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PGT Store General Ledger 31-May-20: Freight-In 504 Balance Account Title Debit Credit Debit Credit

The general ledger of PGT Store shows transactions from May 1-31, including opening balances, purchases, sales, returns and allowances. Major transactions include $50,000 in initial capital, $47,040 paid to accounts payable on May 10, $25,000 spent on purchases on May 13, $9,600 in sales revenue on May 24, and closing balances on May 31 of $17,280 in capital and $0 in several accounts.

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Jemimah Corporal
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169 views

PGT Store General Ledger 31-May-20: Freight-In 504 Balance Account Title Debit Credit Debit Credit

The general ledger of PGT Store shows transactions from May 1-31, including opening balances, purchases, sales, returns and allowances. Major transactions include $50,000 in initial capital, $47,040 paid to accounts payable on May 10, $25,000 spent on purchases on May 13, $9,600 in sales revenue on May 24, and closing balances on May 31 of $17,280 in capital and $0 in several accounts.

Uploaded by

Jemimah Corporal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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PGT Store

General Ledger
31-May-20
CASH 101
BALANCE
Date Account Title P/R Debit Credit Debit Credit
1 PGT, Capital J1 50 000 50 000
8 Account Receivable J1 7 840 57 480
10 Account Payable J1 47 040 10 800
11 Supplies J1 3 000 7 800
13 Purchases J1 25 000 17 200
15 Purchase Return and Allowances J1 2 000 15 200
19 Freight-In J1 500 15 700
24 Sales J1 9 600 6 100
27 Account Payable J1 18 620 24 720
28 Sales Return and Allowances J1 1 000 25 720

ACCOUNT RECEIVABLE 102


BALANCE
Date Account Title P/R Debit Credit Debit Credit
4 Sales J1 8 000 8 000
10 Sales J1 30 000 38 000
14 Cash J1 8 000 30 000

SUPPLIES 103
BALANCE
Date Account Title P/R Debit Credit Debit Credit
11 Cash J1 3 000 3 000

ACCOUNT PAYABLE 201


BALANCE
Date Account Title P/R Debit Credit Debit Credit
1 Purchases J1 50 000 50 000
5 Purchase Return and Allowances J1 2 000 48 000
10 Cash J1 48 000 _
17 Purchases J1 19 000 19 000
25 Purchases J1 10 000 29 000
27 Cash J1 19 000 10 000

PGT, Capital 301


BALANCE
Date Account Title P/R Debit Credit Debit Credit
1 Cash J1 50 000 50 000
31 Closing J2 32 720 17 280

Purchases 501
BALANCE
Date Account Title P/R Debit Credit Debit Credit
1 Account Payable J1 50 000 50 000
13 Cash J1 25 000 75 000
17 Account Payable J1 19 000 94 000
25 Account Payable J1 10 000 104 000
31 Closing J2 104 000 0

Purchase Return and Allowances 502


BALANCE
Date Account Title P/R Debit Credit Debit Credit
5 Account Payable J1 2 000 2 000
15 Cash J1 2 000 4 000
31 Closing J2 4 000 0

Freight-in 504
BALANCE
Date Account Title P/R Debit Credit Debit Credit
19 Cash J1 500 500
31 Closing J2 500 0

Sales 601
BALANCE
Date Account Title P/R Debit Credit Debit Credit
3 Account Receivable J1 8 000 8 000
24 Cash J1 9 600 17 600
31 Account Receivable J1 30 000 47 600
31 Closing J2 47 600 0

Sales return and allowances 602


BALANCE
Date Account Title P/R Debit Credit Debit Credit
28 Cash J1 1 000 1 000
31 Closing J2 1 000 0

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