10A4

30 Paid half the amount owed Squash Co., no discount, check no. 28. 4. Abby Gray opened Abby's Toy House. As her newly hired accountant, your tasks are to do the following 1. Journalize the transactions for the month of December. Use the periodic method 2. Record to subsidiary ledgers and post to the general ledger as appropriate. 3. Prepare a schedule of accounts receivable and a schedule of accounts payable (130 min) LO1,2,3 LO2 LO3 The following is the partial chart of accounts for Abby's Toy House: Check Figures: Total of accounts receivable account $9,400 Total of accounts payable account $8,100 The following is the partial chart of accounts for Abby's Toy House Check Figures: Total of accounts receivable account $9,400 Total of accounts payable account $8,100 (40 min) L04 Check Figure: Journal entry for Apr. 21 transaction Dr. Merchandise inventory 120 Cr. Cash 120 Dalian Accent & Close R ETINAL * VitalSource Bookshelf X "books/9780133791334/cfi/6/3241/4/2/22/4/4/10/2/2@0:0 U AL MEC Abby's Toy House Chart of Accounts Assets Revenue 110 Cash 410 Toy Sales 112 Accounts Receivable 412. Sales Returns and Allowances 114 Prepaid Rent 414 Sales Discounts 121 Delivery Truck Cost of Goods 510 Toy Purchases Liabilities 512 Purchases Returns and Allowances 210 Accounts Payable 514 Purchases Discount Owner's Equity Expenses 310 A Gray, Capital 610 Salaries Expense 612 Cleaning Expense 201X Abby invested $7,000 in the toy store. Dec. Paid 3 months' rent in advance, check no. 1, $3,100. Purchased merchandise from Morris Curtis Company on account, $4,400, invoice no. 410, dated December 2; terms 5/10, n/30 Sold merchandise to David Plouffe on account, $500, invoice no. 1; terms 5/10, 1/30 Sold merchandise to Robert Cooper on account, $400, Invoice no. 2 terms 5/10, 1/30 Purchased merchandise from Morris Curtis Co. on account, $1,300, invoice no. 415, dated December 9, terms 5/10, n/30. Sold merchandise to David Plouffe on account, $1,100, invoice no. 3, terms 5/10,n/30. Paid cleaning service, check no. 2, $275. Robert Cooper returned merchandise that cost $100 to Abby's Toy House. Abby issued credit memorandum no. 1 to Robert Cooper for $100 HD 10 4/10/2/2/200: 100 Robert Cooper returned merchandise that cost $100 to Abby's Toy House. Abby issued credit memorandum no. 1 to Robert Cooper for $100. 10 Purchased merchandise from Mildred Mann on account, $4,400, Invoice no. 311, dated December 11: terms 1/15, n/60 Paid Morris Curtis Co., invoice no. 410, dated December 2, check no. 3. Sold $1,800 of toy merchandise for cash. 13 Paid salaries, $1,100, check no. 4. 14 Returned merchandise to Mildred Mann in the amount of $800. Abbyy's Toy House issued debit memorandum no. 1 to Mildred Mann 15 Sold merchandise for $3,900 cash. Received payment from Robert Cooper, invoice no. 2 (less returned merchandise), less discount 16 David Plouffe paid invoice no. 1 16 Sold toy merchandise to Alison Reach on account, $4,700, invoice no. 4; terms 5/10,n/30. 20 Purchased delivery truck on account from Sam Katz Garage, $2,500, invoice no. 111, dated December 21 (no discount) in SA cal/4/2/22/4/4/10/2/2/200:100 20 Purchased delivery truck on account from Sam Katz Garage, $2,500, invoice no. 111, dated December 21 (no discount) 22 Sold to David Plouffe merchandise on account, $1,200, invoice no. 5, terms 5/10, 1/30 23 Paid Mildred Mann balance owed, check no. 5. 24 Sold toy merchandise on account to Alison Reach, $600, invoice no. 6, terms 5/10, 1/30. 25 Purchased toy merchandise, $1,100, check no. 6. 26 Purchased toy merchandise from Sanya Burger on account, $4,300, Invoice no. 211, dated December 27 terms 5/10, 1/30 28 David Plouffe paid invoice no. 5, dated December 22. 28 Alison Reach paid invoice no. 6, dated December 24. 28 Abby invested an additional $4,000 in the business 28 Purchased merchandise from Morris Curtis Co., $1,800, invoice no. 436, dated December 29, terms 5/10, n/30 Paid Morris Curtis Co. invoice no. 436, check no. 7. discount) 22 Sold to David Plouffe merchandise on account, $1,200, invoice no. 5, terms 5/10, 1/30. 23 Paid Mildred Mann balance owed, check no. 5. 24 Sold toy merchandise on account to Alison Reach, $600, invoice no. 6, terms 5/10, 1/30 25 Purchased toy merchandise, $1,100, check no. 6. 26 Purchased toy merchandise from Sanya Burger on account, $4,300, invoice no. 211, dated December 27 terms 5/10, n/30 28 David Plouffe paid invoice no. 5, dated December 22 28 Alison Reach paid invoice no. 6, dated December 24. 28 Abby invested an additional $4,000 in the business. Purchased merchandise from Morris Curtis Co., $1,800, invoice no. 436, dated December 29, terms 5/10. n/30 30 Paid Morris Curtis Co. invoice no. 436, check no. 7 30 Sold merchandise to Bella Falco Company on account, $3,600, invoice no. 7, terms 5/10, n/30