Case Study: Rayan Store's Second Month
After a successful first month, Rayan Store enters its second month with even more activity. Record each transaction as a journal entry (debit/credit), then build the full trial balance.
This month’s transactions
| # | Transaction | Amount |
|---|---|---|
| 1 | Bought equipment (cash registers) for cash | EGP 15,000 |
| 2 | Purchased inventory on credit from a supplier | EGP 40,000 |
| 3 | Sold goods for cash | EGP 35,000 |
| 4 | Paid part of the amount owed to the supplier, in cash | EGP 20,000 |
| 5 | Sold goods on credit to a customer | EGP 45,000 |
| 6 | Collected cash from a prior customer | EGP 15,000 |
| 7 | Paid the electricity bill in cash | EGP 3,000 |
| 8 | Paid employee salaries in cash | EGP 12,000 |
Available accounts
Cash · Accounts Receivable · Inventory · Equipment · Accounts Payable · Sales Revenue · Utilities Expense · Salaries Expense
What’s required
- Download the blank Excel template from the course overview page, and write the debit account and credit account for each transaction.
- Watch the trial balance section in the same file — it updates automatically via a
SUMIFformula based on what you typed. - Confirm that total debits equal total credits in the end (if it doesn’t balance, you likely mistyped an account name).
- Compare your work to the downloadable “solved model” file.
- Test your understanding on the quiz page.
Tip: revisit the interactive journal entry lab in lesson three if you need a refresher on which side increases with a debit and which with a credit.