Part 3 General Ledger (LO3-2) Post the information from the journal entries into the general ledger and calculate balances.

customers are charged $87 per hour for services

customers are charged $75 for each unit of retail purchased

Inventory is purchased by the company for $36 per unit

Journal entries:

	Date	Account title and explanation	Debit	Credit
1	Dec.1	Cash	$115,000
		Notes payable		$115,000
		[To record borrowing in exchange of notes]
2	Dec.1	Buildings	$62,000
		Cash		$62,000
		[To record purchase of buildings]
3	Dec.1	Cash	$4,350
		Unearned revenue		$4,350
		[To record sale of gift cards]
4	Dec.1	Cash	$96,000
		Common stock [16,000 x $6]		$96,000
		[To record issuance of common stock]
5	Dec.1	Inventory	$14,400
		Accounts payable [400 x $36]		$14,400
		[To record purchase of inventory on account]
6	Dec.1	Vehicle	$21,000
		Cash		$21,000
		[To record purchase of vehicle]
7	Dec.1	Prepaid insurance	$6,000
		Cash		$6,000
		[To record payment of insurance for one year in advance]
8	Dec.3	Notes receivable	$15,000
		Sales revenue [200 x $75]		$15,000
		[To record sales revenue]
		Cost of goods sold	$7,200
		Inventory [200 x $36]		$7,200
		[To record cost of goods sold]
9	Dec.3	Supplies	$3,200
		Accounts payable		$3,200
		[To record purchase of supplies on account]
10	Dec.6	Unearned revenue	$3,480
		Service revenue [40 hours x $87]		$3,480
		[To record service revenue]
11	Dec.8	Accounts payable	$14,400
		Cash		$13,968
		Inventory [14,400 x 3%]		$432
		[To record payment for accounts payable]
12	Dec.10	Inventory	$8,640
		Cash [240 x $36]		$8,640
		[To record purchase of inventory by cash]
13	Dec.12	Accounts receivable	$7,500
		Sales revenue [100 x $75]		$7,500
		[To record sales revenue]
		Cost of goods sold	$3,600
		Inventory [100 x $36]		$3,600
		[To record cost of goods sold]
14	Dec.20	Cash	$7,350
		Sales discount [7,500 x 2%]	$150
		Accounts receivable		$7,500
		[To record collections from customers]
15	Dec.23	Accounts receivable	$13,500
		Sales revenue [180 x $75]		$13,500
		[To record sales revenue]
		Cost of goods sold	$6,480
		Inventory		$6,480
		[To record cost of goods sold]
16	Dec.31	Notes payable	$1,330
		Interest expense [115,000 x 6% x (1/12)]	$575
		Cash		$1,905
		[To record installment payment on note ]
17	Dec.31	Salaries expense	$4,000
		Cash		$4,000
		[To record payment of salaries expense]
18	Dec.31	Cash dividends	$1,600
		Cash [16,000 x $0.10]		$1,600
		[To record payment of cash dividends]
19	Dec.31	Cash	23000
		Depreciation expense [(21,000-3,000)/5] x 1/12	$300
		Vehicle		$21,000
		Gain on sale of vehicle		$2,300
		[To record sale of vehicle]

General Ledger Cash Interest Payable laterest Receivable Debit Credit Notes Receivable De Creder Accounts Payable Credit Debar Credor Common Stock The Credit Ta Dalam Tonal Trial Balance Tata' la Nalane Final Tra Hala Tona Tal Rabac Total dazed Trial Balance Total Adjusted Trial Balance Total Mand Teal Balance TOR! Adred Trial Balance Total Add Trial Balance Total Trial Balance Total Income Taxes Payable Supplies Debit Chundit Buildings Dede Credit Deferred Revenue Debit Credit Retained Earnings The Credit Adjusted Thal Balance Total Trial Balance Toral Trial Balance Total Trial Balance Total Tal Balance Total Tu Ralance Total Accounts Receivable Debir Credor Adsted Trial Balance Total Adwted Tal Balance Total Adred Trial Balance Total Adimtad Wal Balance Total Adjusted Twal Balance Total Trial Balance Total Prepaid Insurance Debit Credit Vehicles Debir Credit Warranty Linbility Debit Credit Adjusted Trial Balance Total Post Class Toral Twal Balance Total Trial Balance Total Salaries Payable Dhe Cheder Trial Balance Total Added Trial Balance Totul Adprted Trial Balance Total Adred Trial Balance Torel Allowance for Uncollectible Accounts Deber Credir Tallalance tal Dividends Debur Credar Accumulated Depreciation Inventory Derbi Credit Adjusted Twal Balance Total Notes Payable Debit Credit De Cred Trial Balance Total Trial Balance Total Trial Balance Total Trial Balance Total Adid Trial Balance Total Adjunted Trial Balance Total Tral Blue Total A Trio Balance Total Adsted Trial Balance Total 1. Pour Closing Total Add Trial al Total General Ledger Cash Interest Payable laterest Receivable Debit Credit Notes Receivable De Creder Accounts Payable Credit Debar Credor Common Stock The Credit Ta Dalam Tonal Trial Balance Tata' la Nalane Final Tra Hala Tona Tal Rabac Total dazed Trial Balance Total Adjusted Trial Balance Total Mand Teal Balance TOR! Adred Trial Balance Total Add Trial Balance Total Trial Balance Total Income Taxes Payable Supplies Debit Chundit Buildings Dede Credit Deferred Revenue Debit Credit Retained Earnings The Credit Adjusted Thal Balance Total Trial Balance Toral Trial Balance Total Trial Balance Total Tal Balance Total Tu Ralance Total Accounts Receivable Debir Credor Adsted Trial Balance Total Adwted Tal Balance Total Adred Trial Balance Total Adimtad Wal Balance Total Adjusted Twal Balance Total Trial Balance Total Prepaid Insurance Debit Credit Vehicles Debir Credit Warranty Linbility Debit Credit Adjusted Trial Balance Total Post Class Toral Twal Balance Total Trial Balance Total Salaries Payable Dhe Cheder Trial Balance Total Added Trial Balance Totul Adprted Trial Balance Total Adred Trial Balance Torel Allowance for Uncollectible Accounts Deber Credir Tallalance tal Dividends Debur Credar Accumulated Depreciation Inventory Derbi Credit Adjusted Twal Balance Total Notes Payable Debit Credit De Cred Trial Balance Total Trial Balance Total Trial Balance Total Trial Balance Total Adid Trial Balance Total Adjunted Trial Balance Total Tral Blue Total A Trio Balance Total Adsted Trial Balance Total 1. Pour Closing Total Add Trial al Total