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ABM01

The document contains journal entries recording various financial transactions over a period for a business including cash receipts, cash payments, purchases, sales, returns, expenses and payroll. Debits and credits are recorded for accounts such as cash, sales, inventory, accounts payable and other general ledger accounts.

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reznie
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42 views2 pages

ABM01

The document contains journal entries recording various financial transactions over a period for a business including cash receipts, cash payments, purchases, sales, returns, expenses and payroll. Debits and credits are recorded for accounts such as cash, sales, inventory, accounts payable and other general ledger accounts.

Uploaded by

reznie
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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CASH RECEIPTS/SALES JOURNAL

DATE ACCT DR CASH DR SALES CR ACCOUNTS CR SALES


DISCOUNTS
6-Dec 3,000.00 3,000.00
7-Dec D 1,940.00 60.00 2,000.00
12-Dec 4,200.00 4,200.00
TOTALS 9,140.00 60.00 2,000.00 7,200.00

CASH DISBURSEMENT J0URNAL


DATE ACCOUNT DR ACCOUNTS PAYABLE DR OTHER CR MDSE INVENTORY CR CASH
2-Dec RENT EXPENSE 600 600
14-Dec H 2450 50 2500
15-Dec SALARIES&WAGES 1000 1000
TOTALS 2450 1600 50 4100

PURCHASE JOURNAL
DATE VENDOR DR MERCHANDISE INVENTORY
CR ACCOUNTS PAYABLE
5-Dec H 2500
2500
TOTALS 5000
JOURNAL ENTRY

DATE PARTICULARS DEBIT CREDIT


2019
DEC 1 CASH 15000
MERCHANDISE 2500
MR. P , CAPITAL INITIAL INVESTMENTS 17500

2 RENT EXPENSE 600


CASH 600
PAID RENT

4 MERCHANDISE 5000
CASH 5000
PURCHASED MERCHANDISE

5 MERCHANDISE 2500
ACCOUNTS PAYABLE 2500
PUCHASED MERCHANDISE ON ACCOUNT FROM H,TERMS:2/10,N/30

6 CASH 3000
SALES 3000
SOLD MERCHANDISE FOR CASH

7 ACCOUNTS RECEIVABLE 2000


SALES 2000

8 SALES RETURNS & ALLOWANCES 200


ACCOUNTS RECEIVABLE 200
RETURNED MERCHANDISE PREVIOUSLY PURCHASED ON ACCOUNT

12 CASH 4200
SALES 4200
REVENUE

14 ACCOUNTS PAYABLE 2450


CASH 2450
PAID ACCOUNT TO H

15 SALARIES & WAGES 1000


CASH 1000
PAID SALARIES OF EMPLOYEES

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