1. Sold office equipment for cash and received book value Debit cash, Accum. depreciation Credit Office Equipment Cash Receipts Journal

2. Sold delivery equipment for more than book value Debit Cash Accum. Dep- DE Credit Delivery Equipment Gain on Plant Asset Cash Receipts Journal

3. Wrote off past-due account of Gina Gates as uncollectible Debit Allow. for Uncollectible Accts. Credit AR/Gina Gates General Journal

4. Reopened Gina Gates account that had been previously written off Debit AR/Gina Gates Credit Allow. for Uncollectible Accts. General Journal

5. Received cash from Gina Gates for the amount due. Debit Cash Credit AR/Gina Gates Cash Receipts Journal

6. Sold delivery equipment for less than book value Debit Cash Accum. Dep- DE Loss on Plant Asset Credit Delivery Equipment Cash Receipts Journal

7. Accepted a note from Patti Day for an extension of time. Debit Notes Receivable Credit AR/Patti Day General Journal

8. Received cash for the maturity value of a note receivable. Debit Cash Credit Notes Receivable Interest Income Cash Receipts Journal

9. Joe Brothers dishonored his notes receivable. Debit AR/Joe Brothers Credit Notes Receivable Interest Income General Journal

10. Signed a note with the American Bank. Debit Cash Credit Notes Payable Cash Receipts Journal

11. Signed a note with Lawrence Supply for an extension of time. Debit AP/Lawrence Supply Credit Notes Payable General Journal

12. Paid cash for the maturity value of a notes payable. Debit Notes Payable Interest Expense Credit Cash Cash Payments Journal

13. Paid cash for semimonthly payroll less income tax, Medicare and social security. Debit Salary Exp. Credit Emp. Inc. Tax Pay. Medicare Tax Pay. SS Tax Pay. Cash Cash Payments Journal

14. Recorded employer payroll tax expense. Debit Payroll Tax Exp. Credit Medicare Tax Pay SS Tax Pay Fed. Unemploy. Tax Pay State Unemploy. Tax Pay General Journal

15. Paid cash for liability for employee income tax, Medicare, social security. Debit Emp. Inc. Tax Pay Medicare Tax Pay SS Tax Pay Credit Cash Cash Payments Journal

16. Paid cash for federal unemployment tax liability. Debit Fed. Unempl. Tax Pay. Credit Cash Cash Payments Journal

17. Paid cash for state unemployment tax liability. Debit State Unemploy. Tax Pay Credit Cash Cash Payments Journal

18. The board of directors declared dividends. Debit Dividends Credit Dividends Payable General Journal

19. Paid cash for dividends that were previously declared. Debit Dividends Payable Credit Cash Cash Payments Journal

20. Dissolving a partnership: received cash from sale of delivery equipment in which there was a gain. Debit Cash Accum. Deprec.—DE Credit Delivery Equipment Loss & Gain on Realization Cash Receipts Journal

21. Dissolving a partnership: received cash from sale of supplies in which there was a loss. Debit Cash Loss & Gain on Realization Credit Supplies Cash Receipts Journal

22. Dissolving a partnership: Paid cash to all creditors for amounts owed. Debit Accounts Payable Credit Cash Cash Payments Journal

23. Dissolving a partnership: Recorded distribution of Gain on Realization Debit Loss & Gain on Realization Credit Partner Capital Accounts General Journal

24. Dissolving a partnership: Recorded final distribution of remaining cash to partners. Debit Partner Capital Accounts Credit Cash Cash Payments Journal

25. Recorded international cash sale. Debit Cash Credit Sales Cash Receipts Journal

26. Recorded a time draft receivable for an international sale. Debit Time Draft Receivable Credit Sales General Journal

27. Received cash for the value of the time draft receivable. Debit Cash Credit Time Draft Receivable Cash Receipts Journal

28. Recorded Internet credit card sales. Debit Cash Credit Sales Cash Receipts Journal

29. Recorded adjusting entry for uncollectible accounts expense. Debit Uncollectible Accts. Exp. Credit Allow. for Uncollectible Accts. Note: all adjusting, closing and reversing entries are in the general journal.

30. Recorded adjusting entry for estimated depreciation. Debit Depreciation Exp. Credit Accumulated Depreciation

31. Recorded adjusting entry for increase to merchandise inventory Debit Merchandise Inv. Credit Income Summary

32. Recorded adjusting entry for Prepaid Insurance Debit Insurance Exp. Credit Prepaid Insurance

33. Recorded adjusting entry for supplies. Debit Supplies Exp. Credit Supplies

34. Recorded adjusting entry for accrued interest income. Debit Interest Receivable Credit Interest Income

35. Recorded adjusting entry for accrued interest expense. Debit Interest Expense Credit Interest Payable

36. Recorded adjusting entry for Federal Income Tax Expense Debit Federal Income Tax Expense Credit Federal Income Tax Payable

37. Close the sales account. Debit Sales Credit Income Summary

38. Close the purchases account. Debit Income Summary Credit Purchases

39. Close the rent expense account. Debit Income Summary Credit Rent Expense

40. Close purchases discount account. Debit Purchases Discount Credit Income Summary

41. Close the sales returns and allowances account. Debit Income Summary Credit Sales Ret. & Allow.

42. Close Income Summary for corporation (net income). Debit Income Summary Credit Retained Earnings

43. Close dividends. Debit Retained Earnings Credit Dividends

44. Reversing entry for accrued interest expense. Debit Interest Payable Credit Interest Expense

45. Reversing entry for accrued interest income. Debit Interest Income Credit Interest Receivable