To post the given journal entry into the ledger, you need to update the respective subsidiary ledger accounts. Here is a step-by-step guide on how to post this journal entry:
1. Cash Account:
- Date: Mar 5
- Particulars: Record the debit entry of \[tex]$500 in the Cash account.
- P.R.: Reference the journal page number and entry (e.g., J1, which stands for Journal page 1).
- Debit: \$[/tex]500
- Credit: \[tex]$0 (indicating no credit impact on the Cash account for this entry).
T-account representation for Cash:
| Date | Description | Reference | Debit | Credit | Balance |
|------|-------------|-----------|-------|--------|---------|
| Mar 5 | From Journal Entry | J1 | \$[/tex]500 | - | \[tex]$500 ✔ |
2. Unearned Revenue Account:
- Date: Mar 5
- Particulars: Record the credit entry of \$[/tex]500 in the Unearned Revenue account.
- P.R.: Reference the journal page number and entry (e.g., J1, which stands for Journal page 1).
- Debit: \[tex]$0 (indicating no debit impact on the Unearned Revenue account for this entry).
- Credit: \$[/tex]500
T-account representation for Unearned Revenue:
| Date | Description | Reference | Debit | Credit | Balance |
|------|-------------|-----------|-------|--------|---------|
| Mar 5 | From Journal Entry | J1 | - | \[tex]$500 | \$[/tex]500 ✔ |
Summarizing each step:
1. Cash Account Posting:
- On March 5, the Cash account is debited for \[tex]$500, increasing the balance of the Cash account to \$[/tex]500.
2. Unearned Revenue Account Posting:
- On March 5, the Unearned Revenue account is credited for \[tex]$500, increasing the balance of Unearned Revenue to \$[/tex]500.
By following these steps, you can accurately post the journal entry into the ledger accounts, ensuring that both the debits and credits are balanced and allocated to the correct accounts.
