Appendix I
Review Exercise Solutions
420
Chapter 9 Review Exercise—Solutions
a) Record transactions in the Cash Receipts, Sales, Purchases, and Cash Payments journal.
Cash Receipts Journal
Page 1
Date
Account
PR
Cash
(DR)
Sales
(CR)
Accounts
Receivable
(CR)
Interest
Revenue
(CR)
Loans
Payable
(CR)
Other (CR)
COGS/In-
ventory
(DR/CR)
Jun 4 Cash Sale
4,000
4,000
4,000
Jun 6 B. Didley
480
480
Jun 9 Cash Sale
2,160
2,160
2,160
Jun 10 K. Domino
25
25
Jun 15 Jo Jo Inc.
2,400
2,400
TOTAL
9,065
6,160
480
25
2,400
6,160
Sales Journal
Page 1
Date
Account
Invoice #
PR
Accounts Receivable/Sales
(DR/CR)
COGS/Inventory
(DR/CR)
Jun 18 Richard Starkey
10022
3,000
2,000
Jun 28 Pete Best
10023
5,000
3,700
TOTAL
8,000
5,700
Purchases Journal
Page 1
Date
Account
Invoice #
PR
Repairs
Expense
(DR)
Office
Supplies
(DR)
Purchases
(DR)
Accounts
Payable
(CR)
Jun 5 Stapl-EZ
4053
100
100
Jun 9 Building Services Inc.
124
350
350
Jun 26 Brick & Mortar
404241
3,500
3,500
TOTAL
350
100
3,500
3,950
Cash Payments Journal
Page 1
Date
Account
Chq #
PR
Other
(DR)
Purchases
(DR)
Accounts
Payable
(DR)
Cash
(CR)
Jun 12 Stapl-EZ Inc.
465
100
100
Jun 21 Noel’s Inc.
466
4,000
4,000
Jun 22 Building Services Inc.
467
350
350
Jun 25 SKG Inc.
468
175
175
TOTAL
175
4,000
450
4,625
