The transactions completed byLightening Express Delivery Company during July 2008, the first month of thefiscal year, were as follows:July 1. Issued Check No. 610 for July rent, $6,400.2. Issued Invoice No. 940 to Capps Co., $2,420.3. Received check for $5,400 from Perkins Co. in payment of account.5. Purchased a vehicle on account from Browning Transportation, $31,600.6. Purchased office equipment on account from Bell Computer Co., $4,200.6. Issued Invoice No. 941 to Darr Co., $5,920.9. Issued Check No. 611 for fuel expense, $850.10. Received check from Shingo Co. in payment of $4,050 invoice.10. Issued Check No. 612 for $905 to Office To Go Inc. in payment of invoice.10. Issued Invoice No. 942 to Joy Co., $1,260.11. Issued Check No. 613 for $3,605 to Crowne Supply Co. in payment of account.11. Issued Check No. 614 for $805 to Porter Co. in payment of account.12. Received check from Capps Co. in payment of $2,420 invoice.13. Issued Check No. 615 to Browning Transportation in payment of $31,600balance.16. Issued Check No. 616 for $38,900 for cash purchase of a vehicle.16. Cash fees earned for July 1-16, $17,800.17. Issued Check No. 617 for miscellaneous administrative expense, $260.18. Purchased maintenance supplies on account from Crowne Supply Co., $1,730.19. Purchased the following on account from McClain Co.: maintenance supplies,$1,980; office supplies, $430.20. Issued Check No. 618 in payment of advertising expense, $1,700.20. Used $3,500 maintenance supplies to repair delivery vehicles.23. Purchased office supplies on account from Office To Go Inc., $600.24. Issued Invoice No. 943 to Shingo Co., $5,070.24. Issued Check No. 619 to K. Rivera as a personal withdrawal, $3,000.25. Issued Invoice No. 944 to Darr Co., $6,200.25. Received check for $3,950 from Perkins Co. in payment of balance.26. Issued Check No. 620 to Bell Computer Co. in payment of $4,200 invoice ofJuly 6.30. Issued Check No. 621 for monthly salaries as follows: driver salaries,$16,500; office salaries, $8,200.31. Cash fees earned for July 17-31, $18,940.31. Issued Check No. 622 in payment for office supplies, $800.Instructions1. Enter the following account balances in the general ledger as of July 1:11 cash 15896512 accounts recievable1340014 maintenance recievable930015 office supplies450016 office equipemnt2430017 accumulated depreciation- Office equipement450018 vehicles8460019 Accumulated depreciation- vehicles1230021 accounts payable 531531 k. rivera, capital 27295032 k. rivera drawing 41 fees earned51 driver salaries expense52 maintenece supplys expense53 fuel expense61 office salaries expense62 rent expense63 advertiseing expense64 miscellaneous administrativeexpense2. Journalize the transactions for July 2008, using the following journalssimilar to those illustrated in this chapter: cash receipts journal, purchasesjournal (with columns for Accounts Payable, Maintenance Supplies, OfficeSupplies, and Other Accounts), single-column revenue journal, cash paymentsjournal, and two-column general journal. Assume that the daily postings to theindividual accounts in the accounts payable ledger and the accounts receivableledger have been made.3. Post the appropriate individual entries to the general ledger.4. Total each of the columns of the special journals, and post the appropriatetotals to the general ledger; insert the account balances.5. Prepare a trial balance.6. Verify the agreement of each subsidiary ledger with its control account. Thesum of the balances of the accounts in the subsidiary ledgers as of July 31are:Accounts Receivable ……………… $18,450Accounts Payable …………………. 4,740
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