Journalizing Sales Transactions Enter the following transactions in a general journal. Use a 6% sales tax rate. May 1 Sold merchandise on account to P. Delgado, $5,000 plus sales tax. Sale No. 488. 4 Sold merchandise on account to L. Wong, $4,800 plus sales tax. Sale No. 489. 8 Sold merchandise on account to D. Epstein, $4,500 plus sales tax. Sale No. 490. 11 Sold merchandise on account to K. Lovechild, $4,950 plus sales tax. Sale No. 491. Page: DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20-- May 1 fill in the blank 2 fill in the blank 3 1 2 fill in the blank 5 fill in the blank 6 2 3 fill in the blank 8 fill in the blank 9 3 4 4 5 May 4 fill in the blank 11 fill in the blank 12 5 6 fill in the blank 14 fill in the blank 15 6 7 fill in the blank 17 fill in the blank 18 7 8 8 9 May 8 fill in the blank 20 fill in the blank 21 9 10 fill in the blank 23 fill in the blank 24 10 11 fill in the blank 26 fill in the blank 27 11 12 12 13 May 11 fill in the blank 29 fill in the blank 30 13 14 fill in the blank 32 fill in the blank 33 14 15 fill in the blank 35 fill in the blank 36 15

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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Journalizing Sales Transactions

Enter the following transactions in a general journal. Use a 6% sales tax rate.

May 1	Sold merchandise on account to P. Delgado, $5,000 plus sales tax. Sale No. 488.
4	Sold merchandise on account to L. Wong, $4,800 plus sales tax. Sale No. 489.
8	Sold merchandise on account to D. Epstein, $4,500 plus sales tax. Sale No. 490.
11	Sold merchandise on account to K. Lovechild, $4,950 plus sales tax. Sale No. 491.

Page:

	DATE	DEBIT	CREDIT
1	20-- May 1	fill in the blank 2	fill in the blank 3	1
2		fill in the blank 5	fill in the blank 6	2
3		fill in the blank 8	fill in the blank 9	3
4				4
5	May 4	fill in the blank 11	fill in the blank 12	5
6		fill in the blank 14	fill in the blank 15	6
7		fill in the blank 17	fill in the blank 18	7
8				8
9	May 8	fill in the blank 20	fill in the blank 21	9
10		fill in the blank 23	fill in the blank 24	10
11		fill in the blank 26	fill in the blank 27	11
12				12
13	May 11	fill in the blank 29	fill in the blank 30	13
14		fill in the blank 32	fill in the blank 33	14
15		fill in the blank 35	fill in the blank 36	15

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