Baldy's Barber Shop Transactions
Transaction                       Accounts 
Number GJ21   Cash In Bank
Date 12/9/xxxx   Cash Over/Short
    Petty Cash
Received invoice in the amount of $2500 and paid for contents and liability insurance for    Deposits
a year to Safeguard Insurance   Prepaid Advertising
Term: December 1,xxxx thru November 30, xxxx   Prepaid Insurance
Invoice # 5698 Check # 18   Barber Equipment
                          Furniture & Fixtures
                          Office Equipment
  Journal Entry                   Accum Deprec-Barber Equipment
                        Accum Deprec-Furniture & Fixtures
  Input Data                   Accum Deprec-Office Equipment
  Amount 2500.00     Date 12/9/xxxx   Accounts Payable
  Debit Account Prepaid Insurance   Reference GJ21   Notes Payable-Short Term
  Credit Account Cash In Bank           Notes Payable-Long Term
  Description Purchased insurance for a year from Safeguard Insurance   Owners Equity
  Description 2 Check # 18 Invoice # 5698   Sales
                        Barber Supplies
                      Janitorial & Cleaning Services
                        Towel & Linen Cleaning
  General Journal                 Uniform Rental
  Date   Details     Ref   Debit   Credit   Building Rent
  12/9/xxxx   Prepaid Insurance GJ21   2,500.00       Building Maintenance
                        Utilities
      Cash In Bank GJ21       2,500.00   Advertising
                        Promotions & Special Events
                        Magazines & Newspapers
  Purchased insurance for a year from Safeguard Insurance                   Coffee Supplies
  Check # 18 Invoice # 5698                 Office Supplies
Postage
Telephone
Insurance
    Answer Check                     Entertainment
                            Professional Fees
Debit Account Correct   Fees,Licenses,Permits
Credit Account Correct   Wi-Fi Internet
Amount Correct   Donations
Description Correct   Depreciation
                          Owners Draws
    Interest
                   
Transaction                      
Number GJ22  
Date 12/10/xxxx  
   
Received and paid $200 for utility bill from Better Utilities  
Period Covered: December 1, xxxx thru December 31, xxxx  
Invoice # 421 Check # 19  
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 200.00     Date 12/10/xxxx  
  Debit Account Utilities   Reference GJ22  
  Credit Account Cash In Bank          
  Description Paid December utility bill to Better Utilities  
  Description 2 Check # 19 Invoice # 421  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/10/xxxx   Utilities GJ22   200.00      
                       
      Cash In Bank GJ22       200.00  
                       
                       
  Paid December utility bill to Better Utilities                  
  Check # 19 Invoice # 421                
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ23  
Date 12/10/xxxx  
   
Received and paid Invoice for $30 from Mobile Communications  
Period Covered: December 1, xxxx thru December 31, xxxx  
Invoice # 32189 Check # 20  
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 30.00     Date 12/10/xxxx  
  Debit Account Telephone   Reference GJ23  
  Credit Account Cash In Bank          
  Description Paid phone bill for December to Mobile Communications  
  Description 2 Check # 20 Invoice #32189  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/10/xxxx   Telephone GJ23   30.00      
                       
      Cash In Bank GJ23       30.00  
                       
                       
  Paid phone bill for December to Mobile Communications                  
  Check # 20 Invoice #32189                
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ24  
Date 12/11/xxxx  
   
Bought $50 worth of stamps at the post office  
Receipt # 9000-7 Check # 21  
   
Note: Due to the small dollar amount expense this transaction  
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 50.00     Date 12/11/xxxx  
  Debit Account Postage   Reference GJ24  
  Credit Account Cash In Bank          
  Description Bought stamps at post office  
  Description 2 Check # 21 Receipt #9000-7  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/11/xxxx   Postage GJ24   50.00      
                       
      Cash In Bank GJ24       50.00  
                       
                       
  Bought stamps at post office                  
  Check # 21 Receipt #9000-7              
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ25  
Date 12/12/xxxx  
   
Received and paid $40 for business cards from Business Card Specialty Company  
Invoice # BCS-500987 Check # 22  
   
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 40.00     Date 12/12/xxxx  
  Debit Account Office Supplies   Reference GJ25  
  Credit Account Cash In Bank          
  Description Bought business cards from Business Card Specialty Company  
  Description 2 Check # 22 Invoice # BCS-500987  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/12/xxxx   Office Supplies GJ25   40.00      
                       
      Cash In Bank GJ25       40.00  
                       
                       
  Bought business cards from Business Card Specialty Company                  
  Check # 22 Invoice # BCS-500987              
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ26  
Date 12/12/xxxx  
   
Bought and paid for office supplies totalling $150 from Ace Office Supply  
Invoice # 9643 Check # 23  
   
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 150.00     Date 12/12/xxxx  
  Debit Account Office Supplies   Reference GJ26  
  Credit Account Cash In Bank          
  Description Bought office supplies from Ace Office Supply  
  Description 2 Check # 23 Invoice # 9643  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/12/xxxx   Office Supplies GJ26   150.00      
                       
      Cash In Bank GJ26       150.00  
                       
                       
  Bought office supplies from Ace Office Supply                  
  Check # 23 Invoice # 9643                
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ27  
Date 12/14/xxxx  
   
Purchased on credit a washer and dryer for $700 from  Dan's Washer/Dryer Outlet  
Terms: Net 30  
Invoice # 00321  
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 700.00     Date 12/14/xxxx  
  Debit Account Barber Equipment   Reference GJ27  
  Credit Account Accounts Payable          
  Description Purchased washer and dryer from Dan's Washer/Dryer Outlet on account  
  Description 2 Invoice # 00321  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/14/xxxx   Barber Equipment GJ27   700.00      
                       
      Accounts Payable GJ27       700.00  
                       
                       
  Purchased washer and dryer from Dan's Washer/Dryer Outlet on account                  
  Invoice # 00321                
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ28  
Date 12/14/xxxx  
   
Bought and paid $325 for towels, wash clothes, and customer "bibs" from  
Cheap Barber Supplies  
Invoice # 2315 Check # 24  
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 325.00     Date 12/14/xxxx  
  Debit Account Barber Supplies   Reference GJ28  
  Credit Account Cash In Bank          
  Description Bought towels, wash clothes, and bibs from Cheap Barber Supplies  
  Description 2 Check # 24 Invoice # 2315  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/14/xxxx   Barber Supplies GJ28   325.00      
                       
      Cash In Bank GJ28       325.00  
                       
                       
  Bought towels, wash clothes, and bibs from Cheap Barber Supplies                  
  Check # 24 Invoice # 2315                
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ29  
Date 12/14/xxxx  
   
Issued Check # 25 in the amount of $100 for Cash to set up Petty Cash Fund  
   
   
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 100.00     Date 12/14/xxxx  
  Debit Account Petty Cash   Reference GJ29  
  Credit Account Cash In Bank          
  Description Set Up Petty Cash Fund  
  Description 2 Check # 25  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/14/xxxx   Petty Cash GJ29   100.00      
                       
      Cash In Bank GJ29       100.00  
                       
                       
  Set Up Petty Cash Fund                  
  Check # 25                    
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ30  
Date 12/14/xxxx    
   
Issued Check # 26 in the amount of $25 for uniform rental from Redi-Uniforms  
Weekly Service paid one week in advance begiining 12/15/xxxx  
Invoice # A-675  
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 25.00     Date 12/14/xxxx  
  Debit Account Uniform Rental   Reference GJ30  
  Credit Account Cash In Bank          
  Description Purchased weekly uniform service from Redi-Uniforms  
  Description 2 Check # 26 Invoice # A-675  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/14/xxxx   Uniform Rental GJ30   25.00      
                       
      Cash In Bank GJ30       25.00  
                       
                       
  Purchased weekly uniform service from Redi-Uniforms                  
  Check # 26 Invoice # A-675                
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ31  
Date 12/15/xxxx  
   
Grand Opening Day has arrived - haircuts normally are $15 but are 1/2 price $7.50 today  
At the end of the day the sales summary is:  
32 cuts @ $7.50 = $240  
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 240.00     Date 12/15/xxxx  
  Debit Account Cash In Bank   Reference GJ31  
  Credit Account Sales          
  Description Recorded daily sales  
  Description 2    
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/15/xxxx   Cash In Bank GJ31   240.00      
                       
      Sales GJ31       240.00  
                       
                       
  Recorded daily sales                  
                       
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ32  
Date 12/15/xxxx  
   
Grand Opening Day arrived - haircuts normally are $15 but were 1/2 price $7.50   
for grand opening  
Recorded Sales were $240 but Actual Cash Counted is $235 so we have a cash shortage  
Note: See JE31   
                   
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 5.00     Date 12/15/xxxx  
  Debit Account Cash Over/Short   Reference GJ32  
  Credit Account Cash In Bank          
  Description Daily Sales Cash Shortage  
  Description 2    
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/15/xxxx   Cash Over/Short GJ32   5.00      
                       
      Cash In Bank GJ32       5.00  
                       
                       
  Daily Sales Cash Shortage                  
                       
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ33  
Date 12/15/xxxx  
   
Issued Check # 27 for $10 to Friendly Newspaper for weekly subscription  
Invoice # 1943  
   
   
                   
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 10.00     Date 12/15/xxxx  
  Debit Account Magazines & Newspapers   Reference GJ33  
  Credit Account Cash In Bank          
  Description Paid weekly newspaper subscription to Friendly Newspaper  
  Description 2 Check # 27 Invoice #1943  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/15/xxxx   Magazines & Newspapers GJ33   10.00      
                       
      Cash In Bank GJ33       10.00  
                       
                       
  Paid weekly newspaper subscription to Friendly Newspaper                  
  Check # 27 Invoice #1943                
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ34  
Date 12/16/xxxx  
   
Recorded Sales were $375  and  Actual Cash Counted is $375  
25 cuts @ $15 = $375  
   
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 375.00     Date 12/16/xxxx  
  Debit Account Cash In Bank   Reference GJ34  
  Credit Account Sales          
  Description Record daily sales  
  Description 2    
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/16/xxxx   Cash In Bank GJ34   375.00      
                       
      Sales GJ34       375.00  
                       
                       
  Record daily sales                  
                       
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ35  
Date 12/17/xxxx  
   
Recorded Sales were $300  and  Actual Cash Counted is $300  
20 cuts @ $15 = $300  
   
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 300.00     Date 12/17/xxxx  
  Debit Account Cash In Bank   Reference GJ35  
  Credit Account Sales          
  Description Record daily sales  
  Description 2    
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/17/xxxx   Cash In Bank GJ35   300.00      
                       
      Sales GJ35       300.00  
                       
                       
  Record daily sales                  
                       
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ36  
Date 12/18/xxxx  
   
Recorded Sales were $225  and  Actual Cash Counted is $230 resuting in a $5 overage  
15 cuts @ $15 = $225  
   
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 225.00     Date 12/18/xxxx  
  Debit Account Cash In Bank   Reference GJ36  
  Credit Account Sales          
  Description Record daily sales  
  Description 2    
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/18/xxxx   Cash In Bank GJ36   225.00      
                       
      Sales GJ36       225.00  
                       
                       
  Record daily sales                  
                       
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ37  
Date 12/18/xxxx  
   
Cash Overage of $5 for 12/18 sales  
Recorded Sales were $225  and  Actual Cash Counted is $230 resuting in a $5 overage  
   
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 5.00     Date 12/18/xxxx  
  Debit Account Cash In Bank   Reference GJ37  
  Credit Account Cash Over/Short          
  Description Cash overage  
  Description 2    
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/18/xxxx   Cash In Bank GJ37   5.00      
                       
      Cash Over/Short GJ37       5.00  
                       
                       
  Cash overage                  
                       
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ38  
Date 12/19/xxxx  
   
Recorded Sales were $150  and  Actual Cash Counted is $150  
10 cuts @ $15 = $150  
   
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 150.00     Date 12/19/xxxx  
  Debit Account Cash In Bank   Reference GJ38  
  Credit Account Sales          
  Description Record daily sales  
  Description 2    
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/19/xxxx   Cash In Bank GJ38   150.00      
                       
      Sales GJ38       150.00  
                       
                       
  Record daily sales                  
                       
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ39  
Date 12/21/xxxx  
   
Issued Check # 28 for $10 to Friendly Newspaper for weekly subscription  
Invoice # 576  
   
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 10.00     Date 12/21/xxxx  
  Debit Account Magazines & Newspapers   Reference GJ39  
  Credit Account Cash In Bank          
  Description Paid weekly subscription to Friendly News  
  Description 2 Check # 28 Invoice # 576  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/21/xxxx   Magazines & Newspapers GJ39   10.00      
                       
      Cash In Bank GJ39       10.00  
                       
                       
  Paid weekly subscription to Friendly News                  
  Check # 28 Invoice # 576                
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct  
                         
   
                   
Transaction                      
Number GJ40  
Date 12/22/xxxx  
   
Issued Check # 29 in the amount of $25 for uniform rental from Redi-Uniforms  
Weekly Service paid one week in advance for week beginning 12/22/xxxx  
Invoice # A-790  
   
                         
                         
  Journal Entry                  
                       
  Input Data                  
  Amount 25.00     Date 12/22/xxxx  
  Debit Account Uniform Rental   Reference GJ40  
  Credit Account Cash In Bank          
  Description Paid weekly uniform rental to Redi-Uniforms  
  Description 2 Check # 29 Invoice # A-790  
                       
                     
                       
  General Journal                
  Date   Details     Ref   Debit   Credit  
  12/22/xxxx   Uniform Rental GJ40   25.00      
                       
      Cash In Bank GJ40       25.00  
                       
                       
  Paid weekly uniform rental to Redi-Uniforms                  
  Check # 29 Invoice # A-790                
    Answer Check                    
                           
Debit Account Correct  
Credit Account Correct  
Amount Correct  
Description Correct