1. Sales and Cash Receipts Journal Review

2. December 2. Bought store supplies on account from Estes Supply, $165.25. Memorandum No. 42. Lesson 11-1 Supplies—Store 165.25 Accounts Payable 165.25

3. Lesson 11-1 December 8. Returned merchandise to Mobley Tools, $43.90, covering Purchase Invoice No. 528. Debit Memorandum No. 38. Accounts Payable 43.90 Purchases Returns and Allowances 43.90

4. Lesson 11-1 1 1 Post to Accounts Payable journal

5. Lesson 11-1 * * Need to post to Supplies—Store and Accounts Payable accounts * *

6. Lesson 11-2 December 16. Granted credit to Lake Automotive for merchandise returned, $65.85, plus sales tax, $3.95, from S500; total, $69.80. Credit Memorandum No. 14. Sales Returns and Allowances 65.85 Sales Tax Payable 3.95 Accounts Receivable 69.80

7. Lesson 11-2 1 1 Date 5 5 Customer Number Journal Page Number 2 2 4 4 Account Balance 3 3 Credit

8. Lesson 11-2 December 26. Found that a sale on account to Skinner College was incorrectly charged to the account of Wells Apartments, $334.00. Memorandum No. 44. Accounts are correct after posting the correcting entry. 

9. (3000)STOCKHOLDERS’ EQUITY 3110Capital Stock 3120Paid-In Capital in Excess of Par 3130Retained Earnings 3140Dividends 3150Income Summary Lesson 11-3

10. December 15. ThreeGreen’s board of directors declared a quarterly dividend of $0.05 per share; capital stock issued is 75,000 shares; total dividend, $3,750.00. Date of payment is January 15. Memorandum No. 43. Dividends 3,750.00 Dividends Payable 3,750.00

11. January 15. Paid cash for quarterly dividend declared column. Lesson 11-3 Dividends Payable 04/15 Paid3,750.00 07/15 Paid3,750.00 10/15 Paid3,750.00 01/15 Paid3,750.00 03/15 Paid3,750.00 06/15 Paid3,750.00 09/15 Paid3,750.00 12/15 Paid3,750.00 Cash 01/15 Paid3,750.00

12. Thank you for trying… more.