Chap 05 Power Point Slides

5
Accounting
Systems
1
After studying this chapter, you should
be able to:
1. Define an accounting system and describe
its implementation.
2. Journalize and post transactions in a
manual accounting system that uses
subsidiary ledgers and special journals.
2
After studying this chapter, you should
be able to:
3. Describe and give examples of additional
subsidiary ledgers and modified special
journals.
4. Apply computerized accounting to the
revenue and collection cycle.
5. Describe the basic features of e-commerce.
3
5-1
Objective 1
Define an accounting
system and describe its
implementation.
4
Accounting Information system
• Collect and process data from transactions and

events
• Organize them in useful reports, and
• Communicate results to decision makers
5
Fundamental System Principles
Control Principle
Internal controls for
management to monitor
the business.
Relevance Principle
Cost-Benefit Principle Provide relevant, timely
Benefits of the system and pertinent
must outweigh the costs information.
incurred.
Compatibility Principle
Flexibility Principle Need System must be
to change as company compatible with aims of
and environment change. the company.
Internal Controls 5-1
Internal controls are policies

and procedures that protect
assets from misuse, ensure that
business information is accurate,
and ensure that laws and
regulations are being followed.
7
Components of Accounting
Systems
Invoice from
supplier
Increasingly, source
documents are
Employee electronic files creating
earnings
Source records
a “paperless” system.
Documents
Billings to
customers
Systems
Source
Documents
Input Devices
Keyboards
Scanners
Modems
Bar-Code Reader
Systems
Source
Documents
Hardware
Software
Professional
Judgment
Processor
Systems
Source
Documents
CD
Hard Drive
Tape
Paper Document
Processor Storage
Systems
Printer
Monitor
Telephone
CD
Source
Tape
Documents
Disk
Electronic File
Processor Storage Output

Accounting Systems Growth Process 5-1
13
5
Three Step Process as a Business 5-1
Grows and Changes
Step 1: Analysis
 Identify the needs of those who use the
business’s financial information.
 Determine how the system should
provide this information.
14
5-1
Step 2: Design
 The system is designed so that it meets
the users’ needs.
Step 3: Implementation
 The system is implemented and used.
15
Feedback 5-1
Once a system has been

implemented, feedback, or input
from the users of the information
can be used to analyze and
improve the system.
16
Processing Methods 5-1
Processing methods are the

means by which the system
collects, summarizes, and
reports accounting information.
These methods may be either
manual or computerized.
17
5-2
Objective 2
Journalize and post transactions
in a manual accounting system
that uses subsidiary ledgers and
special journals.
18
5-2
A large number of individual

accounts with a common
characteristic can be grouped
together in a separate ledger called
a subsidiary ledger.
19
5-2
The primary ledger, which

contains all of the balance
sheet and income statement
accounts, is called a
general ledger.
20
5-2
Each subsidiary ledger is

represented in the general
ledger by a summarizing
account, called a
controlling account.
21
5-2
The individual customers’

accounts are arranged in
alphabetical order in a subsidiary
ledger called the accounts
receivable subsidiary ledger or
customers ledger.
22
5-2
The individual creditors’

accounts are arranged in
alphabetical order in a
subsidiary ledger called the
accounts payable
subsidiary ledger, or
creditors ledger.
23
Subsidiary Ledgers
Controlling
Characteristic Account Subsidary Ledger
Amounts due from Accounts Accounts Receivable
customers Receivable Ledger
Amounts owed to Accounts Accounts Payable
creditors Payable Ledger
Subsidiary ledgers are a listing of individual

accounts with common characteristics.
General Ledger and Subsidiary Ledgers 5-2
General Ledger
Cash 11 Accounts Receivable

Subsidiary Ledger
Accts. Rec. 12 Customer Accounts
A B C D
Supplies 14 Accounts Payable

Subsidiary Ledger
Accts. Pay. 21 Creditor Accounts
A B C D 25
17
Accounts Receivable Ledger
Accounts Receivable Subsidiary
After all items are Adams Company
posted, the balance in Date PR Debit Credit Balance
the accounts Jan. 1 S5 500 500
receivable Accounts Receivable Subsidiary
Baine Company
controlling account is
Date PR Debit Credit Balance
equal to the sum of
Jan. 16 S5 1,000 1,000
the balances in the Accounts Receivable Subsidiary
subsidiary ledger. Cook Company
Jan. 25 S5 415 415
GENERAL LEDGER
Accounts Receivable No. 106
Jan. 31 S5 1,915 1,915
Special Journals 5-2
SELLING
For recording Credit sales
recorded in Sales journal
Revenue journal
Receipt of cash from any source
recorded in Cash receipts journal
18
27
BUYING
Purchase of items on account
recorded in Purchases journal
Payment of cash for any purpose
recorded in Cash payments journal
19
28
The all-purpose two-column

journal, called the general journal
or simply the journal can be used
for entries that do not fit into any of
the special journals.
29
5-2
The revenue journal is used for

recording fees earned on account.
Cash fees earned would be recorded
in the cash receipts journal.
30
Sales Journal
On January 1, Jim
Carson purchased $600
of merchandise on
account from Barry’s
Bikes. Record the entry
in the Sales Journal.
(Assume the use of a periodic
inventory system.)
Sales Journal
SALES JOURNAL Page 1
Invoice Dr. Accts.
Date Account Debited Number PR Rec. Cr. Sales
Jan. 1 Jim Carson 824 600
Each transaction yields a debit to Accounts Receivable and a

credit to Sales. We need only one column for this transaction.
This column total is posted monthly.
Date Accounts Debited Invoice P/R Dr. Cost of Dr. Accts.
# Merch. Sold Cr. Rec. Cr. Sales
Mds. Inven.
Jan 1 Jim Carson 824 360 600
33
Sales Journal
Date Accounts Debited Invoice P/R Dr. Cost of Dr. Accts.
# Merch. Sold Cr. Rec. Cr. Sales
Mds. Inven.
Jan 1 Jim Carson 824 360 600
• Each transaction yields a debit to Accounts Receivable as well as to

Cost of Merchandise Sold and a credit to Sales and Merchandise
Inventory. We need only two columns for this transaction. Column
totals are posted monthly. 34
Sales Journal
Invoice Dr. Accts.
Jan. 1 Jim Carson 824 600
Daily, each transaction is ACCOUNTS RECEIVABLE LEDGER

posted to the appropriate Jim Carson
accounts receivable
subsidiary account. Date PR Debit Credit Balance
Jan. 1 600 600
Sales Journal
Invoice Dr. Accts.
Jan. 1 Jim Carson 824 ü 600
A ü in the posting ACCOUNTS RECEIVABLE LEDGER

reference column
indicates the transaction Jim Carson
was posted to the Date PR Debit Credit Balance
subsidiary account.
Jan. 1 S1 600 600
Sales Journal
Invoice Dr. Accts.
7 Tom Talley 825 ü 900
22 Sue Wright 826 ü 200
31 Total 1,700
Here is the Sales Journal after recording some

additional sales.
Sales Journal
Invoice Dr. Accts.
31 Total 1,700
GENERAL LEDGER
Jan. 31 1,700 1,700
Post the total to the GENERAL LEDGER
Sales No. 413
General Ledger Date PR Debit Credit Balance
accounts. Jan. 31 1,700 1,700
Sales Journal
Invoice Dr. Accts.
31 Total 1,700
GENERAL LEDGER
Jan. 31 S1 1,700 1,700
GENERAL LEDGER
Sales No. 413
Jan. 31 S1 1,700 1,700
Sales Journal
Invoice Dr. Accts.
31 Total 1,700
(106/413)
GENERAL LEDGER
Jan. 31 S1 1,700 1,700
GENERAL LEDGER
Sales No. 413
Jan. 31 S1 1,700 1,700
Proving the Ledger
Barry's Bikes
Schedule of Accounts Receivable
The Accounts January 31, 2002
Receivable Jim Carson $ 600
controlling Tom Talley 900
account and the Sue Wright 200
subsidiary Total accounts receivable $ 1,700
ledger are in
balance. GENERAL LEDGER
Jan. 31 S1 1,700 1,700
Posting the Revenue Journal 5-2
Revenue Journal Page 35

Invoice Post Accts. Rec. – Debit
Date No. Account Debited Ref. Fees Earned – Credit
2008
1 Mar. 2 615 Accessories by Claire 2 2 0 0 00 1
2 6 616 RapZone 1 7 5 0 00 2
3 18 617 Web Cantina 2 6 5 0 00 3
4 27 618 Accessories by Claire 3 0 0 0 00 4
5 5
6 6
42
22
5-2

2008
2 6 616 RapZone 1 7 5 0 00 2
3 18 617 Web Cantina 2 6 5 0 00 3
Accounts Receivable Subsidiary Ledger
5 5
Accessories by Claire
6 6
Date Item P.R. Debit Credit Balance
2008
Mar. 2 R35 2,200 2,200
43
23
5-2

2008
2 6 616 RapZone 1 7 5 0 00 2
3 18 617 Web Cantina 2 6 5 0 00 3
5 5
Accessories by Claire
6 6
2008
Mar. 2 R35 2,200 2,200
44
24
5-2

2008
2 6 616 RapZone 1 7 5 0 00 2
3 18 617 Web Cantina 2 6 5 0 00 3
5 5
6 6
45
25
Exhibit 2 Revenue Journal 5-2

2008
2 6 616 RapZone 1 7 5 0 00 2
3 18 617 Web Cantina 2 6 5 0 00 3
5 31 9 6 0 0 00 5
6 6
46
26
5-2
The debit total is posted from the

revenue journal to Accounts
Receivable in the general ledger.
ACCOUNT Accounts Receivable Account No. 12
Post. Balance
Date Item Ref. Dr. Cr.
Dr. Cr.
2008
Mar. 1 Balance 3 400 00
31 R35 9 600 00 13 000 00
47
27
Revenue Journal, page 35
5-2

2008
2 6 616 RapZone 1 7 5 0 00 2
3 18 617 Web Cantina 2 6 5 0 00 3
5 31 9 6 0 0 00 5
6 (12) 6
Indicates a debit posting of $9,600 to Accounts

Receivable (General Ledger Account 12)
48
28
5-2
The credit total is posted from the

revenue journal to Fees Earned in
the general ledger.
ACCOUNT Fees Earned Account No. 41
Post. Balance
Date Item Ref. Dr. Cr.
Dr. Cr.
2008
Mar. 31 R35 9 600 00 9 600 00
49
29
Revenue Journal, page 35
5-2

2008
2 6 616 RapZone 1 7 5 0 00 2
3 18 617 Web Cantina 2 6 5 0 00 3
5 31 9 6 0 0 00 5
6 (12) (41) 6
Indicates a credit posting of $9,600 to

Fees Earned (General Ledger Account 41)
50
30
5-2
Example Exercise 5-1

The following revenue transactions occurred during
December:
Dec. 5 Invoice No. 302 to Butler Company for
services provided on account, $5,000.
Dec. 9 Invoice No. 303 to JoJo Enterprises for
Dec. 15 Invoice No. 304 to Double D, Inc. for
Record these transactions in a revenue journal as
illustrated in Exhibit 2. 31
51
5-2
Follow My Example 5-1
Revenue Journal Page

1 Dec. 5 302 Butler Company 5 0 0 0 00 1
2 9 303 JoJo Enterprises 2 1 0 0 00 2
3 15 304 Double D Inc. 3 2 5 0 00 3
4 4
5 5
6 6
For Practice: PE 5-1A, PE 5-1B 32

52
Cash Receipts Journal 5-2
All transactions that involve the

receipt of cash are recorded in a
cash receipts journal.
Every entry recorded in the cash
receipts journal will involve a debit
to the “Cash Dr.” column.
53
Cash Receipts Journal
CASH RECEIPTS JOURNAL Page 1
Sales Accts. Other
Accounts Cash Disc. Rec. Accts.
Date Credited Explanation PR Dr. Dr. Cr. Sales Cr. Cr.
Categories of Cash Receipts

• Cash from cash sales
• Cash from credit customers
• Cash from other sources
CASH RECEIPTS JOURNAL Page
Cost of
Merchandise
Sales Accts. sold Dr.
Accounts Cash Disc. Rec. Sales Merchandise Oth
Credited Explanation PR Dr. Dr. Cr. Cr. Inventory Cr. Accts
Categories of Cash Receipts

• Cash from cash sales
• Cash from credit customers
• Cash from other sources
Page 1
CASH RECEIPTS JOURNAL
Sales Accts.
Accounts Cash Disc. Rec. Other
Date Credited Explanation PR Dr. Dr. Cr. Sales Cr. Accts. Cr.
May 7 Sales Cash Sales
üü 300 300
16 Jane Waters Invoice 656
ü 441 9 450
31 Interest Revenue Bank Acct. 409 15 15
31 Total 756 9 450 300 15
(101) (415) (106) (413) ü
( ü)
üü Amount is not posted individually to an account.

ü Amount is posted individually to subsidiary ledger.
Acct. No. Amount is posted to specified account.
Cash Receipts Journal and Postings 5-2

Other Accounts
Post Accounts Receivable Cash
Date Account Credited Ref. Cr. Cr. Dr.
2008
Mar. 1 Rent Revenue 42 400 400
19 Web Cantina 3,400 3,400
28 Accessories by Claire 2,200 2,200
30 RapZone 1,750 1,750
GENERAL LEDGER
ACCOUNT Rent Revenue Acct. No. 42
Date Item P.R. Debit Credit Cr. Bal.
2008
Mar. 1 CR14 400 400 34
57
5-2

Other Accounts
2008
19 Web Cantina 3,400 3,400
30 RapZone 1,750 1,750

Web Cantina
2008
Mar. 1 Bal. 3,400 58
35
18 R35 2,650 6,050
19 CR14 3,400 2,650
5-2
After all journalizing and

posting for the month to
individual accounts is complete,
the columns are totaled.
59
Posted Cash Receipts Journal 5-2

Other Accounts
2008
19 Web Cantina 3,400 3,400
30 RapZone 1,750 1,750
400 7,350 7,750
( ) (12) (11)
A checkmark indicates that

60
37
the items in this column are
posted individually.
5-2
After posting, the total amount of the

accounts in the accounts receivable
subsidiary ledger should match the
balance in the general ledger’s
Accounts Receivable account.
61
5-2
Accounts Receivable—(Controlling)
Balance, March 1, 2008 $3,400
Total debits (from revenue journal) 9,600
Total credits (from cash receipts journal) (7,350)
NetSolutions
Customer Balance Summary Report, March 31, 2008
Accessories By Claire $3,000
RapZone 0
Web Cantina 2,650
Total accounts receivable $5,650
62
39
5-2

The debits and credits from two transactions are presented
in the following customer account:
NAME Sweet Tooth Confections

ADDRESS 1212 Lombard St.
Date Item P.R. Dr. Cr. Balance
July 1 Bal. 625
7 Inv. 35 R12 86 711
31 Inv. 31 CR4 122 589
Describe each transaction and the source of each posting.

40
63
5-2
July 7 Provided $86 services on account to Sweet Tooth

Confections, itemized on invoice 35. Amount
posted from page 12 of the revenue journal.
July 31 Cash of $122 was collected from Sweet Tooth
Confections (invoice 31). Amount posted from
page 4 of the cash receipts journal.

64
5-2
The purchases journal is

designed for recording all
purchases on account.
65
Purchases Journal
The Purchases
Journal is used to
record all purchases
on credit.
Journalizing in the Purchases Journal 5-2
PURCHASES JOURNAL Page 11

Accts. Merchandise Other
Post Payable Inventory Accounts Post
Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount
2008
Mar. 3 Howard Supplies 600 600
7 Donnelly Supplies 420 420
12 Jewett Business Sys. 2,800 Off. Equip. 2,800
19 Donnelly Supplies 1,450 1,450
27 Howard Supplies 960 960
67
43
Purchases Journal for a Merchandising 5-2
Business
Accts. Merchan- Other
Post Payable dise Invent.Accounts Post
2008
Mar. 3 Compu-Tek 13,880 13,880
7 Donnelly Tech. 4,650 4,650
12 Jewett Business Sys. 5,700 Store Equip. 5,700
19 Donnelly Tech. 1,450 1,450
27 Compu-Tek 960 960
68
43
5-2
Note that the March 12 purchase

of office equipment for $2,800 is
recorded as a debit in the “Other
Accounts Dr.” column. Also note
that the account title is written in
for proper posting.
69
5-2

2008
70
45
Posting the Purchases Journal 5-2

2008
27 Howard SuppliesAccounts Payable
960 960
Subsidiary Ledger
Howard Supplies
2008
Mar 3 P11 600 600
71
46
5-2

2008
12 Jewett Business Sys. 2,800 Off. Equip. 18 2,800
Office Equipment (Account 18 in the

general ledger) is debited for $2,800.
72
47
5-2
At the end of March, all columns are totaled

and equality of debits and credits is verified.
Then the total amount in the “Accounts
Payable Cr.” and “Merchandise Inventory
Dr.” columns are posted. Because Office
Equipment was posted earlier, the $2,800
total is not posted.
73
5-2

2008
31 6,230 3,430 2,800
( 21 ) ( ) ( )
GENERAL LEDGER
ACCOUNT Accounts Payable No. 21
2008 74
49
Mar. 1 Bal 1,230
31 P11 6,230 7,460
5-2

2008
31 6,230 3,430 2,800
( 21 ) ( 13 ) ( )
GENERAL LEDGER
ACCOUNT Merchandise Inventory No. 13
2008 75
50
Mar. 1 Bal 2,500
31 P11 3,430 5,930
Cash Payments Journal 5-2
All transactions involving

a credit to Cash are
recorded in the cash
payments journal.
76
5-2
CASH PAYMENTS JOURNAL PAGE 7

Other Accounts
Ck. Post Accounts Payable Cash
Date No. Account Debited Ref. Dr. Dr. Cr
2008
Mar. 2 150 Rent Expense 1,600 1,600
On March 2, issued Check 150

for rent of $1,600.
77
52
5-2

Other Accounts
2008
15 151 Grayco Supplies 1,230 1,230
On March 15, issued Check 151 to

Grayco Supplies on account, $1,230.
78
53
5-2
Let’s post to the accounts

payable subsidiary ledger at
this time to keep the
creditors’ account current.
79
5-2
Other Accounts
2008
15 151 Grayco Supplies  1,230 1,230
Accounts Payable Subsidiary Ledger

Grayco Supplies
2008
Mar. 3 Bal. 1,230
15 CP7 1,230 --- 80
55
5-2
Other Accounts
2008
15 151 Grayco Supplies  1,230 1,230
21 152 Jewett Business Sys. 2,800 2,800
22 153 Donnelly Supplies 420 420
30 154 Utilities Expense 1,050 1,050
31 155 Howard Supplies 600 600
Journalize the remainder of

March’s cash disbursements.
81
56
5-2
Other Accounts
2008
15 151 Grayco Supplies  1,230 1,230
21 152 Jewett Business Sys.  2,800 2,800
22 153 Donnelly Supplies  420 420
31 155 Howard Supplies  600 600
Journalized
Post tothe remainder of
individual
March’s cash disbursements.
creditor’s accounts.
82
5721
5-2
Other Accounts
2008
15 151 Grayco Supplies  1,230 1,230
31 2,650 5,050 7,700
The journal is ruled, summed, and verified for

equality of debits and the “Cash Cr.” column. 83
58
5-2
Other Accounts
2008
Mar. 2 150 Rent Expense 52 1,600 1,600
15 151 Grayco Supplies  1,230 1,230
30 154 Utilities Expense 54 1,050 1,050
31 in the “Other Accounts Dr.”
Items 2,650 5,050 7,700
column are posted. Then the totals ( ) (21) (11)
for “Accounts Payable Dr.” and 84
“Cash Cr.” are posted. 59
Accounts Payable Control and 5-2
Subsidiary Ledger
Accounts Payable—
(Control)
Total credits (from purchases journal) 6,230
Total debits (from cash payments journal) (5,050)
NetSolutions
Supplier Balance Summary Report
March 31, 2008
Donnelly Supplies $1,450
Grayco Supplies 0
Howard Supplies 960
Jewett Business Systems 0 85
60
Total $2,410
5-2

The debits and credits from two transactions are presented
in the following creditor’s (supplier’s) account:
NAME Lassiter Services, Inc.

ADDRESS 301 St. Bonaventure Ave.
Aug. 1 Bal. 320
12 Inv 101 CP36 200 120
22 Inv 106 P16 140 260
Describe each transaction and the source of each posting.

61
86
5-2
Aug. 12 Payment of $200 to Lassiter Services, Inc. on

account (Inv. 101). Amount posted from page
36 of the cash payments journal.
Aug. 22 Purchased $140 of services on account from
Lassiter Services, Inc. itemized on Inv. 106.
Amount posted from page 16 of the purchases
journal.

87
5-3
Objective 3
Describe and give
examples of additional
subsidiary ledgers and
modified special journals.
88
Modified Special Journals 5-3
A business may modify its special

journals by adding one or more
columns for recording transactions
that occur frequently.
89
5-3
On November 2,
NetSolutions issued Invoice
No. 842 to Litten Company
for $4,770, which included
sales taxes of $270.
90
Modified Revenue Journal 5-3

Invoice Accts. Rec. Fees Earned Sales Tax. Pay
Date No. Account Debited PR Dr. Cr. Cr.
2008
Nov. 2 842 Litten Co. 4 770 00 4 500 00 270 00
91
66
5-3

2008
Nov. 2 842 Litten Co. 4 770 00 4 500 00 270 00
$4,770 is debited to Litten

Co. in the accounts
payable subsidiary ledger
92
67
5-3

2008
Nov. 2 842 Litten Co. 4 770 00 4 500 00 270 00
A checkmark indicates
that the amount has
been posted.
93
68
5-3
On November 3, issued Invoice

No. 843 to Kaufman Supply
Company for $1,166, which
included sales taxes of $66.
94
5-3

2008
Nov. 2 842 Litten Co. 4 770 00 4 500 00 270 00
3 843 Kaufmann Supply 1 166 00 1 100 00 66 00
95
70
5-4
Objective 4
Apply computerized
accounting to the revenue
and collection cycle.
96
Database 5-4
A database collects,
stores, and organizes
information in a
retrievable format.
97
5-4
98
73
5-4
At any time, managers may request

reports from the software.
1) The customer balance
summary.
2) The fees earned by customer
detail.
3) The cash receipts.
99
5-5
Objective 5
Describe the basic
features of e-commerce.
100
e-Commerce 5-5
Using the Internet to

perform business
transactions is
termed e-commerce.
101
B2C 5-5
When transactions are between

a company and a consumer, it
is termed B2C (business-to-
consumer) e-commerce.
102
5-5
Three more advanced areas where the

Internet is being used for business
purposes are:
 Supply chain management (SCM)
 Consumer relationship management
(CRM)
 Product life-cycle management
(PLM)
103

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5

• Collect and process data from transactions and

Internal controls are policies

Processor Storage Output

Once a system has been

Processing methods are the

A large number of individual

The primary ledger, which

Each subsidiary ledger is

The individual customers’

The individual creditors’

Subsidiary ledgers are a listing of individual

Cash 11 Accounts Receivable

Accts. Rec. 12 Customer Accounts

Supplies 14 Accounts Payable

Accts. Pay. 21 Creditor Accounts

The all-purpose two-column

The revenue journal is used for

Each transaction yields a debit to Accounts Receivable and a

• Each transaction yields a debit to Accounts Receivable as well as to

Daily, each transaction is ACCOUNTS RECEIVABLE LEDGER

A ü in the posting ACCOUNTS RECEIVABLE LEDGER

Here is the Sales Journal after recording some

Revenue Journal Page 35

Revenue Journal Page 35

Revenue Journal Page 35

Revenue Journal Page 35

Revenue Journal Page 35

The debit total is posted from the

ACCOUNT Accounts Receivable Account No. 12

Revenue Journal Page 35

Indicates a debit posting of $9,600 to Accounts

The credit total is posted from the

ACCOUNT Fees Earned Account No. 41

Revenue Journal Page 35

Indicates a credit posting of $9,600 to

Example Exercise 5-1

Follow My Example 5-1

Revenue Journal Page

For Practice: PE 5-1A, PE 5-1B 32

All transactions that involve the

Categories of Cash Receipts

Categories of Cash Receipts

üü Amount is not posted individually to an account.

CASH RECEIPTS JOURNAL Page 14

CASH RECEIPTS JOURNAL Page 14

Accounts Receivable Subsidiary Ledger

After all journalizing and

CASH RECEIPTS JOURNAL Page 14

A checkmark indicates that

After posting, the total amount of the

Example Exercise 5-2

NAME Sweet Tooth Confections

Describe each transaction and the source of each posting.

Follow My Example 5-2

July 7 Provided $86 services on account to Sweet Tooth

For Practice: PE 5-2A, PE 5-2B 41

The purchases journal is

PURCHASES JOURNAL Page 11

Note that the March 12 purchase

PURCHASES JOURNAL Page 11

PURCHASES JOURNAL Page 11

PURCHASES JOURNAL Page 11