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Using special sales and purchase journals, generalize all transactions.

Post in accounts receivable ledger, accounts payable ledger and general ledger.

Post from special journals to ledgers.

Prepare schedule of accounts receivable and accounts payable

Journalize and post adjusting entries

Prepare income statement, statement of owners equity, balance sheet

Journalize and post closing entries

Prepare a post closing trial balance

urnal nting Cycle for a Merchandising Business; Using Special General Journal a. Post daily all entries involving customer accou a. Post dailyall entries involving customer accounts to the accounts receivah ede.swolvintreneral ledger. b. Post daily all entries involving creditor accounts to the accounts payable I . Post daily the general journal entries to the general ledger. Special Journals a. Post daily the amounts in the Other Accounts columns of the special io b. Post daily the general journal. c. Post the totals of the special columns of the special journals at the end of month. . Prepare a schedule of accounts receivable and a schedule of accounts paya 3. Complete the work sheet for February ble Data for the month-end adjustments are as follows: a-b. Merchandise inventory at February 28, $45,484. Salaries accrued at February 28, $2,084. c. d. Insurance expired during February, $210. e. Depreciation of equipment during February, S1,885 f. Supplies on hand, $100. Journalize and post the adjusting entries 5. Prepare an income statement. 6. Prepare a statement of owner's equity. (No additional investment was mad 4. the month.) 7. Prepare a balance sheet. 8. Journalize and post the closing entries. 9. Prepare a post-closing trial balance. urnal nting Cycle for a Merchandising Business; Using Special General Journal a. Post daily all entries involving customer accou a. Post dailyall entries involving customer accounts to the accounts receivah ede.swolvintreneral ledger. b. Post daily all entries involving creditor accounts to the accounts payable I . Post daily the general journal entries to the general ledger. Special Journals a. Post daily the amounts in the Other Accounts columns of the special io b. Post daily the general journal. c. Post the totals of the special columns of the special journals at the end of month. . Prepare a schedule of accounts receivable and a schedule of accounts paya 3. Complete the work sheet for February ble Data for the month-end adjustments are as follows: a-b. Merchandise inventory at February 28, $45,484. Salaries accrued at February 28, $2,084. c. d. Insurance expired during February, $210. e. Depreciation of equipment during February, S1,885 f. Supplies on hand, $100. Journalize and post the adjusting entries 5. Prepare an income statement. 6. Prepare a statement of owner's equity. (No additional investment was mad 4. the month.) 7. Prepare a balance sheet. 8. Journalize and post the closing entries. 9. Prepare a post-closing trial balance

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