Problem

Journalizing sales and cash receipts and posting to the general ledger.Awesome Sounds is a...

Journalizing sales and cash receipts and posting to the general ledger.

Awesome Sounds is a wholesale business that sells musical instruments. Transactions involving sales and cash receipts for the firm during April 2016 follow, along with the general ledger accounts used to record these transactions.

INSTRUCTIONS

1. Open the general ledger accounts and enter the balances as of April 1, 2016.
2. Record the transactions in a sales journal, a cash receipts journal, and a general journal. Use 7 as the page number for each of the special journals and 17 as the page number for the general journal.
3. Post the entries from the general journal to the general ledger.
4. Total, prove, and rule the special journals as of April 30, 2016.
5. Post the column totals from the special journals to the proper general ledger accounts.
6. Prepare the heading and the Revenue section of the firm’s income statement for the month ended April 30.

GENERAL LEDGER ACCOUNTS