c Payable- Echo
500
Date A/c Receivable- Fox Co. Dr. Cr. Balance Balance 2000 03/08 Received Check 1600 Disct 400 15/08 Sales No.246 5000 Disct 400 18/08 Received Cash 2360 Disct 40 20/08 Sales 4000 25/08 Received 3000 Disct 60 Balance 4000Related Questions
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