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    sunnybaby106 Posts: 2, Reputation: 1
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    Oct 21, 2011, 01:40 PM
    I need help with an unbalanced ledger
    I have these written down but I'm unbalance and I don't know where I'm going wrong I just need to know what accounts they go into so I can check myself


    May 1 Paid Rent for May $2,000.
    May 3 Purchased merchandise on account from Tredwell Co. terms 2/10, N/30, FOB shipping point, $10,000.
    May 4 Paid Transportation charges on purchase of May 3, $375.

    May 6 Sold merchandise on account to Parish CO. Terms 2/10, n/30, FOB shipping point, $8,500. The cost of the merchandise sold was $5,000.
    May 7 Received $6,500 cash from Oxford Co. On account, no discount
    May 10 Sold Merchandise for cash, $15,300. The cost of the merchandise sold was $9,000.
    May 13 Paid for merchandise purchased on May 3, less discount
    May 14 Received merchandise returned on sale of May 6, $1,500. The cost of the merchandise returned was $900.
    May 15 Paid advertising expense for last half of May, $1,500
    May 16 Received cash from sale of May6, less return of May 14, and discount.
    May 19 Purchased merchandise for cash, $7,400.
    May 19 Paid $5,950 to Lipham Co. On account, no discount.
    May 20 Sold merchandise on account to Petroski Co. terms 1/10, n/30, FOB shipping point, $15,000. The cost of the merchandise is $9,000.
    May 21 For the convenience of the customer, paid shipping charges on sale of May $600.
    May 21 Received $11,750 cash from Grant Co. On account, no discount.
    May 21 Purchased merchandise on account from Walden Co. terms 1/10, n/30, FOB shipping point, $15,000.
    May 24 Returned $3,500 of damaged merchandise purchased on May 21, receiving credit from the seller.

    May 26 Refunded cash on sales made for cash, $600. The cost of the merchandise turned was $360.
    May 28 Paid sales salaries of $2,750 and office salaries of $1,220.
    May 29 Purchased store supplies for cash $350.
    May 30 Sold merchandise on account to Hartel Co. terms 2/10, n/30, FOB shipping point, $23,100. The cost of the merchandise sold was $13,200.
    May 30 Received cash from sale of May 20, less discount, plus transportation paid on may 21.
    May 31 Paid for purchase of May 21, less return of May 24 and discount.

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