Answer To: this is an e xcel mini project. i have to give the expert an excel code
Neha answered on May 24 2021
Journal
OverPriced Jeans, Inc - General Journal
2021 Account Number Account Name Posted Debit Credit
Month/Day
3/1 100 Cash - Big Bank x 55,000
300 To Common Stock x 55,000
(Issued additional Common Stock)
3/1 215 Note Payable - Little Bank x 60,000
225 Interest Payable - Little Bank x 450
100 To Cash - Big Bank x 60,450
(Bank debt with interest paid off)
3/1 510 Rent Expense x 5,550
100 To Cash - Big Bank x 5,550
(Rent paid for March)
3/2 100 Cash - Big Bank x 88,000
110 To Account Receivable x 88,000
(Credit paid against account receivable)
3/10 500 Cost of Goods Sold x 24,000
120 To Inventory x 24,000
(Sale of inventory)
3/10 105 Cash - Little Bank x 83,500
400 To Sales Revenue x 83,500
(Cash received from customer)
3/15 515 Wages Expense x 25,000
105 To Cash - Little Bank x 25,000
(Wages paid)
3/16 120 Inventory x 73,750
200 To Accounts Payable x 73,750
(Purchases made on credit)
3/17 500 Cost of Goods Sold x 38,000
120 To Inventory x 38,000
(Sale of inventory)
3/17 110 Accounts Receivable x 119,000
400 To Sales Revenue x 119,000
(Goods sold on credit)
Page 2
3/20 500 Cost of Goods Sold x 33,500
120 To Inventory x 33,500
(Sale of inventory)
3/20 110 Accounts Receivable x 153,000
105 Cash - Little Bank x 25,500
400 To Sales Revenue x 178,500
(Goods sold on partial credit)
3/22 120 Inventory x 44,000
100 To Cash - Big Bank x 44,000
(Purchase made)
3/26 200 Accounts Payable x 36,875
100 To Cash - Big Bank x 36,875
(Paid for purchases)
3/30 515 Wages Expense x 37,250
105 To Cash - Little Bank x 37,250
(Wages paid)
3/30 Interest Expense 1,295
To Interest Payable 1,295
(Interest payable carried forward)
GL - Asset
OverPriced Jeans, Inc - General Journal
Account # 100 Cash - Big Bank
2021 Description Journal Page # Debit Credit Balance
Month/Day
3/1 Beginning Balance - 76,000 0 76,000 Dr
3/1 Issued common stock 1 55,000 0 131,000 Dr
3/1 Little Bank's note and interest paid 1 0 60,450 70,550 Dr
3/1 March's rent paid 1 0 5,550 65,000 Dr
3/2 Amount received from customer 1 88,000 0 153,000 Dr
3/22 Inventory purchased 2 0 44,000 109,000 Dr
3/26 Paid to manufacturer 2 0 36,875 72,125 Dr
Account # 105 Cash - Little Bank
2021 Description Journal Page # Debit Credit Balance
Month/Day
3/1 Beginning Balalnce - 27,000 0 27,000 Dr
3/10 Receipt on sales 1 83,500 0 110,500 Dr
3/15 Wages paid 1 0 25,000 85,500 Dr
3/20 Partial receipt on sales 2 25,500 0 111,000 Dr
3/30 Wages...