Instructions

Problem 2. Use two-column journal paper—the inner column for detail and the outer column for totals. Follow [Form 7 shown on page 142].

Use plain paper with “T” accounts for the ledger.

Problem 3. Use three-column journal paper. Rule in additional lines to make it conform with [Figure 9 on page 144]. Follow carefully the illustration on that page in making the entries.

Use plain paper with “T” accounts for the ledger.

XX

1. The following transactions are to be entered in a cash receipts journal and posted, where necessary, to ledger accounts. At the end of the week summarize and post to a Cash account. Follow the [illustration on page 148].

May
1.A. K. Foster, on account $56.10; S. C. Kramer $66.25.
Cash sales $316.
2.Miss Alice Hanna, on account $93.50; W. S. Jordan $259.50.
Cash sales $425.
3.Cash sales $543.
5.C. A. De Forest paid his note for $1,000, due today, with interest $15.
Mrs. Irene Brush paid on account $235.
Cash sales were $276.
6.Mrs. Lena Dupont paid on account $67.25.
E. F. Gibbs paid on account $100.
Cash sales were $347.75.
7.James W. Law, on account of his non-interest-bearing note $126.75.
Mrs. Molly Lee, on account $257.25.
E. D. Wynne, for commission on goods sold for him, $25.
Cash sales $482.

2. Enter the following transactions in a cash disbursements journal and post daily to “T” ledger accounts set up on plain paper. Follow the form of journal [shown on page 149]. Post total disbursements for the week to the ledger Cash account used in Problem 1.

May
1.Paid Acme Cloak & Suit Co., on account $235;
American Cloak Co. $165.
Bought postage stamps and stamped envelopes $50.
2.Paid Green & Greenberger on account $175.
Bought office stationery $51.75.
Paid Ideal Cord & Trimming Co. on account $45.
3.Paid Lakeview Garment Co. on account $127.50;
Lang Trimming Co. on account $25.
Paid salesmen’s salaries $225.
5.Paid Empire Dress & Suit Co. on account $137.
Paid telephone bill for April $30.14.
Paid Elmer Cloak & Suit Co. $75.
Our note #25 for $1,000 came due and was paid with interest $10.
6.Paid electric light bill for April $27.50.
Paid rent May 15 to June 15, $263.
Paid Standard Novelty Works on account $115.
7.Paid Magic Cloak & Suit Co. on account $67.50;
Textile Trimming. Works on account $75.
Paid office salaries $100.