ACCT202 Practice Set Winter 2015 (A+ Guaranteed)

JUNE JOURNAL TRANSACTIONS

 

June 1  Signed a 3 year 7.5% , $200000 note payable with First Bank.

June 1  Purchased 3000 GPS units on credit from Navistar for $36 per unit.

June 1  Issued 5,500 shares of common stock for $11 per share (Refer to General Ledger for descriptionOf common stock).

June 1  Sold 2000 DVD players on account to Toyota for $76 per unit, Invoice #5555

June 2  Sold 3500 GPS units on account to Kia for $53 per unit, Invoice #5556.

June 2  Purchased office supplies from Office Max on credit for $1200

June 2  Sold 900 docking stations for $64 per unit and 1950 GPS units for $83 per unit on account to Nissan, Invoice #5557.

June 3  The Board of Directors declared a cash dividend of $5 per share for shareholders of record on June 5th, payable on June 12th .

June 4  Received payment from Toyota for May 11th sale.

June 4  Rented part of the warehouse to a new tenant and received $5400 for three months Rent starting in June

June 5  Paid $2,100 to Michigan Utility Co. for utilities bill that was recorded in May as an Account  Payable, Check #5278.

June 7  Received and paid expense reports for travel and entertainment totaling $925, Check #5279.

June 8  Paid for Office supplies purchased on June 2nd , Check #5280.

June 11  Paid in full for the June 1 purchase from Navistar, Check #5281.

June 11  Received a bill from the law firm of Larry, Moe & Curly for $5400, payable upon  Receipt, for bond consulting fees, Check #5282.

June 12  Paid the dividend that was declared on June 3, Check #5283.

*******AND SO ON****************

Check Figures

Sale Journal - CGS Debt - $586,600
Purchases Journal - Inventory Debt - $367,650
Cash Receipts Journal - Cash - Debit - $1,314,530
Cash Payments Journal - Cash - Credit - $891,945
Unadjusted Trial Balance - ToTal - $5,689,275

Here's the SOLUTION
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