Jeremiah Restoration Company completed the following selected transactions during January: Jan. 1. Established a petty cash fund of $750.
12. The cash sales for the day, according to the cash register records, totaled $11,494. The actual cash received from cash sales was $11,519.
31. Petty cash on hand was $157. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:
Jan. 3. Store supplies, $398.
7. Express charges on merchandise sold, $32 (Delivery Expense).
9. Office supplies, $16.
13. Office supplies, $18.
19. Postage stamps, $13 (Office Supplies).
21. Repair to office file cabinet lock, $11 (Miscellaneous Administrative Expense).
22. Postage due on special delivery letter, $27 (Miscellaneous Administrative Expense).
24. Express charges on merchandise sold, $52 (Delivery Expense).
30. Office supplies, $8.
Jan. 31. The cash sales for the day, according to the cash register records, totaled $18,255. The actual cash received from cash sales was $18,215.
31. Decreased the petty cash fund by $110.
Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTS
Jeremiah Restoration Company
General Ledger
ASSETS
110 Cash
111 Petty Cash
120 Accounts Receivable
131 Notes Receivable
132 Interest Receivable
141 Merchandise Inventory
145 Office Supplies
146 Store Supplies
151 Prepaid Insurance
181 Land
191 Office Equipment
192 Accumulated Depreciation-Office Equipment
193 Store Equipment
194 Accumulated Depreciation-Store Equipment
LIABILITIES
210 Accounts Payable
221 Notes Payable
222 Interest Payable
231 Salaries Payable
241 Sales Tax Payable
EQUITY
310 Owner, Capital
311 Owner, Drawing
312 Income Summary
REVENUE
410 Sales
610 Interest Revenue
EXPENSES
510 Cost of Merchandise Sold
515 Credit Card Expense
516 Cash Short and Over
520 Salaries Expense
531 Advertising Expense
532 Delivery Expense
533 Insurance Expense
534 Office Supplies Expense
535 Rent Expense
536 Repairs Expense
537 Selling Expenses
538 Store Supplies Expense
561 Depreciation Expense-Office Equipment
562 Depreciation Expense-Store Equipment
591 Miscellaneous Administrative Expense
592 Miscellaneous Selling Expense
710 Interest Expense
Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.
PAGE 1
JOURNAL
ACCOUNTING EQUATION
DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16