C5 - 1 SELLING BUYING Special Journals Special Journals
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C5 - 1
SELLING
BUYING
Special JournalsSpecial Journals
C5 - 2
Rendering of services on account
SELLING
Revenue JournalRevenue Journalrecorded in
BUYING
Special JournalsSpecial Journals
C5 - 3
Rendering of services on account
SELLING
Revenue JournalRevenue Journal
Cash Receipts JournalCash Receipts Journal
Receipt of cash from any source
recorded in
recorded in
BUYING
Special JournalsSpecial Journals
C5 - 4
Rendering of services on account
SELLING
Revenue JournalRevenue Journal
Cash Receipts JournalCash Receipts Journal
Purchases JournalPurchases Journal
Receipt of cash from any source
Purchase of items on account
recorded in
recorded in
recorded in
BUYING
Special JournalsSpecial Journals
C5 - 5
Special JournalsSpecial Journals
Rendering of services on account
SELLING
Revenue JournalRevenue Journal
Cash Receipts JournalCash Receipts Journal
Purchases JournalPurchases Journal
Cash Payments JournalCash Payments Journal
Receipt of cash from any source
Purchase of items on account
Payment of cash for any purpose
recorded in
recorded in
recorded in
recorded in
BUYING
C5 - 6
3/2 615 MyMusicClub.com 2,2003/6 616 RapZone.com 1,7503/18 617 Web Cantina 2,6503/27 618 MyMusicClub.com 3,000
Totals 9,600
Revenue Journal Invoice Post Accts. Rec. – DebitDate No. Account Debited Ref. Fees Earned – Credit
Page 35
The Revenue JournalThe Revenue Journal
All sales on account are recorded in this journal. Each sales invoice is listed in numerical order. This journal is often referred to as an invoice register.
C5 - 7
Accounts Receivable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
MyMusicClub.com
Each debit is posted to the accounts receivable subsidiary ledger.
Posting to the Subsidiary LedgerPosting to the Subsidiary LedgerRevenue Journal
Invoice Post Accts. Rec. – DebitDate No. Account Debited Ref. Fees Earned – Credit
Page 35
3/2 615 MyMusicClub.com 2,2002,2003/6 616 RapZone.com 1,7501,7503/18 617 Web Cantina 2,6502,6503/27 618 MyMusicClub.com 3,0003,000
Totals 9,600
C5 - 8
Accounts Receivable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
MyMusicClub.com
3/2 R35 2,200 2,200
Each debit is posted to the accounts receivable subsidiary ledger.
Posting to the Subsidiary LedgerPosting to the Subsidiary LedgerRevenue Journal
Invoice Post Accts. Rec. – DebitDate No. Account Debited Ref. Fees Earned – Credit
Page 35
3/2 615 MyMusicClub.com 2,2002,2003/6 616 RapZone.com 1,7501,7503/18 617 Web Cantina 2,6502,6503/27 618 MyMusicClub.com 3,0003,000
Totals 9,600
C5 - 9
Accounts Receivable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
MyMusicClub.com
3/1 R35 2,200 2,2003/27 R35 3,000 5,200
Each debit is posted to the accounts receivable subsidiary ledger.
Posting to the Subsidiary LedgerPosting to the Subsidiary LedgerRevenue Journal
Invoice Post Accts. Rec. – DebitDate No. Account Debited Ref. Fees Earned – Credit
Page 35
3/2 615 MyMusicClub.com 2,2002,2003/6 616 RapZone.com 1,7501,7503/18 617 Web Cantina 2,6502,6503/27 618 MyMusicClub.com 3,0003,000
Totals 9,600
C5 - 10
General Ledger
Date Item P.R. Debit Credit Balance
Account: Accounts Receivable No. 12
3/1 Bal 3,400
The total is posted to Accounts Receivable AND to Fees Earned.
Posting to the General LedgerPosting to the General LedgerRevenue Journal
Invoice Post Accts. Rec. – DebitDate No. Account Debited Ref. Fees Earned – Credit
Page 35
3/2 615 MyMusicClub.com 2,2003/6 616 RapZone.com 1,7503/18 617 Web Cantina 2,6503/27 618 MyMusicClub.com 3,000
Totals 9,6009,600
C5 - 11
General Ledger
Date Item P.R. Debit Credit Balance
Account: Accounts Receivable No. 12
The total is posted to Accounts Receivable AND to Fees Earned.
Posting to the General LedgerPosting to the General LedgerRevenue Journal
Invoice Post Accts. Rec. – DebitDate No. Account Debited Ref. Fees Earned – Credit
Page 35
3/1 Bal 3,4003/31 R35 9,6009,600 13,000
3/2 615 MyMusicClub.com 2,2003/6 616 RapZone.com 1,7503/18 617 Web Cantina 2,6503/27 618 MyMusicClub.com 3,000
Totals 9,6009,600
(12) (41)
C5 - 12
3/1 Rent Revenue 400 4003/19 Web Cantina 3,400 3,4003/28 MyMusicClub.com 2,200 2,2003/30 RapZone.com 1,750 1,750
Totals 400 7,350 7,750
Cash Receipts JournalOther Accounts
Post Accounts Receivable CashDate Account Credited Ref. Credit Credit Debit
Page 14
The Cash Receipts JournalThe Cash Receipts Journal
All cash received from any source is recorded in this journal. The total Cash Debit column equals the total of the two credit columns.
C5 - 13
3/1 Rent Revenue 400 4003/19 Web Cantina 3,4003,400 3,4003/28 MyMusicClub.com 2,2002,200 2,2003/30 RapZone.com 1,7501,750 1,750
Totals 400 7,350 7,750
Accounts Receivable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
Web Cantina
Each Accounts Receivable credit is posted to the accounts receivable subsidiary ledger.
Cash Receipts JournalOther Accounts
Post Accounts Receivable CashDate Account Credited Ref. Credit Credit Debit
Page 14
Posting to the Subsidiary LedgerPosting to the Subsidiary Ledger
3/1 Bal 3,4003/27 R35 2,650 6,050
C5 - 14
Accounts Receivable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
Web Cantina
Each Accounts Receivable credit is posted to the accounts receivable subsidiary ledger.
Cash Receipts JournalOther Accounts
Post Accounts Receivable CashDate Account Credited Ref. Credit Credit Debit
Page 14
Posting to the Subsidiary LedgerPosting to the Subsidiary Ledger
3/1 Bal 3,4003/18 R35 2,650 6,0503/19 CR14 3,4003,400 2,650
3/1 Rent Revenue 400 4003/19 Web Cantina 3,4003,400 3,4003/28 MyMusicClub.com 2,2002,200 2,2003/30 RapZone.com 1,7501,750 1,750
Totals 400 7,350 7,750
C5 - 15
The three highlighted items are posted to the general ledger.
Cash Receipts JournalOther Accounts
Post Accounts Receivable CashDate Account Credited Ref. Credit Credit Debit
Page 14
Posting to the General LedgerPosting to the General Ledger
3/1 Rent Revenue 400400 4003/19 Web Cantina 3,400 3,4003/28 MyMusicClub.com 2,200 2,2003/30 RapZone.com 1,750 1,750
Totals 400 7,3507,350 7,7507,750
( )
General Ledger
Date Item P.R. Debit Credit Balance
Account: Accounts Receivable No. 12
3/1 Bal 3,4003/31 R35 9,600 13,000
C5 - 16
The three highlighted items are posted to the general ledger.
Cash Receipts JournalOther Accounts
Post Accounts Receivable CashDate Account Credited Ref. Credit Credit Debit
Page 14
Posting to the General LedgerPosting to the General Ledger
3/1 Rent Revenue 42 400400 4003/19 Web Cantina 3,400 3,4003/28 MyMusicClub.com 2,200 2,2003/30 RapZone.com 1,750 1,750
Totals 400 7,3507,350 7,7507,750
( ) (12) (11)
General Ledger
Date Item P.R. Debit Credit Balance
Account: Accounts Receivable No. 12
3/1 Bal 3,4003/31 R35 9,600 13,0003/31 CR14 7,3507,350 5,650
C5 - 17
General LedgerAccounts
Receivable Control Account
Date Item P.R. Debit Credit Balance
Account: Accounts Receivable No. 12
3/1 Bal. 3,4003/31 R35 9,600 13,0003/31 CR14 7,350 5,6505,650
If the accounts receivable account in the general ledger only shows summary totals, where are the individual customer balances?
C5 - 18
MyMusicClub.comDate Item P.R. Debit Credit Balance
RapZone.com
3/6 R35 1,750 1,7503/30 CR14 1,750 00
Date Item P.R. Debit Credit Balance
Web CantinaDate Item P.R. Debit Credit Balance
3/2 R35 2,200 2,2003/27 R35 3,000 5,2003/28 CR14 2,200 3,0003,000
3/1 Bal. 3,4003/18 R35 2,650 6,0503/19 CR14 3,400 2,6502,650
General LedgerAccounts
Receivable Control Account
Date Item P.R. Debit Credit Balance
Account: Accounts Receivable No. 12
3/1 Bal. 3,4003/31 R35 9,600 13,0003/31 CR14 7,350 5,6505,650
Accounts Receivable Subsidiary
Ledger
C5 - 19
MyMusicClub.comDate Item P.R. Debit Credit Balance
RapZone.com
3/6 R35 1,750 1,7503/30 CR14 1,750 00
Date Item P.R. Debit Credit Balance
Web CantinaDate Item P.R. Debit Credit Balance
3/2 R35 2,200 2,2003/27 R35 3,000 5,2003/28 CR14 2,200 3,0003,000
3/1 Bal. 3,4003/18 R35 2,650 6,0503/19 CR14 3,400 2,6502,650
General LedgerAccounts
Receivable Control Account
Date Item P.R. Debit Credit Balance
Account: Accounts Receivable No. 12
3/1 Bal. 3,4003/31 R35 9,600 13,0003/31 CR14 7,350 5,6505,650
Accounts Receivable Subsidiary
Ledger
C5 - 20
3/3 Howard Supplies 600 600 3/7 Donnelly Supplies 420 420 3/12 Jewett Bus. Syst. 2,800 Office Equip. 2,8003/19 Donnelly Supplies 1,450 1,450 3/27 Howard Supplies 960 960
Totals 6,230 3,430 2,800
Purchases JournalAccts. Other
Post Payable Supplies Accounts PostDate Account Credited Ref. Credit Debit Debit Ref. Amount
Page 11
The Purchases JournalThe Purchases Journal
All purchases on account are recorded in this journal. The total credits to Accounts Payable equals the total of the two debit columns.
C5 - 21
Purchases JournalAccts. Other
Post Payable Supplies Accounts PostDate Account Credited Ref. Credit Debit Debit Ref. Amount
Page 11
Accounts Payable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
Howard Supplies
Each credit is posted to the accounts payable subsidiary ledger.
Posting to the Subsidiary LedgerPosting to the Subsidiary Ledger
3/3 Howard Supplies 600600 600 3/7 Donnelly Supplies 420420 420 3/12 Jewett Bus. Syst. 2,8002,800 Office Equip. 2,8003/19 Donnelly Supplies 1,4501,450 1,450 3/27 Howard Supplies 960960 960
Totals 6,230 3,430 2,800
C5 - 22
Purchases JournalAccts. Other
Post Payable Supplies Accounts PostDate Account Credited Ref. Credit Debit Debit Ref. Amount
Page 11
Accounts Payable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
Howard Supplies
Each credit is posted to the accounts payable subsidiary ledger.
Posting to the Subsidiary LedgerPosting to the Subsidiary Ledger
3/3 P11 600600 600
3/3 Howard Supplies 600600 600 3/7 Donnelly Supplies 420420 420 3/12 Jewett Bus. Syst. 2,8002,800 Office Equip. 2,8003/19 Donnelly Supplies 1,4501,450 1,450 3/27 Howard Supplies 960960 960
Totals 6,230 3,430 2,800
C5 - 23
Purchases JournalAccts. Other
Post Payable Supplies Accounts PostDate Account Credited Ref. Credit Debit Debit Ref. Amount
Page 11
Accounts Payable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
Howard Supplies
Each credit is posted to the accounts payable subsidiary ledger.
Posting to the Subsidiary LedgerPosting to the Subsidiary Ledger
3/3 P11 600 6003/27 P11 960960 1,560
3/3 Howard Supplies 600600 600 3/7 Donnelly Supplies 420420 420 3/12 Jewett Bus. Syst. 2,8002,800 Office Equip. 2,8003/19 Donnelly Supp. 1,4501,450 1,450 3/27 Howard Supplies 960960 960
Totals 6,230 3,430 2,800
C5 - 24
Date Item P.R. Debit Credit BalanceAccount: Accounts Payable No. 21
General Ledger
3/1 Bal. 1,230
The highlighted items are posted to the general ledger.
Posting to the General LedgerPosting to the General Ledger
Purchases JournalAccts. Other
Post Payable Supplies Accounts PostDate Account Credited Ref. Credit Debit Debit Ref. Amount
Page 11
3/3 Howard Supplies 600 600 3/7 Donnelly Supplies 420 420 3/12 Jewett Bus. Syst. 2,800 Office Equip. 2,8002,8003/19 Donnelly Supp. 1,450 1,450 3/27 Howard Supplies 960 960
Totals 6,2306,230 3,4303,430 2,800
Date Item P.R. Debit Credit Balance
C5 - 25
Date Item P.R. Debit Credit BalanceAccount: Accounts Payable No. 21
General Ledger
3/1 Bal. 1,2303/31 P11 6,2306,230 7,460
The highlighted items are posted to the general ledger.
Posting to the General LedgerPosting to the General Ledger
Purchases JournalAccts. Other
Post Payable Supplies Accounts PostDate Account Credited Ref. Credit Debit Debit Ref. Amount
Page 11
3/3 Howard Supplies 600 600 3/7 Donnelly Supplies 420 420 3/12 Jewett Bus. Syst. 2,800 Office Equip. 18 2,8002,8003/19 Donnelly Supp. 1,450 1,450 3/27 Howard Supplies 960 960
Totals 6,2306,230 3,4303,430 2,800
( 21) (14) ( )
Date Item P.R. Debit Credit Balance
C5 - 26
3/2 150 Rent Expense 1,600 1,6003/15 151 Grayco Supplies 1,230 1,2303/21 152 Jewett Bus. Syst. 2,800 2,8003/22 153 Donnelly Supp. 420 4203/30 154 Utilities Expense 1,050 1,0503/31 155 Howard Supplies 600 600
Totals 2,650 5,050 7,700
Cash Payments JournalOther Accounts
Ck. Post Accounts Payable CashDate No. Account Debited Ref. Debit Debit Credit
Page 7
The Cash Payments JournalThe Cash Payments Journal
All cash payments are recorded in this journal. Every check is listed in numerical order. This journal is often referred to as a check register.
C5 - 27
3/2 150 Rent Expense 1,600 1,6003/15 151 Grayco Supplies 1,2301,230 1,2303/21 152 Jewett Bus. Syst. 2,8002,800 2,8003/22 153 Donnelly Supp. 420420 4203/30 154 Utilities Expense 1,050 1,0503/31 155 Howard Supplies 600600 600
Totals 2,650 5,050 7,700
Cash Payments JournalOther Accounts
Ck. Post Accounts Payable CashDate No. Account Debited Ref. Debit Debit Credit
Page 7
Accounts Payable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
Grayco Supplies
3/1 Bal. 1,230
Each Accounts Payable debit is posted to the accounts payable subsidiary ledger.
Posting to the Subsidiary LedgerPosting to the Subsidiary Ledger
C5 - 28
3/2 150 Rent Expense 1,600 1,6003/15 151 Grayco Supplies 1,2301,230 1,2303/21 152 Jewett Bus. Syst. 2,8002,800 2,8003/22 153 Donnelly Supp. 420420 4203/30 154 Utilities Expense 1,050 1,0503/31 155 Howard Supplies 600600 600
Totals 2,650 5,050 7,700
Cash Payments JournalOther Accounts
Ck. Post Accounts Payable CashDate No. Account Debited Ref. Debit Debit Credit
Page 7
Accounts Payable Subsidiary Ledger
Date Item P.R. Debit Credit Balance
Grayco Supplies
3/1 Bal. 1,2303/15 CP7 1,2301,230 0
Each Accounts Payable debit is posted to the accounts payable subsidiary ledger.
Posting to the Subsidiary LedgerPosting to the Subsidiary Ledger
C5 - 29
Cash Payments JournalOther Accounts
Ck. Post Accounts Payable CashDate No. Account Debited Ref. Debit Debit Credit
Page 7
3/2 150 Rent Expense 1,6001,600 1,6003/15 151 Grayco Supplies 1,230 1,2303/21 152 Jewett Bus. Syst. 2,800 2,8003/22 153 Donnelly Supp. 420 4203/30 154 Utilities Expense 1,0501,050 1,0503/31 155 Howard Supplies 600 600
Totals 2,650 5,0505,050 7,7007,700
( )
Date Item P.R. Debit Credit BalanceAccount: Accounts Payable No. 21
General Ledger
3/1 Bal. 1,2303/31 P11 6,230 7,460
Posting to the General LedgerPosting to the General Ledger
The highlighted items are posted to the general ledger.
C5 - 30
Cash Payments JournalOther Accounts
Ck. Post Accounts Payable CashDate No. Account Debited Ref. Debit Debit Credit
Page 7
3/2 150 Rent Expense 52 1,6001,600 1,6003/15 151 Grayco Supplies 1,230 1,2303/21 152 Jewett Bus. Syst. 2,800 2,8003/22 153 Donnelly Supp. 420 4203/30 154 Utilities Expense 54 1,0501,050 1,0503/31 155 Howard Supplies 600 600
Totals 2,650 5,0505,050 7,7007,700
( ) (21) (11)
Date Item P.R. Debit Credit BalanceAccount: Accounts Payable No. 21
General Ledger
3/1 Bal. 1,2303/31 P11 6,230 7,4603/31 CP7 5,0505,050 2,410
The highlighted items are posted to the general ledger.
Posting to the General LedgerPosting to the General Ledger
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