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3 years ago

LEDGER ENTRIES Illustration Two

Social Studies

1 answer:

ololo11 [35]3 years ago

4 0

The transactions are entered in their appropriate ledgers in the books of Jones David as follows:

<h3>Bank Account</h3>

Date Account Titles Debit Credit

July 1 Capital, Jones David N50,000

July 1 Office furniture and equipment N18,000

July 2 Inventory N12,750

July 4 Accounts Receivable

(Hephzibah) N6,230

July 4 Cash N5,000

July 7 Rent N6,000

July 7 Cash N8,674

July 12 Accounts Payable (Deborah) N3,150

July 13 Telephone N1,250

July 15 Accounts Receivable

(Rebecca) $4,300

July 15 Cash N2,074

July 20 Drawings N1,750

July 24 Sales Revenue N6,250

July 25 Salaries N5,560

July 26 Accounts Payable (Sinuola) N7,124

July 27 Accounts Receivable

(Williams) N4,874

<h3>Cash Account</h3>

Date Account Titles Debit Credit

July 4 Bank N5,000

July 5 Stationery N776

July 6 Sales Revenue N2,334

July 7 Sales Revenue N4,730

July 7 Bank N8,674

July 9 Sales Revenue N5,574

July 12 Freight N150

July 14 Inventory N2,224

July 15 Bank N2,074

July 16 Accounts Receivable

(Sweetness) N2,682

July 23 Transport N270

July 23 Cleaning N600

July 24 Sales Revenue N990

July 29 Electricity N428

July 30 Stationery N1,700

July 30 Sales Revenue N2,434

<h3>Accounts Receivable</h3>

Date Account Titles Debit Credit

July 3 Sales Revenue N7,000

July 4 Bank N6,230

July 4 Cash discount N68

July 13 Sales Revenue N5,200

July 14 Sales Revenue N3,400

July 15 Bank N4,300

July 15 Cash discount N90

July 16 Cash N2,682

July 26 Sales Revenue N5,850

July 27 Bank N4,874

July 27 Cash discount N126

<h3>Inventory</h3>

Date Account Titles Debit Credit

July 2 Bank N12,750

July 6 Accounts Payable (Deborah) N3,250

July 8 Accounts Payable (Deborah) N1,000

July 14 Cash N2,224

July 25 Accounts Payable (Sinuola) N8,900

<h3>Stationery</h3>

Date Account Titles Debit Credit

July 5 Cash N776

July 30 Cash N1,700

<h3>Office Furniture and Equipment</h3>

Date Account Titles Debit Credit

July 1 Bank N18,000

Date Account Titles Debit Credit

July 7 Cash N6,000

<h3>Freight</h3>

Date Account Titles Debit Credit

July 12 Cash N150

<h3>Telephone</h3>

Date Account Titles Debit Credit

July 13 Bank N1,250

<h3>Drawings</h3>

Date Account Titles Debit Credit

July 20 Bank N1,750

<h3>Transport</h3>

Date Account Titles Debit Credit

July 23 Cash N270

<h3>Cleaning</h3>

Date Account Titles Debit Credit

July 23 Cash N600

<h3>Salaries</h3>

Date Account Titles Debit Credit

July 25 Bank N5,560

<h3>Electricity</h3>

Date Account Titles Debit Credit

July 29 Cash N428

<h3>Capital, Jones David</h3>

Date Account Titles Debit Credit

July 1 Bank N50,000

<h3>Accounts Payable</h3>

Date Account Titles Debit Credit

July 6 Inventory N3,250

July 8 Inventory N1,000

July 12 Bank N3,150

July 12 Cash Discounts N100

July 25 Inventory N8,900

July 26 Bank N7,124

July 26 Cash Discounts N1,500

<h3>Sales Revenue</h3>

Date Account Titles Debit Credit

July 3 Accounts Receivable (Hephzibah) N7,000

July 6 Cash N2,334

July 7 Cash N4,730

July 9 Cash N5,574

July 13 Accounts Receivable (Rebecca) N5,200

July 14 Accounts Receivable (Sweetness) N3,400

July 24 Bank N6,250

July 24 Cash N990

July 26 Accounts Receivable (Williams) N5,850

July 30 Cash N2,434

<h3>Cash Discounts Expenses</h3>

Date Account Titles Debit Credit

July 4 Accounts Receivable (Hephzibah) N68

July 15 Accounts Receivable (Rebecca ) $90

July 27 Accounts Receivable (Williams) N126

<h3>Cash Discounts Received</h3>

Date Account Titles Debit Credit

July 12 Accounts Payable (Deborah) N100

July 26 Accounts Payable (Sinuola) N1,500

<h3>Transactions Analysis:</h3>

July 1 Bank N50,000 Capital, Jones David N50,000

July 1 Office furniture and equipment N18,000 Bank N18,000

July 2 Inventory N12,750 Bank N12,750

July 3 Accounts Receivable (Hephzibah) N7,000 Sales Revenue N7,000

July 4 Bank N6,230 Cash discount N68 Accounts Receivable (Hephzibah) N6,298

July 4 Cash N5,000 Bank N5,000

July 5 Stationery N776 Cash N776

July 6 Cash N2,334 Sales Revenue N2,334

July 6 Inventory N3,250 Accounts Payable (Deborah) N3,250

July 7 Rent N6,000 Bank N6,000

July 7 Cash N4,730 Sales Revenue N4,730

July 7 Bank N8,674 Cash N8,674

July 8 Inventory N1,000 Accounts Payable (Deborah) N1,000

July 9 Cash N5,574 Sales Revenue N5,574

July 12 Accounts Payable (Deborah) N3,250 Bank N3,150 Cash Discounts N100

July 12 Freight N150 Cash N150

July 13 Accounts Receivable (Rebecca) N5,200 Sales Revenue N5,200

July 13 Telephone N1,250 Bank N1,250

July 14 Accounts Receivable (Sweetness) N3,400 Sales Revenue N3,400

July 14 Inventory N2,224 Cash N2,224

July 15 Bank N4,300 Cash discount N90 Accounts Receivable (Rebecca) $4,390

July 15 Bank N2,074 Cash N2,074

July 16 Cash N2,682 Accounts Receivable (Sweetness) N2,682

July 20 Drawings N1,750 Bank N1,750

July 23 Transport N270 Cash N270

July 23 Cleaning N600 Cash N600

July 24 Bank N6,250 Sales Revenue N6,250

July 24 Cash N990 Sales Revenue N990

July 25 Inventory N8,900 Accounts Payable (Sinuola) N8,900

July 25 Salaries N5,560 Bank N5,560

July 26 Accounts Receivable (Williams) N5,850 Sales Revenue N5,850

July 26 Accounts Payable (Sinuola) N8,624 Bank N7,124 Cash Discounts N1,500

July 27 Bank N4,874 Cash discount N126 Accounts Receivable (Williams) N5,000

July 29 Electricity N428 Cash N428

July 30 Stationery N1,700 Cash N1,700

July 30 Cash N2,434 Sales Revenue N2,434

Learn more about posting ledger entries here: brainly.com/question/5374498

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