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Transactions $-$ week $2$

You are now instructed to record transactions that occurred throughout the second week of June into the company's books. The week $2$ transactions are listed below:

Week $2$

Date Transaction description

$9$ Made payment of $$1,274$ to Enroff for $3$ months of electricity up to and including May $31,$ Check No$.863.$

$12$ Sold $36$ sets of Sting Ray Golf Clubs to Croquet and Cricket for $$700$ each, plus $5\%$ sales tax, Invoice No$.209.$

$12$ Paid sales staff wages of $$2,303$ for the week up to and including yesterday, Check No$.864.$

$13$ Paid the full amount owing to Sports $\text{'}$R Us$,$ Check No$.865.$

$13$ Great Sports paid the full amount owing on their account.

$14$ Made cash sale of $37$ MJO Basketball Sets for $$460$ each plus $5\%$ sales tax.

Instructions for week $2$

Record all week $2$ transactions in the relevant journals.

Note that special journals must be used where applicable. Any transaction that cannot be recorded in a special journal should be recorded in the general journal.

Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies and procedures ${?}^{**}.$

Note that the relevant totals of the special journals will be posted to the general ledger accounts at the end of the month. You will enter this before you prepare the Bank Reconciliation Statement.

Update inventory cards on a daily basis.

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Please note that any answers from previous pages carried through onto this page $($either on the page or in a popup information page$)$ have been reset, if necessary, to the correct answers. Your particular answers from previous pages are no longer shown.

Remember:

Each transaction recorded in a special journal must be entered in one line. In order to receive full points, you must not split up the relevant transaction into more than one line in the special journal.

Enter all answers to the nearest whole dollar.

In this practice set, in order to receive full points, every transaction entered in a special journal requires an entry in the Post Ref. column. Note that in the special journals, if the account name selected for a transaction corresponds to the heading of one of the columns in that special journal, the post ref is to be recorded as an $x.$ This is because these transactions are not posted on a daily basis. In order to receive full points, you must record only the letter $x$ in the Post Ref. column for these transactions.

You are also required to apply the journals and ledgers instructions and the inventory cards instructions ${?}^5$ provided in previous weeks.

Before pressing the Submit answers button, we recommend that you click the Show All tab and check that all relevant accounting records have been completed.

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