In the notes payable journal, enter the following notes:
No. 32, made by the company in favor of the Yawman & Erbe Mfg. Co., dated October 15, for two months for $1,472.50 at 6%.
No. 31, made by the company in favor of the Harding National Bank for discount, dated October 20, at 6% for 60 days, amount $5,000.
Enter these in the notes payable journal and treat as with notes receivable above.
Your books, general and subsidiary, will now show the condition as at the beginning of business December 1.
XIX
Make record in the various books of original entry of the following transactions for December, figures at left margin indicating day of month. Where needed, directions appear at the close of each assignment.
| Dec. | |
| 1. | Sold Browne Morse Co., 1/10, n/30, $1,538.40 (A), and $408.75 (B) |
| on which the company prepaid freight and charged to them $58.85. | |
| Received on account from Willis, Dickson, Inc. $2,000. | |
| Paid cash on account to American Banking Machine Co., $2,000. | |
| 2. | Bought of the Yawman & Erbe Mfg. Co., 2/5, n/20, $2,989.80 (A), |
| and $3,347.65 (B). | |
| Sold Clark & Smith, 2/10, n/60, $3,276.40 (A), and $1,562.32 (B). | |
| Received cash on account from Alexander, Hill & Co., $3,500. | |
| Paid cash on account to Filing Systems & Cabinet Co. $2,000. | |
| 3. | Sold General Fireproofing Co., 1/5, n/30, $2,190, (A). |
| Received cash from Sundry Customers $5,547.80. | |
| Paid American Kardex Co. $3,500 on account. | |
| 5. | Sold Hall, Walter & Co., 3/10, n/30, $1,279.60 (A), and $390.45 (B). |
| Received payment on Hall, Walter & Co. note No. 84, with interest. | |
| Browne Morse Co. paid their bill of December 1, less 1%. | |
| Paid American Duplicator Co., November balance less 1%. | |
| Received $2,497.80 from Sundry Customers. | |
| 6. | Bought of the Automatic Pencil Sharpener Co., 4/10, n/30, $679 (B). |
| Bought from Apex Office Supply Co., 1/10, n/30, $1,497.80 (A), and $896.45 (B). | |
| Sold Peerless Motor Co., 1/10, n/60, $2,679.40 (A), and $1,243.70 (B), | |
| with prepaid freight charged them $22.90. | |
| Received $2,500 on account from Willis, Dickson, Inc. | |
| Gave our 30-day note No. 33, at 6%, in favor of Library Bureau, | |
| to apply on account, $3,000. | |
| Paid Sundry Creditors $8,191.75. | |
| 7. | Sold Second Third National Bank, 1/5, n/60, $425 (B). |
| Paid Yawman & Erbe bill of December 2, less 2%. | |
| Received from Sundry Customers $2,976.80 on account. | |
| Sold Browne Morse Co., 1/10, n/30, $1,215.60 (A), and $671.15 (B). | |
| Clark & Smith returned goods, invoice of December 2, | |
| $127.50 (A), and $16.18 (B). | |
| General Fireproofing Co. paid their invoice of December 3 less 1%. | |
| Second Third National Bank paid their November balance less 1%. | |
| 9. | Bought of Dictation Devices Co., 1/10, n/30, $3,784.90 (A), |
| and $1,781.19 (B). | |
| Paid cash for insurance $275. | |
| In making a deposit at the bank, a $20 note was found | |
| to be counterfeit. | |
| 10. | A note receivable for $2,500 was received from the president, |
| due in six months at 6% in return for a loan made to him | |
| by the company. | |
| Sold Automatic Pencil Sharpener Co. $896.40 (B), 1/5, n/30. | |
| Received cash on account from Franklin Moffit Co. $7,500. | |
| Browne Morse Co. paid $2,000 on account. | |
| Paid Apex Office Supply Co., $2,500 on account. | |
| 12. | Bought of the Protectograph Co., n/60, $2,976.80 (B). |
| Sold Alexander Hill & Co., 2/5, n/30, $1,569.70 (A), | |
| and $972.80 (B). | |
| Hall, Walter & Co. returned goods, invoice of December 5, | |
| $92.78 (A), and $121.47 (B). | |
| Received balance from Clark & Smith, invoice of December 2, less 2%. | |
| Paid Yawman & Erbe Mfg. Co. $5,000 on account; and Dictation Devices Co. $2,500. | |
| The Second Third National Bank paid their invoice of December 7, less 1%. | |
| 13. | John B. Scrivener, the secretary, withdrew for his home use |
| $125.80 (A), and $48.90 (B). | |
| Sold Browne Morse, 1/10, n/30, $894.65 (A) and $1,292.45 (B). | |
| Returned to Automatic Pencil Sharpener Co. $207 (B) of the | |
| invoice of December 6. | |
| Paid $890 for changing the partitions in the warehouse. | |
| Took from stock a new sofa, $275 (A) for use in salesrooms. | |
| 14. | Purchased from American Banking Machine Co., 3/10, n/30, |
| $1,472.85 (A), and $4,561.40 (B). | |
| Sold Standard Truck Co., 1/10, n/30, $684.90 (A), | |
| and $516.75 (B), with prepaid freight charged them $62.81. | |
| Received $2,500 on account from Franklin Moffit Co. | |
| Paid Protectograph Co. $2,000 on account. | |
| 15. | Sent a consignment of Department A goods, $1,200 to |
| G. A. Roberts, to be sold on a 5% commission basis. | |
| Drew a 30-day sight draft on Alexander Hill & Co. to apply | |
| on account, $2,500, which was accepted. | |
| Hall, Walter & Co. gave a 30-day 6% note for balance of their | |
| bill of December 5, less 3%. | |
| The Franklin Moffit Co. note was paid with interest. | |
| Received from Automatic Pencil Sharpener Co. in full | |
| settlement, the net balance due as shown by their | |
| two accounts, advantage being taken of the discounts both ways. | |
| Paid Yawman & Erbe note due today with interest. |
Instructions
December 5. Record the interest received from Notes Receivable in the Interest and Bank Expense account.