December 11
Sold old store equipment for $320 cash. The equipment originally
Cost $1,025 and depreciation to September 30 of this year (the end
Of the third quarter) totals $820. The asset depreciates on a
Straight-line basis at a rate of $20 per month and depreciation is
Calculated to the nearest month (two entries required). At the
Invoice prompt type ASALE.
************************************************** ****
December 11
Issued check 30093 to the Oroville Freight Company for $199.75
As payment in full on invoice L3111. The invoice is for freight
Charges on merchandise delivered to customers under shipping
Terms of FOB destination.
************************************************** ****
December 11
Returned shop supplies with a total cost of $56.00 to Buster
Supply. The shop supplies were purchased on account December
4 (invoice number B5667).
************************************************** ****
December 12
Received a certified check for $1,310.00 from customer Alice
Cordero as payment in full on her account. Ms. Cordero's account
Was written off as uncollectible on November 15 of this year (two
Entries required). The first step is to restore the customers
Account balance. At the invoice prompt type RECOV.
************************************************** ****
December 12
Received a check from Western National Credit Card Company for
$7,355.18 as payment in full on credit card invoices that had been
Received through December 1. The invoices, for sales made in late
November and early December, totaled $7,641.75 and Western
National charges a 3.75% fee for use of their system. The
Summary number for these invoices is CC301.
Gold Run Snowmobile – Module 2
5th Edition, Copyright © 2010 PKL Software, Incorporated. All rights reserved.
Last Revised: April 1, 2010
Page 3
TRANSACTIONS FOR DECEMBER 11-17
Student Analysis
December 13
After exhausting all alternatives to initiate collection, wrote off the
$435.00 balance of customer Chris Enburger. At the invoice
Prompt enter WROFF.
************************************************** ****
December 13
Purchased accessory items for inventory on credit from Fastwinn,
Incorporated. The cash terms are 2/10, n/30, the purchase invoice
Number 44777, and the goods are shipped FOB shipping point.
Net purchase price for the merchandise is $573.30, added freight
Charges $43.50, and the final net amount of the invoice totals
$616.80.
Merchandise listed on the purchase invoice:
Stock
Number
Item
Quantity
Net
Cost
Per
Unit
U1000
MICRO WINDSHIELD
5
$44.10
V0333
SNOWMOBILE COVER
6
$58.80
Freight charges added to the invoice:
Freight Charges
$43.50
************************************************** *****
December 13
Instead of repairing the heavy duty shop hoist at a cost of $1,656
And charging this cost to an operating expense account, the hoist,
Which has one year remaining in its estimated useful life, is
Completely overhauled at a cost of $3,600 (check 30094, invoice
Number 35556). This overhaul will extend the useful life of the
Hoist to four years. The Shop Equipment account will be
Debited directly for this extraordinary repair.
Gold Run Snowmobile – Module 2
5th Edition, Copyright © 2010 PKL Software, Incorporated. All rights reserved.
Last Revised: April 1, 2010
Page 4
TRANSACTIONS FOR DECEMBER 11-17
Student Analysis
December 13
Sold two Trail-Tracker 2000 snowmobiles and a Norton trailer to
Customer Karen Osetto at an out-the-door price of $14,697.79
Which includes sales tax (sales invoice number G3012). Ms.
Osetto presented a check for $6,000 as a cash down payment and
Charged the balance to her account. The account will be paid in
Full in 30 days. To calculate the total sales amount divide the outthe-
Door price by 1.07. The difference between the answer and the
Total selling cost will be the sales tax.
Merchandise listed on the sales invoice:
Stock
Number
Item
Quantity
Net
Cost
Per
Unit
T2000
TRAIL-TRACKER 2000
2
$5,148.00
SD200
NORTON TRAILER DUO
1
$693.00
************************************************** *****
December 13
Issued a $370 check (number 30095) to Outdoors Unlimited
Magazine for advertising to be featured in the December 20 issue.
Invoice number 87333 was received in today's mail.
************************************************** *****
December 14
Sold six Swift snowmobiles and six batteries to the Colfax Sno
Katts for $50,094 plus sales tax (sales invoice number G3013).
The club presented a certified check as payment in full for their
New equipment.
Merchandise listed on the sales invoice:
Stock
Number
Item
Quantity
Net
Cost
Per
Unit
SW660
SWIFT ENDURO
5
$5,940.00
SW999
SWIFT ARROW
1
$9,900.00
A1150 SUPER CHARGER
BATTERY
6 $49.50
Gold Run Snowmobile – Module 2
5th Edition, Copyright © 2010 PKL Software, Incorporated. All rights reserved.
Last Revised: April 1, 2010
Page 5
TRANSACTIONS FOR DECEMBER 11-17
Student Analysis
December 14
Issued check 30096 for as payment in full of the Buster Supply
Store equipment and store supplies purchase of December 4
(invoice number B5667), less the $56.00 supply return of
December 11.
************************************************** ****
December 15
Sold 500 shares of Ramblewood Manufacturing Corporation
Common stock that had been held as a short-term investment. The
Stock sold for 12 3/8, less a commission of $137.75. The stock
Was originally purchased as a block of 1,000 shares at a total cost
(including commission) of $9,250.00. At the invoice prompt enter
STINV for stock investment.
************************************************** ****
December 15
Completed 3.25 hours of service and repair work and sold
Customer Mary Bermuda two snowmobile covers and four pairs of
Large snow mittens. Selling price of the merchandise is $414.40,
Labor is $58 per hour, plus sales tax on merchandise and labor
(sales invoice number G3014). Mary charged the full amount to
Her account.
Merchandise listed on the sales invoice:
Stock
Number
Item
Quantity
Net
Cost
Per
Unit
V0333
SNOWMOBILE COVER
2
$58.80
LL355
SNOW MITTENS LARGE
4
$22.40
************************************************** *****
December 15
Received a check for $20,545 from Ruth Yates as payment in full
On her account. The sales invoice number from this November 21
Sale is G2995.
Gold Run Snowmobile – Module 2
5th Edition, Copyright © 2010 PKL Software, Incorporated. All rights reserved.
Last Revised: April 1, 2010
Page 6
TRANSACTIONS FOR DECEMBER 11-17
Student Analysis
December 15
Issued check number 30097 to Zak Veedecampf, the part-time
Repair and sales person for the business. Zak is paid $8.50 per hour
And worked 43.5 hours during the past two-week period ended
December 14. At the invoice prompt enter PAYRL.
************************************************** ****
December 15
Issued check number 30098 to Swift, Incorporated, as payment in
Full of invoice S4101. A total of fifteen Cruze faceshields were
Purchased for $148.50 (net) on December 5.
************************************************** ****
December 16
Issued check 30099 in payment of invoice T4357 from Trail-
Tracker, Incorporated. Check the balance due to Trail-Tracker by
Calling up the Accounts Payable Subsidiary Ledger. Remember
That this account balance has been recorded using the net method.
************************************************** ****
December 16
Issued credit memo CM307 to customer Mary Bermuda for $47.94
For the return of one pair of LL355 SNOW MITTENS LARGE.
The mittens sold for $44.80 plus tax on December 15 (sales
Invoice number G3014). The inventory cost of the mittens is
$22.40.
************************************************** ****
December 17
Issued check 30100 to the Oroville Freight Company for $383.50
As payment in full on invoice L3279. The invoice is for freight
Charges on merchandise received from Morelli Sports Equipment
On December 10.
Gold Run Snowmobile – Module 2
5th Edition, Copyright © 2010 PKL Software, Incorporated. All rights reserved.
Last Revised: April 1, 2010
Page 7
TRANSACTIONS FOR DECEMBER 11-17
Student Analysis
December 17
Received notice from the bank that the $6,000 check received from
Customer Karen Osetto on December 13 has not cleared due to lack
Of funds. The balance of this NSF check and an additional $20
Handling fee will be charged back to Ms. Osetto's account (sales
Invoice number G3012). The handling fee charged by Gold Run
Snowmobile will be entered as Miscellaneous Revenue. At the
Check number prompt type BADCK.
************************************************** ****
December 17
Completed 3.25 hours of service work and sold customer Alex
Wong a Quad Hauler trailer. The retail selling price for the trailer
Is $1,485.00. The full amount due, including sales tax (sales
Invoice G3015), is paid with a Bank Credit Card. The bank will
Charge Gold Run Snowmobile a credit card fee (1-4%) which will
Be billed and recorded at the end of the month.
Merchandise listed on the sales invoice:
Stock
Number
Item
Quantity
Net
Cost
Per
Unit
SSS30
QUAD HAULER
1
$1,188.00
************************************************** *****
December 17
Issued debit memo number DM211 for $58.80 (net cost) and
Returned to Fastwinn, Incorporated, one V0333 SNOWMOBILE
COVER. The cover contained a major defect in the side panel and
Was not saleable. It was part of a December 13 purchase (invoice
44777).

Impressive copy and paste job.