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Sales Transactions and Ledger Summary

This document records sales transactions in a sales journal and posts them to various general ledger and subsidiary ledger accounts. It shows sales being recorded for various customers on different dates and the accounts receivable and sales accounts being updated. It also records cash receipts, sales returns, and payments on accounts receivable, with corresponding updates to related accounts.

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535 views2 pages

Sales Transactions and Ledger Summary

This document records sales transactions in a sales journal and posts them to various general ledger and subsidiary ledger accounts. It shows sales being recorded for various customers on different dates and the accounts receivable and sales accounts being updated. It also records cash receipts, sales returns, and payments on accounts receivable, with corresponding updates to related accounts.

Uploaded by

Now Onwoo
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
  • Recording and Posting Sales Transactions
  • Accounts Receivable Subsidiary Ledger

PROBLEM #1

RECORDIING AND POSTING SALES TRANSACTIONS USING SPECIAL JOURNALS

SALES JOURNAL PAGE 16


DATE INVOICE# ACCOUNT DEBITED PR ACCOUNTS RECEIVABLE CR. /
2022 SALES DR.
JUN 1 377 R. BITUIN / 32,000
3 378 A. PERDALES / 54,000
13 379 B. CEBALLUS / 62,000
16 380 A. RAMEL / 17,000
30 381 P. MARITIMO / 34,000
199,000
(120/410)

GENERAL LEDGER
ACCOUNTS RECEIVABLE SALES CASH SALES DISCOUNTS
S16 199,000 CR35 S16 199,000 CR35 269,890 CR35 4,110
143,000
CR35 46,000

SALA, INVESTMENT NOTES PAYABLE


CR35 52,000 CR35 30,000

SALES RETURNS AND


ALLOWANCES
GJ13 11,000
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

R. BITUIN A. PERDALES B. CEBALLUS A. RAMEL


S16 6/1 32,000 CR35 6/7 32,000 S16 6/3 54,000 CR35 54,000 S1 6/13 62,000 GJ13 6/15 11,000 SJ16 6/16 17,000 CR35 6/29 6,000
CR35 6/21 51,000

P. MARITIMO
SJ16 6/30 34,000

GENERAL LEDGER PAGE 13


JUNE 15 SALES RETURNS AND ALLOWANCES 420 11,000
ACCOUNTS RECEIVABLE 120 11,000

CASH RECEIPTS JOURNAL PAGE 35


DEBITS CREDITS OTHER ACCOUNTS
DATE O.R. DESCRIPTION
2022 # CASH SALES ACCOUNTS SALES ACCOUNT TITLE PR AMOUNT
DISCOUNTS RECEIVABLE
JUN 1 OWNER’S INVESTMENT 52,000 SALA, INVESMENT 52,000
4 CASH SALES 46,000 46,000
7 R. BITUIN 31,040 960 32,000
9 A. PERDALES 52,380 1,620 54,000
15 MONTE DE SANTA CRUZ 30,000 NOTES PAYABLE 30,000
BANK
21 B. CEBALLUS 49,470 1,530 51,000
29 A. RAMEL 6,000 6,000
269,890 4,110 143,000 46,000 82,000
(110) (430) (120) (410) (/)

PROBLEM #1 RECORDIING AND POSTING SALES TRANSACTIONS USING SPECIAL JOURNALS SALES JOURNAL PAGE 16 DATE INVOICE# ACCOU
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER R. BITUIN A. PERDALES B. CEBALLUS A. RAMEL S16 6/1 32,000 CR35 6/7 32,000 S16 6/3 54,00

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