Special Journals Exercise (Each journal, ledger, schedule: 5 marks each) Total: ____ / 95

Record the July 2020 entries for each transaction in the proper journal.

July 1 Paid months rent, Check no #330 $850.00

3 Sold Merchandise on account (Canon) Invoice #129 $750.00

4 Purchased merchandise on account (Vivitar) Invoice #84 $910.00

7 Invested additional cash in business $1200.00

8 Withdrew for personal use, Check no #331 $400.00

11 Paid Vivitar on account, Check no #332 $750.00

12 Sold Merchandise on account (Nikon) Invoice 130 $900.00

14 Bi-weekly cash sales $730.00

15 Paid employees salary, Check no #333 $825.00

17 Received cash from Canon (on account) $600.00

20 Purchased merchandise on account (Sun) Invoice #85 $730.00

22 Purchased merchandise on account (Vivitar) Invoice #86 $680.00

25 Withdrew for personal use, Check no #334 $900.00

27 Paid Sun on account, Check no #335 $600.00

28 Bi-weekly cash sales $850.00

29 Received cash from Nikon (on account) $550.00

30 Paid employees salary, Check no #336 $825.00

1. Total, balance, and rule all special journals.
2. Post the column totals as indicated in the headings of each special column (all journals) and then the individual entries from the cash disbursements and cash receipts journals. to the General Ledger.
3. Post individual amounts to the subsidiary ledgers.
4. Prepare a schedule of Accounts Payable and Accounts Receivable for the Owner, John Davis on July 31, 2020. (Blank schedules on Page 12)

Purchases Journal

Sales Journal

Cash Disbursements Journal

Cash Receipts Journal

AR Sub Ledger (Customers)

Canon

Nikon Dr Cr Dr Bal

AP Sub Ledger (Vendors)

SUN

Vivitar Dr Cr Cr Bal

General Ledger

Cash No: 101

Accounts Receivable No: 102

Accounts Payable No: 201

John Davis, Capital No: 301

John Davis, Drawings No: 302

Sales No: 401

Purchases No: 501

Rent Expense No: 502

Salary Expense No: 503

Schedule of Accounts Receivable

July 31, 2020

Schedule of Accounts Payable

July 31, 2020