I am in charge of a fake business. I have posted all transactions to general journal, sales journal, purchase journal, cash receipts journal and cash payments journal. I have totaled all columns in these journals. I need to know how to post from the sales, purchases, cash recpts, cash pmts journal to my subsidiary ledgers.
For example: merchandise Inventory forward balance was $243,500. Sales has a credit $66897, purchase: debit, $84,105, cash rcpts: cr, $50,580, cash pmts: cr, $491.40 and lastly Gen journal: dr, 300, cr, 360, dr: 90, cr, 135. So I would do ($243,500+84,105+300+90)-(66897+50580+491.4+360+135)=327,995-118,463.4=$209,531.60 How would I post this to my subsidiary ledger?