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29 Kevin Nolon (122) (401) (231 CASH RECEIPTS JOURNAL Accounts Sales T General Receivable Sales Payab Account Credit Credit Credi Credited Post. Ref. Credit Date May 22 James Koffsky 31 Joyce McKay

29 Kevin Nolon (122) (401) (231 CASH RECEIPTS JOURNAL Accounts Sales T General Receivable Sales Payab Account Credit Credit Credi Credited Post. Ref. Credit Date May 22 James Koffsky 31 Joyce McKay

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 1PA: Bell Florists sells flowers on a retail basis. Most of the sales are for cash; however, a few steady...
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29 Kevin Nolon (122) (401) (231) CASH RECEIPTS JOURNAL Page 8 Accounts Sales Tax Account General Receivable Sales Раyable Date Credited Post. Ref. Credit Credit Credit Credit Cash Debit May 22 James Koffsky 31 Зоусе Mскау 31 Cash sales (122) (401) (231) (101) 2 (i). Joumaltze the above transactions. If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. Page: 3 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 May 12 401.1 2. 231 2. 122/V 4 May 26 401.1 4 231 122/V 2 (ii). Post the entries from the journals to the subsidiary fedgers provided. If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. Enter transactions in chronological order. If your answer is zero, enter "o". GENERAL LEDGER ACCOUNT NO. 101 ACCOUNT Cash Previous Next>
Transcribed Image Text:29 Kevin Nolon (122) (401) (231) CASH RECEIPTS JOURNAL Page 8 Accounts Sales Tax Account General Receivable Sales Раyable Date Credited Post. Ref. Credit Credit Credit Credit Cash Debit May 22 James Koffsky 31 Зоусе Mскау 31 Cash sales (122) (401) (231) (101) 2 (i). Joumaltze the above transactions. If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. Page: 3 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 May 12 401.1 2. 231 2. 122/V 4 May 26 401.1 4 231 122/V 2 (ii). Post the entries from the journals to the subsidiary fedgers provided. If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. Enter transactions in chronological order. If your answer is zero, enter "o". GENERAL LEDGER ACCOUNT NO. 101 ACCOUNT Cash Previous Next>
Harry O'Brien operates Leather Warehouse, a leather shop that sells luggage, handbags, business cases, and other leather goods. During the month of May, the following transactions took place. The applicable sales tax rate is 6%. May 2 Sold merchandise on account to James Koffsky, $250.00, plus sales tax, 9 Sold merchandise on account to Kevin Nolon, $470.00, plus sales tax. 12 James Koffsky returned $40.00 worth of merchandise purchased on May 2 for credit. 18 Sold merchandise on account to Joyce McKay, $110.00, plus sales tax. 19 Sold merchandise on account to Tim Carney, $165.00, plus sales tax. 22 Recelved payment from James Koffsky on account. 26 Joyce McKay was given an allowance of $30.00 when she reported damage In the merchandise purchased May 18. 28 Sold merchandise on account to James Koffsky, $500.00, plus sales tax. 29 Sold merchandise on account to Kevin Nolon, $230.00, plus sales tax. 31 Recelved payment from Joyce McKay on account. 31 Cash sales for the month were $2,600, plus sales tax. 1. Enter the above transactions in the appropriate journal. If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. SALES JOURNAL Page 6 Accounts Sales Tax Payable Credit Receivable Date Sale No. To Whom Sold Post. Ref. Debit Sales Credit May 2 James Koffsky. 6. Kevin Nolon 18 Joyce McKay 19 Tim Carney 28 James Koffsky 29 Kevin Nolon (122) (401) (231)
Transcribed Image Text:Harry O'Brien operates Leather Warehouse, a leather shop that sells luggage, handbags, business cases, and other leather goods. During the month of May, the following transactions took place. The applicable sales tax rate is 6%. May 2 Sold merchandise on account to James Koffsky, $250.00, plus sales tax, 9 Sold merchandise on account to Kevin Nolon, $470.00, plus sales tax. 12 James Koffsky returned $40.00 worth of merchandise purchased on May 2 for credit. 18 Sold merchandise on account to Joyce McKay, $110.00, plus sales tax. 19 Sold merchandise on account to Tim Carney, $165.00, plus sales tax. 22 Recelved payment from James Koffsky on account. 26 Joyce McKay was given an allowance of $30.00 when she reported damage In the merchandise purchased May 18. 28 Sold merchandise on account to James Koffsky, $500.00, plus sales tax. 29 Sold merchandise on account to Kevin Nolon, $230.00, plus sales tax. 31 Recelved payment from Joyce McKay on account. 31 Cash sales for the month were $2,600, plus sales tax. 1. Enter the above transactions in the appropriate journal. If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. SALES JOURNAL Page 6 Accounts Sales Tax Payable Credit Receivable Date Sale No. To Whom Sold Post. Ref. Debit Sales Credit May 2 James Koffsky. 6. Kevin Nolon 18 Joyce McKay 19 Tim Carney 28 James Koffsky 29 Kevin Nolon (122) (401) (231)
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