MODULE $2$ MASTERY ASSESSMENT INSTRUCTIONS

Journalize the transactions provided below in the General Journal.

Enter the beginning balances to each of the accounts provided below into the General Ledgers.

Post all general journal transactions to the respective general ledger accounts.

Post to the Accounts Receivable Subledger.

Prepare the Schedule of Accounts Receivable.

Post to the Accounts Payable Subledger

Prepare the Schedule of Accounts Payable.

Prepare a Bank Reconciliation.General ledger account balances as of May $1,20--$

$\backslash$table$[[$Account Title,Account No$.,$General Ledger Balance on May $1],[$Cash$,,101,,40,000],[$Accounts Receivable,,$122,,14,160],[$Purchases$,,133,,6,000],[$Aocounts Payable,,$230,,10,300],[$Sales Tax Payable,,$231,,130],[$Sales$,,401,,25,000],[$Sales Return and Allowar,ces,$401\mathrm{.}1,,400],[$Wages Expense,,$500,,5\mathrm{.}000]]$

Accounts Receivable Account Balances as of May $1$

$\backslash$table$[[$Customer$,$Account Balance$],[$Angel Garcia,$5,000],[$Mark Parsons,$2,500],[$Dana Longview,$3,000],[$Eduardo Quintana,$1,260],[$Daisy Rangel,$1,500],[$Kevin Sanders,$900]]$

Accounts Payable Account Balances as of May $1$

$\backslash$table$[[$Customer$,$Account Balance,$],[$Keys Wholesale,,$1,000],[$Custom Works,$1,900,],[$American Products,$4,000,],[$Edible Pursuits,$1,450,],[$Duke$\text{'}$s Designs,$1,250,],[$Fryes Elecrtonics,$700,]]$Transactions

May $1$: Purchased merchandise from Keys Wholesale on account for $$735\mathrm{.}30,$ Invoice No $91$ Dated May $1,$ terms $2/10,$ n$30.$

May $2$: Purchased merchandise from Fryes Electronics on account for $$1500,$ Invoice no $102$ Dated May $2,$ terms $2/10,$ n$/30.$

May $3$: Sold merchandise on account to Dana Longview for $$169\mathrm{.}50$ plus tax of $8\mathrm{.}25\%(0\mathrm{.}0825).$ Sale No$.51.$

May $4$: Sold merchandise on account to Daisy Rangel for $$799\mathrm{.}99$ plus tax of $8\mathrm{.}25\%(0\mathrm{.}0825).$ Sale No$.52.$

May $6$: Received payment from Kevin Sanders on account, $$100\mathrm{.}00.$

May $7$: Issued a Credit Memo No$.68$ to Mark Parsons for merchandise returned that had sold on account, $$72\mathrm{.}75.$

May $9$: Issued a check No $895$ to Keys Wholesale, Invoice $91($hint: invoice terms$)$

May $10$: Received payment from Daisy Rangel on account, $$500.$

May $11$: Sold merchandise on account to Eduardo Quintana for $$799\mathrm{.}95$ plus tax of $8\mathrm{.}25\%(0825),$ Sale no$.63.$

May $12$: Received a Credit Memo from Edibile Pursuits for credit for event on April $25$ for $$450\mathrm{.}00.$

May $13$: Received payment from Angel Garcia for half of the amount on account balance.

May $14$: Purchased merchandise from Custom Works on account for $$395\mathrm{.}00$ plus tax of $8\mathrm{.}25\%(0825),$ Invoice No $289,$ terms $2/10,$ n$/30.$

May $15$: Received a credit memo from Custom Works for merchandise purchased on May $14$ for $$79\mathrm{.}00$

May $17$: Sold merchandise on account to Kevin Sandar for $$565\mathrm{.}00$ plus tax of $8\mathrm{.}25\%(0\mathrm{.}0825).$ Sale No$.45.$

May $19$: Sold merchandise for Cash to Mark Parsons for $$79\mathrm{.}95$ plus tax of $8\mathrm{.}25\%(0825),$ Sales $46.$

May $21$: Issued Credit Memo $49$ for merchandise returned that had been sold on account to Dana Longview, $$63\mathrm{.}45($hint: sales tax$)$

May $23$: Issued a Check No$.897$ to Custom Works for merchandise purchased on May $14($hint: invoice terms$).$

May $24$: Received payment from Eduard Quintana on account for $$500\mathrm{.}00.$

May $25$: Sold merchandise on account to Angel Garcia for $$189\mathrm{.}50$ plus tax of $8\mathrm{.}25\%(0825).$ Sale No$.47.$

May $26$: Received payment from Dana Longview on account for $$550\mathrm{.}65.$

May $27$: Purchased merchandise from Fryes Electronics on account for $$478\mathrm{.}63,$ Invoice $857,$ terms $2/10,$ n$/30.$

May $28$: Sold merchandise on account to Eduardo Quintana for $$69\mathrm{.}95$ plus tax of $8\mathrm{.}25\%(0825),$ Sale No$.48.$

May $29$: Issued check No$.898$ to American Products for cash payment of merchandise on account for $$678\mathrm{.}95.$

May $30$: Issued check $899$ to Fryes Electronics in payment of Invoice $857($hint: invoice terms$).$Bank Reconciliation Information:

Balance per bank statement as of May $31$ was $$41,615\mathrm{.}95.$

Balance per Hughes Company's Cash account at May $31$ was $$41,378\mathrm{.}50.$

A late deposit on May $31$ did nol appear on the bank statement, $$550\mathrm{.}65.$

Outstanding checks as of May $31$ totaled $$888\mathrm{.}10.$

The Bank Service Charqe was $$100.$