May Adonai, The God of Abraham, Isaac and Jacob bless Us and Keep Us All.

1. This is our 4th Exercises

2. Together with the Power Point I’m sending you all about Special Journals, Study the Sample Problems
and Solve the Problems After as attached.
3. Again, do this on time but just submit the same as we resume classes.
4. Again keep safe everyone.

THE SPECIAL JOURNALS

1. Revenue Journal / Sales Journal - record sale on account to customer

2. Purchase Journal - record purchase on account from vendor
3. Cash receipts Journal - record payment received from customer
4. Cash payments Journal - record payment made to vendor

5. General journal – All other transactions not included in the four above

SAMPLE PROBLEMS
1. Utilizing the Revenue Journal, below, journalize the following five transactions of Porshe Creations:
(a) On March 20th Porshe sells 25 cell phone covers to Xtreme at P4.50 per cover
on invoice 887.
(b) On March 21st Porshe sells 5 cell phone covers to Sidekick for P7.50 per cover
on invoice 908.
(c) On March 22nd Porshe sells 18 cell phone covers to Rock-On at P4.25 per cover
on invoice 938.
(d) On March 26th Porshe sells 200 cell phone covers to Micro at P3.75 each on
invoice 959.
(e) On March 29th Porshe sells 6 cell phone covers to Charmers for P8.35 each on
invoice 997.

Revenue Journal Pg 15
Invoice Post A/R Dr.
Date: Nbr: Account Debited Ref. Sales Rev Cr.

ANS:

Revenue Journal Pg 15
Invoice Post A/R Dr.
Date: Nbr: Account Debited Ref. Sales Rev Cr.
March 20 887 Xtreme 112.50
March 21 908 Sidekick 37.50
March 22 938 Rock-On 76.50
March 26 959 Micro 750.00
March 29 997 Charmers 50.10

2.The following purchase transactions occurred during August for Backcountry Kayak Company
Aug 1 Purchased kevlar kayaks for P5,060 on account from Gear Inc.
 Aug 6 Purchased kevlar kayaks for P3,033 on account from Southland Company.
Aug 14 Purchased kayak paddles for P2,444 on account from Gear Inc.

Record these transactions in a purchase journal.

Purchases Journal
Date Acct Cr Post Ref Acct Kevlar Other Post Amount
Pay Cr KayaksD Accts Ref
r Dr

ANS:

Purchases Journal
Date Acct Cr Post Acct Kevlar Other Post Amount
Ref Pay Cr KayaksDr Accts Ref
Dr
Aug 1 Gear Inc 5,060 5,060
6 Southland 3,033 3,033
Co
14 Gear Inc 2,444 Paddles 2,444

3. Davidson, Inc. incurred the following transactions during the month of January. Record the appropriate ones in the Cash
receipts journal. If a transaction should not be recorded in the Cash receipts journal, indicate where is should be posted.

(a) On January 3rd a one-year insurance policy was purchased for P1,200. The
account number for Prepaid Insurance is 14.
(b) On January 5th Davidson received a payment on account from Pasher Industries
of P850.
(c) On January 12th Davidson made sales on account of P5,000 and sales for cash
of P3,100. The Fees Earned account number is 41.
(d) On January 26th Davidson received P2,500 in rent revenue from a tenant who
leases a portion of their building. The Rent Revenue account number is 43.
(e) On January 29th Davidson received a payment on account from Gooden, Inc. for
P900.

Other Accounts
Account Post. Account Receivable Cash
Date Credited Ref. Cr. Cr. Dr.
 ANS:
Other Accounts
Account Post. Account Receivable Cash
Date Credited Ref. Cr. Cr. Dr.
Pasher
1/5/10 Industries 850 850
1/12/10 Fees Earned 41 3,100 3,100
1/26/10 Rent Revenue 43 2,500 2,500
1/29/10 Gooden, Inc. 900 900

Transaction (a) should be recorded in the Cash payments journal and the sales on account in transaction (c) should be
recorded in the Revenue journal.

3. Anderson, Inc. incurred the following transactions during the month of February, 2010. Record the appropriate ones in
the Cash payments journal. If a transaction should not be recorded in the Cash payments journal, indicate where is
should be posted.

(a) On February 3rd the company purchased P650 worth of supplies on account.
The Supplies account number is 15.
(b) On February 5th Anderson made a payment on account to Sanders Industries in
the amount of P1,125 - check number 2004.
(c) On February 14th Anderson bought a one-year insurance policy for P1,500. The
Prepaid Insurance account number is 14 - check number 2005
(d) On February 22nd Anderson paid monthly rent of P2,000. The Rent Expense
account number is 63 - check number 2006.
(e) On February 26th Anderson purchased equipment making a down payment of
P3,000 (check number 2007) and agreeing to pay the P4,000 balance in 30 days.
The Equipment account number is 18.

Other Accounts
Check Post. Account Payable Cash
Date Number Account Debited Ref. Dr. Dr. Cr.

ANS:
Other Accounts
Check Post. Account Payable Cash
Date Number Account Debited Ref. Dr. Dr. Cr.
2/5/10 2004 Sanders Industries 1,125 1,125
2/14/10 2005 Prepaid Insurance 14 1,500 1,500
2/22/10 2006 Rent Expense 63 2,000 2,000
2/26/10 2007 Equipment 18 3,000 3,000

Transaction (a) should be recorded in the Purchases journal as should the P4,000 balance due on the equipment in
transaction (e).

PROBLEMS TO BE SOLVED (Use bond Papers for your Special Journals)

1. The following are selected transactions related to purchases on account and cash payments completed during April of the
current year.

Apr 1 Issued Check No. 60 in payment of rent for month, P2,400.

       5 Purchased office supplies from Clauson Co., P850.
       9 Issued Check No. 61 to Dame Co. for P9,750 for cash purchase of equipment.
     10 Purchased store supplies from Ewing Co., P425.
     15 Issued Check No. 62 to Clauson Co. in payment of April 5 invoice.
     17 Purchased store supplies from Patton Co., P7,500.
     20 Issued Check No. 63 to Ewing Co. in payment of April 10 invoice of P425.
     25 Purchased equipment from Sloan Co., P7,750.
     27 Issued Check No. 64 to Patton Co..for partial payment of the April 17 invoice, P4,000.
     30 Purchased office supplies from Winthrop Co., P400.

(a) Record the transactions, using the accompanying journals.

(b) Total and rule the purchases and cash payments journals as of April 30.
(c) Indicate the method of posting the individual items and the totals of the purchases and
cash payments journals in the following manner:
(1) For individual items and totals to be posted to the subsidiary ledger or not to be
posted, insert a check mark in the Posting Reference column or below the totals.
(2) For individual items and totals to be posted to the general ledger, insert the
letter "G" (as a substitute for specific account numbers) in the Posting
Reference column or below the totals.

CASH PAYMENTS JOURNAL

Other
Accounts

Check
Account
Post.
Accounts
Payable
Cash
Date
No.
Debited
Ref.
Dr.
Dr.
Cr.
Apr 1
60
Rent expense

2400

2400
9
61
Equipment
 9750

9750
15
62
Clauson Co.

850
850
20
63
Ewing Co.

425
425
27
64
Patton Co.

4000
4000

12150 (G)
5275 (G)
17425 (G)

PURCHASES JOURNAL
)

Accounts
Store
)

Account
Post.
Payable
Supplies
)

Date
Credited
Ref.
Cr.
Dr.
)

Apr 5
Clauson Co.

850

10
Ewing Co.

425
425

17
Patton Co.

7500
7500

25
Sloan Co.

7750

30
Winthrop Co.

400

16925 (G)
7925(G)
(
Other Accounts Dr.

( Office

( Supplies

Post.

( Dr.   
Account
Ref.
Amount
2. Listed below are selected transactions completed by Ridge Company during March of the current year.

Mar 5 Rendered services on account to Quinton Co., Invoice No. 92, P2,500.
10 Rendered services on account to Martin Inc., Invoice No. 93, P8,500.
13 Received P5,150 in payment of monthly rent, which was due on March 1.
15 Received payment from Quinton Co. for invoice of March 5.
19 Received payment from Martin Inc. for balance due on invoice of March 10.
20 Received amount due from Thomas Co. on sale made in February, P2,300.
31 Recorded cash from services rendered for cash during the month, P14,150.

(a) Record the transactions, using the accompanying revenue journal and cash receipts
journal.
(b) Total and rule the revenue and cash receipts journals.
(c) Indicate the method of posting the individual items and the columnar totals of the
revenue and cash receipts journals in the following manner:
(1) For individual items and totals to be posted to the subsidiary ledger or not to be
posted, insert a check mark in the Posting Reference column or below the totals.
(2) For individual items and totals to be posted to the general ledger, insert the
letter "G" (as a substitute for specific account numbers) in the Posting
Reference column or below the totals.

REVENUE JOURNAL
Post. Accts. Rec. Dr.
Date Invoice No. Account Debited Ref. Services Revenue Cr.
March 5 92 Quinton Co. / 2 500
10 93 Martin Inc. / 8 500
31 11 000 (G)

CASH RECEIPTS JOURNAL

Other Accts.
Account Post. Accounts Rec. Cash
Date Credited Ref. Cr. Cr. Dr.
March 13 Rent revenue (G) 5150 5150
15 Quinton Co. / 2 500 2500
19 Martin Inc. / 8500 8 500
20 Thomas Co. / 2300 2300
31 Services revenue (G) 14 150 14 150
31 19 300 13 300 32 600
/ (G)