a. Journalize the transactions for the month of October — Betty Cardinal runs Book Shop downtown location her newly hired accountant your

Betty Cardinal runs Cardinal’s Book Shop in a downtown location. As her newly hired accountant, your task is to do the following (substituting HST at 13% for GST at 5% if your instructor so directs):

a. Journalize the transactions for the month of October.

b. Record to subsidiary ledgers and post to the general ledger as appropriate.

c. Total, rule, and cross-foot the journals. d. Prepare a schedule of accounts receivable and a schedule of accounts payable as of October 31, 2013. The following is the partial chart of accounts for Cardinal’s Book Shop:

SOLUTION

CARDINAL'S BOOK SHOP

PURCHASES JOURNAL

CARDINAL'S BOOK SHOP

CASH PAYMENTS JOURNAL

CARDINAL'S BOOK SHOP

CASH RECEIPTS JOURNAL

CARDINAL'S BOOK SHOP

SALES JOURNAL

CARDINAL'S BOOK SHOP

GENERAL JOURNAL

CARDINAL'S BOOK SHOP - ACCOUNTS RECEIVABLE LEDGER

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CARDINAL'S BOOK SHOP

SCHEDULE OF ACCOUNTS RECEIVABLE

OCTOBER 31, 2013

CARDINAL'S BOOK SHOP - ACCOUNTS PAYABLE

CARDINAL'S BOOK SHOP

SCHEDULE OF ACCOUNTS PAYABLE

OCTOBER 31, 2013

CARDINAL'S BOOK SHOP - PARTIAL GENERAL LEDGER

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