Part 2		(17 points - 1/2 point for each posting from journal and balancing)
Post your Journal entries to the ledgers. Be sure to balance the ledger after each entry.
Ledgers
Cash	#110
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				40,000.00
					Check Answer
					Cash =	38,775.00
Accounts Receivable		#112
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				3,500.00
Merchandise Inventory			#115
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				6,000.00
Estimated Returns Inventory			#116
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				4,300.00
Store Supplies		#117
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				500.00
Prepaid Insurance		#119
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				300.00
Store Equipment		#120
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				2,000.00
Accumulated Depreciation - Store Equipment					#121
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance					200.00
Accounts Payable		#210
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance					1,700.00
Salaries Payable		#211
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
Customer Refunds Payable			#212
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
1-Jun	Balance					9,000.00
Larkin, Capital		#310
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance					40,400.00
Larkin, Drawing		#311
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				2,000.00
Sales		#410
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance					15,700.00
Cost of Merchandise Sold			#510
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				5,000.00
Office Salaries Expense			#511
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				2,000.00
Sales Salaries Expense			#512
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				1,000.00
Rent Expense		#513
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
Depreciation Expense			#514
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				100.00
Insurance Expense		#515
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
Delivery Expense		#516
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
Misc. Selling Expense		#517
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				200
Misc. Administrative Expense			#518
					Balance
Date	Item	Post Ref.	Dr.	Cr.	Dr.	Cr.
June 1	Balance				100

1-Jun	Paid rent for June, $4000	1 pt.
3-Jun	Purchased merchandise on account from ABC Company for $10000
	Terms 2/10, n/30, FOB shipping point.
	We were billed $150 for shipping which was added to our invoice.			3 pts.
4-Jun	Returned $2000 of the merchandise purchased on June 3 from ABC Company.
				2 pts
6-Jun	Sold $15000 of Merchandise on account to EFG Company, terms 1/20, n/30,
	FOB shipping point.The cost of merchandise sold was $5000 and we
	paid $250 for shipping which was billed and added to the customer's invoice.
				3 pts.
7-Jun	EFG company returned $1500 of the merchandise purchased on June 6.
	The cost of merchandise sold was $1000		2 pts.
8-Jun	Paid Misc. Selling Expense of $500 and Misc. Administrative Expense of $100
				2 pts.
9-Jun	Purchased on account $350 of Store Supplies.		2 pts.
13-Jun	Paid ABC Company for the purchase made on June 3rd, less the return of June 4th
		3 pts.
16-Jun	Purchased store supplies for $100 cash.		2 pts.
17-Jun	Received cash from EFG Company for the sale of June 6,
	less the return of June 7th.			3 pts.
25-Jun	Paid Sales Salaries Expense of $650 and Office Salaries Expense of $750
				2 pts.
30-Jun	Owner withdrew $500		1 pt.