The transactions completed by Courtesy Courier Delivery Company during July 2010, the first month of the fiscal year, were as follows:

July      1. Issued Check No. 610 for July rent, $6,200.

2. Issued Invoice No. 940 to Capps Co., $2,340.

3. Received check for $5,150 from Perkins Co. in payment of account.

5. Purchased a vehicle on account from Browning Transportation, $30,200.

July      6. Purchased office equipment on account from Austin Computer Co., $4,100.

6. Issued Invoice No. 941 to Darr Co., $5,240.

9. Issued Check No. 611 for fuel expense, $810.

10. Received check from Sing Co. in payment of $3,720 invoice.

10. Issued Check No. 612 for $880 to Office To Go Inc. in payment of invoice.

10. Issued Invoice No. 942 to Joy Co., $1,210.

11. Issued Check No. 613 for $3,520 to Crowne Supply Co. in payment of account.

11. Issued Check No. 614 for $725 to Porter Co. in payment of account.

12. Received check from Capps Co. in payment of $2,340 invoice.

13. Issued Check No. 615 to Browning Transportation in payment of $30,200 balance.

16. Issued Check No. 616 for $37,300 for cash purchase of a vehicle.

16. Cash fees earned for July 1–16, $16, 300.

17. Issued Check No. 617 for miscellaneous administrative expense, $245.

18. Purchased maintenance supplies on account from Crowne Supply Co., $1,630.

19. Purchased the following on account from McClain Co.: maintenance supplies, $1,820; office supplies, $430.

20. Issued Check No. 618 in payment of advertising expense, $1,625.

20. Used $3,000 maintenance supplies to repair delivery vehicles.

23. Purchased office supplies on account from Office To Go Inc., $500.

24. Issued Invoice No. 943 to Sing Co., $5,000.

24. Issued Check No. 619 to J. Bourne as a personal withdrawal, $2,500.

25. Issued Invoice No. 944 to Darr Co., $6,080.

25. Received check for $3,820 from Perkins Co. in payment of balance.

26. Issued Check No. 620 to Austin Computer Co. in payment of $4,100 invoice of July 6.

30. Issued Check No. 621 for monthly salaries as follows: driver salaries, $16,150; office salaries, $7,880.

31. Cash fees earned for July 17–31, $16,700.

31. Issued Check No. 622 in payment for office supplies, $750.

Instructions

1. Enter the following account balances in the general ledger as of July 1:

2. Journalize the transactions for July 2010, using the following journals similar to those illustrated in this chapter: cash receipts journal, purchases journal (with columns for Accounts Payable, Maintenance Supplies, Office Supplies, and Other Accounts), single-column revenue journal, cash payments journal, and two-column general journal. Assume that the daily postings to the individual accounts in the accounts payable ledger and the accounts receivable ledger have been made.
3. Post the appropriate individual entries to the general ledger.
4. Total each of the columns of the special journals, and post the appropriate totals to the general ledger; insert the account balances.
5. Prepare a trial balance.
6. Verify the agreement of each subsidiary ledger with its control account. The sum of the balances of the accounts in the subsidiary ledgers as of July 31 are:
Accounts Receivable $17,530
Accounts Payable 4,380

Transcribed Image Text:

32 J. Bourne, Drawing Fees Earned Cash 12 Accounts Receivable 14 Maintenance Supplies 15 Office Supplies 16 Office Equipment 17 Accum. Depr.-Office Equip. 18 Vehicles 19 Accum. Depr.-Vehicles 21 Accounts Payable 31 J. Bourne, Capital 11 $155,300 41 51 Driver Salaries Expense 52 Maintenance Supplies Exp. 53 Fuel Expense 61 Office Salaries Expense 62 Rent Expense 63 Advertising Expense 64 Miscellaneous Administrative Expense 9,150 4,200 24,000 5,800 11,700 5,125 265,015