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. CASH RECEIPTS JOURNAL Page 1 Accounts Sales Tax Account General Receivable Sales Payable Cash Date Credited Post. Ref. Credit Credit Credit Credit Debit Feb. 2 John Door 7 Cash sales 11 Tom Chovin 14 Grace Borsetti 18 Cash sales 24 Peter Chan 28 Jean Amore
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. CASH RECEIPTS JOURNAL Page 1 Accounts Sales Tax Account General Receivable Sales Payable Cash Date Credited Post. Ref. Credit Credit Credit Credit Debit Feb. 2 John Door 7 Cash sales 11 Tom Chovin 14 Grace Borsetti 18 Cash sales 24 Peter Chan 28 Jean Amore
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...
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