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. Oct. 1 Jim White made a $600 payment on account. 8 Cash sales for the week, $3,000, plus sales tax. 10 Kristin Ludwin made a $600 payment on account. 15 Melissa Perez made a $3,570 payment on account. 17 Cash sales for the week, $2,600, plus sales tax. 25 Sue Lee paid $860 on account. 30 Matt Chang paid $934 on account. CASH RECEIPTS JOURNAL Page 1 Accounts Sales Tax Account General Receivable Payable Date Credited Post. Ref. Credit Credic Sales Credit Credit Cash Debit Oct. 1 Jim White 8 Cash sales 10 Kristin Ludwin 15 Melissa Perez 17 Cash sales 25 Sue Lee 30 Matt Chang

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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.
Oct. 1
Jim White made a $600 payment on account.
8
Cash sales for the week, $3,000, plus sales tax.
10
Kristin Ludwin made a $600 payment on account.
15
Melissa Perez made a $3,570 payment on account.
17
Cash sales for the week, $2,600, plus sales tax.
25
Sue Lee paid $860 on account.
30
Matt Chang paid $934 on account.
CASH RECEIPTS JOURNAL
Page 1
Accounts
Sales Tax
Account
General Receivable
Payable
Date
Credited
Post. Ref. Credit
Credic
Sales Credit
Credit
Cash Debit
Oct. 1 Jim White
8 Cash sales
10 Kristin Ludwin
15 Melissa Perez
17 Cash sales
25 Sue Lee
30 Matt Chang
Transcribed Image Text: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. Oct. 1 Jim White made a $600 payment on account. 8 Cash sales for the week, $3,000, plus sales tax. 10 Kristin Ludwin made a $600 payment on account. 15 Melissa Perez made a $3,570 payment on account. 17 Cash sales for the week, $2,600, plus sales tax. 25 Sue Lee paid $860 on account. 30 Matt Chang paid $934 on account. CASH RECEIPTS JOURNAL Page 1 Accounts Sales Tax Account General Receivable Payable Date Credited Post. Ref. Credit Credic Sales Credit Credit Cash Debit Oct. 1 Jim White 8 Cash sales 10 Kristin Ludwin 15 Melissa Perez 17 Cash sales 25 Sue Lee 30 Matt Chang
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