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BYP 7-1 FINANCIAL REPORTING PROBLEM — A MINI PRACTICE SET

(a) Sales Journal S1

Date

Account
Debited

Invoice
No.

Ref.
Accounts Receivable Dr.
Sales Cr.
Cost of Sales Dr.
Inventory Cr.

Purchases Journal P1

Date

Account Credited

Terms

Ref.

Inventory Dr.
Accounts Payable Cr.

Cash Receipts Journal CR1

Date

Account
Credited

Ref.

Cash
Dr.
Sales Disc’
Dr.

Accounts
Receivable
Cr.

Sales
Cr.

Other
Accounts
Cr.
Cost of Sales
Dr.
Inventory
Cr.

BYP 7-1 (continued)

Cash Payments Journal CP1

Date

Account Debited

Ref.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Office
Supplies
Dr.
Discount Received
Cr.

Cash
Cr.

(a) & (e) General Journal G1
Date
Account Titles and Explanations
Ref.
Debit
Credit
Jan. 9

18

21

31

31

31

31

31

BYP 7-1 (continued)

General Journal G1
Date
Account Titles and Explanations
Ref.
Debit
Credit
Jan. 31

31

31

(b) & (e) General Ledger

Cash No. 101
Date

Explanation
Ref.

Debit

Credit

Balance
Jan. 1 31 31

Balance


35 750

Accounts Receivable No. 112
Date

Explanation
Ref.

Debit

Credit

Balance
Jan. 1 31 31 9

Balance


13 000

Notes Receivable No. 115
Date

Explanation
Ref.

Debit

Credit

Balance
Jan. 1

Balance


39