Enter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule the journal. If an amount box does not require an entry, leave it blank. Feb. 2 John Door made an $890 payment on account. 7 Cash sales for the week, $2,140, plus sales tax. 11 Tom Chovin made a $600 payment on account. 14 Grace Borsetti made a $1,540 payment on account. 18 Cash sales for the week, $2,300, plus sales tax. 24 Peter Chan paid $540 on account. 28 Jean Amore paid $350 on account.

Enter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule the journal. If an amount box does not require an entry, leave it blank. Feb. 2 John Door made an $890 payment on account. 7 Cash sales for the week, $2,140, plus sales tax. 11 Tom Chovin made a $600 payment on account. 14 Grace Borsetti made a $1,540 payment on account. 18 Cash sales for the week, $2,300, plus sales tax. 24 Peter Chan paid $540 on account. 28 Jean Amore paid $350 on account.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please read the questions carefully the First question is asking for journal entry.
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