Selected account balances for Hulse Company at January 1, 2017, are shown below.

Accounts Payable	$14,000
Accounts Receivable	22,000
Cash	17,000
Inventory	13,500

Hulse’s sales journal for January shows a total of$110,000 in the selling price column, and its one-column purchases journal for January shows a total of $77,000. The column totals in Hulse’s cash receipts journal are Cash Dr.$61,000, Sales Discounts Dr. $1,100, Accounts Receivable Cr.$45,000, Sales Revenue Cr. $6,000, and Other Accounts Cr.$11,100.

The column totals in Hulse’s cash payments journal for January are Cash Cr. $55,000, Inventory Cr.$1,000, Accounts Payable Dr. $46,000, and Other Accounts Dr.$10,000.

Hulse’s total cost of goods sold for January is $63,600. Accounts Payable, Accounts Receivable, Cash, Inventory, and Sales Revenue are not involved in the Other Accounts column in either the cash receipts or cash payments journal, and are not involved in any general journal entries.

Instructions
Compute the January 31 Sales Revenue balance for Hulse.

Selected account balances for Hulse Company at January 1, 2017, are shown below.

Hulse’s sales journal for January shows a total of$110,000 in the selling price column, and its one-column purchases journal for January shows a total of $77,000. The column totals in Hulse’s cash receipts journal are Cash Dr.$61,000, Sales Discounts Dr. $1,100, Accounts Receivable Cr.$45,000, Sales Revenue Cr. $6,000, and Other Accounts Cr.$11,100.

The column totals in Hulse’s cash payments journal for January are Cash Cr. $55,000, Inventory Cr.$1,000, Accounts Payable Dr. $46,000, and Other Accounts Dr.$10,000.

Hulse’s total cost of goods sold for January is $63,600. Accounts Payable, Accounts Receivable, Cash, Inventory, and Sales Revenue are not involved in the Other Accounts column in either the cash receipts or cash payments journal, and are not involved in any general journal entries.

Instructions
Compute the January 31 Cash balance for Hulse.

Selected account balances for Hulse Company at January 1, 2017, are shown below.

Hulse’s sales journal for January shows a total of$110,000 in the selling price column, and its one-column purchases journal for January shows a total of $77,000. The column totals in Hulse’s cash receipts journal are Cash Dr.$61,000, Sales Discounts Dr. $1,100, Accounts Receivable Cr.$45,000, Sales Revenue Cr. $6,000, and Other Accounts Cr.$11,100.

The column totals in Hulse’s cash payments journal for January are Cash Cr. $55,000, Inventory Cr.$1,000, Accounts Payable Dr. $46,000, and Other Accounts Dr.$10,000.

Hulse’s total cost of goods sold for January is $63,600. Accounts Payable, Accounts Receivable, Cash, Inventory, and Sales Revenue are not involved in the Other Accounts column in either the cash receipts or cash payments journal, and are not involved in any general journal entries.

Instructions
Compute the January 31 Accounts Receivable balance for Hulse.

In what journal would the following transaction be recorded? (Assume that a two-column sales journal and a single-column purchases journal are used.)

• Investment of cash by the owner of the business.

In what journal the transaction below would be recorded? (Assume that a two-column sales journal and a single-column purchases journal are used.)

Cash received from signing a note payable.

Selected account balances for Hulse Company at January 1, 2017, are presented below.

$$\begin{array}{lr} \text{Accounts Payable} & \$14,000\\ \text{Accounts Receivable} & 22,000\\ \text{Cash} & 17,000\\ \text{Inventory} & 13,500\\ \end{array}$$

Hulse’s sales journal for January shows a total of $110,000 in the selling price column, and its one-column purchases journal for January shows a total of$77,000.

The column totals in Hulse’s cash receipts journal are Cash Dr. $61,000, Sales Discounts Dr.$1,100, Accounts Receivable Cr. $45,000, Sales Revenue Cr.$6,000, and Other Accounts Cr. $11,100.

The column totals in Hulse’s cash payments journal for January are Cash Cr.$55,000, Inventory Cr. $1,000, Accounts Payable Dr.$46,000, and Other Accounts Dr. $10,000. Hulse’s total cost of goods sold for January is$63,600.

Accounts Payable, Accounts Receivable, Cash, Inventory, and Sales Revenue are not involved in the Other Accounts column in either the cash receipts or cash payments journal, and are not involved in any general journal entries.

Instruction

Compute the January 31 balance for Hulse's Accounts Payable.

In what journal would the following transaction be recorded? (Assume that a two-column sales journal and a single-column purchases journal are used.)

• Purchase of office supplies on account.

In what journal would the following transaction be recorded? (Assume that a two-column sales journal and a single-column purchases journal are used.)

• Collection of cash on account from a customer.

In what journal would the following transaction be recorded? (Assume that a two-column sales journal and a single-column purchases journal are used.)

• Sales of merchandise on account.

In what journal would the following transaction be recorded? (Assume that a two-column sales journal and a single-column purchases journal are used.)

• Sales of merchandise for cash.

In what journal would the following transaction be recorded? (Assume that a two-column sales journal and a single-column purchases journal are used.)

• Credit given to a customer for merchandise purchased on credit and returned.

In what journal the transaction below would be recorded? (Assume that a two-column sales journal and a single-column purchases journal are used.)

Recording of depreciation expense for the year.

Tresh Products uses both special journals and a general journal. Tresh also posts customers’ accounts in the accounts receivable subsidiary ledger. The postings for the most recent month are included in the subsidiary T-accounts below.

$$\begin{array}{c} \textbf{Estes}\\ \end{array}$$

$$\begin{array}{lr|lr} \hline \text{Bal.}& 340 && 250\\ & 200\\ \end{array}$$

$$\begin{array}{c} \textbf{Gehrke}\\ \end{array}$$

$$\begin{array}{lr|lr} \hline \text{Bal.}& 150 && 150\\ & 290\\ \end{array}$$

$$\begin{array}{c} \textbf{Truong}\\ \end{array}$$

$$\begin{array}{lr|lr} \hline \text{Bal.}& 0 && 145\\ & 145\\ \end{array}$$

$$\begin{array}{c} \textbf{Weiser}\\ \end{array}$$

$$\begin{array}{lr|lr} \hline \text{Bal.}& 120 && 120\\ & 190\\ & 150\\ \end{array}$$

Instruction

Determine the correct amount of the end-of-month posting from the sales journal to the Accounts Receivable control account.

Selected accounts from the ledgers of Youngblood Company at July 31 showed the following.

$$\begin{array}{c} \textbf{GENERAL LEDGER}\\ \end{array}$$

$$\begin{array}{lllcccr} &&&\hspace{80pt} \textbf{Equipment} &&& \hspace{25pt}\textbf{No. 157}\\ \end{array}$$

$$\begin{array}{l|l|c|c|c|r} \hline \text{Date} & \text{Explanation} & \text{Ref.} & \text{Debit} & \text{Credit} & \text{Balance} \\ \hline \text{July 1} & & \text{G1} & 3,900 & & 3,900 \end{array}$$

$$\begin{array}{lllcccr} &&&\hspace{80pt} \textbf{Accounts Payable} &&& \hspace{15pt}\textbf{No. 201}\\ \end{array}$$

$$\begin{array}{r|l|c|c|r|r} \hline \text{Date} & \text{Explanation} & \text{Ref.} & \text{Debit} & \text{Credit} & \text{Balance} \\ \hline \text{July 1} & & \text{G1} & & 3,900 & 3,900 \\ 15 & & \text{G1} & & 400 & 4,300 \\ 18 & & \text{G1} & 100 & & 4,200 \\ 25 & & \text{G1} & 200 & & 4,000 \\ 31 & & \text{P1} & & 9,300 & 13,300 \end{array}$$

$$\begin{array}{lllcccr} &&&\hspace{80pt} \textbf{Inventory} &&& \hspace{15pt}\textbf{No. 120}\\ \end{array}$$

$$\begin{array}{r|l|c|c|r|r} \hline \text{Date} & \text{Explanation} & \text{Ref.} & \text{Debit} & \text{Credit} & \text{Balance} \\ \hline \text{July 15} & & \text{G1} & 400 & & 400 \\ 18 & & \text{G1} & & 100 & 300 \\ 25 & & \text{G1} & & 200 & 100 \\ 31 & & \text{P1} & 9,300 & & 9,400 \end{array}$$

$$\begin{array}{c} \textbf{ACCOUNTS PAYABLE LEDGER}\\ \end{array}$$

$$\begin{array}{lllcccr} &&\hspace{20pt} \textbf{Flaherty Equipment Co.} \\ \end{array}$$

$$\begin{array}{r|l|c|c|r|r} \hline \text { Date } & \text { Explanation } & \text { Ref. } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline \text { July } 1 & 1 & \text { G1 } & & 3,900 & 3,900 \\ \end{array}$$

$$\begin{array}{lllcccr} &\hspace{10pt} \textbf{Marsh Co. } \\ \end{array}$$

$$\begin{array}{r|l|c|c|c|r} \hline \text { Date } & \text { Explanation } & \text { Ref. } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline \text { July 3 } & & \text { P1 } & & 2,400 & 2,400 \\ 20 & & \text { P1 } & & 1,700 & 4,100 \end{array}$$

$$\begin{aligned} &\textbf {\hspace{100pt} Lange Corp }\\ &\begin{array}{r|c|c|c|c|r} \hline \text { Date } & \text { Explanation } & \text { Ref. } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline \text { July 17 } & & \text { P1 } & & 1,400 & 1,400 \\ \text{ 18 }& & \text { G1 } & 100 & & 1,300 \\ \text{ 29 } & & \text { P1 } & & 1,600 & 2,900 \end{array} \end{aligned}$$

$$\begin{aligned} &\textbf {\hspace{100pt} Weller Co. }\\ &\begin{array}{r|c|c|c|c|r} \hline \text { Date } & \text { Explanation } & \text { Ref. } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline \text { July 14 } & & \text { P1 } & & 1,100 & 1,100 \\ \text{ 25 } & & \text { G1 } & 200 & & 900 \end{array} \end{aligned}$$

$$\begin{aligned} &\textbf {\hspace{100pt} Yates Co. }\\ &\begin{array}{r|c|c|c|c|r} \hline \text { Date } & \text { Explanation } & \text { Ref. } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline \text { July 12 } & & \text { P1 } & & 500 & 500 \\ \text{ 21 } & & \text { P1 } & & 600 & 1,100 \end{array} \end{aligned}$$

$$\begin{aligned} &\textbf {\hspace{100pt} Bernardo Inc. }\\ &\begin{array}{l|c|c|c|c|r} \hline \text { Date } & \text { Explanation } & \text { Ref. } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline \text { July 15 } & & \text { G1 } & & 400 & 400 \end{array} \end{aligned}$$

Instruction

From the data, prepare the general journal entries for July.