Record the following transactions in general journal form. a. Sold merchandise on account to A. Bauer, $680 plus $54.40 sales tax (invoice no. D446). Bauer returned $105.50 of the merchandise. Issued credit memo no. 114 for $113.94 ($105.50 for the amount of the sale plus $8.44 for the amount of the sales tax.
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Record the following transactions in general journal form.
a. Sold merchandise on account to A. Bauer, $680 plus $54.40 sales tax (invoice no. D446).
Bauer returned $105.50 of the merchandise. Issued credit memo no. 114 for $113.94 ($105.50 for the amount of the sale plus $8.44 for the amount of the sales tax.
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- Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is sold on account for 300 plus 3% sales tax, with 2/10, n/30 cash discount terms. (b) Part of the merchandise sold in transaction (a) for 70 plus sales tax is returned for credit. (c) The balance on account for the merchandise sold in transaction (a) is paid in cash within the discount period.Prepare journal entries for the following transactions. Oct. 5 Sold merchandise on account to B. Farnsby for $290 plus sales tax of 4%. 8 Sold merchandise on account to F. Preetee for $180 plus sales tax of 4%, with 2/10, n/30 cash discount terms. 11 F. Preetee returned merchandise purchased on October 8 for $40 plus sales tax for credit. 17 F. Preetee paid the balance due on her account. 18 B. Farnsby returned merchandise purchased on October 5 for $80 plus sales tax for credit. 20 B. Farnsby paid the balance due on his account. Required: Prepare journal entries.Journalize the entries to record the following selected transactions. Refer to the Chart of Accounts for exact wording of account titles. A. Sold $64,400 of merchandise on account, subject to a sales tax of 4%. The cost of the goods sold was $38,240. B. Paid $38,220 to the state sales tax department for taxes collected.
- Which of the following is an element of the journal entry to account for a purchase of merchandise on account? a). a debit to accounts payable. b). a credit to freight in c). a credit to sales d). a debit to purchases. Kay Sadia sold merchandise for $15,200 subject to a 7% sales tax. The entry in the sales journal will include a credit to Sales tax payable for a). $1,064.00 b). $ 15,200.00 c). $ 16,264.00 d). $ 14,136.00Prepare journal entries for the following transactions. Aug. 4 Sold merchandise on account to S. Miller for $280 plus sales tax of 4%, with 2/10, n/30 cash discount terms. 6 Sold merchandise on account to K. Krtek for $200 plus sales tax of 4%. 10 S. Miller returned merchandise purchased on August 4 for $30 plus sales tax for credit. 13 S. Miller paid the balance due on her account. 15 K. Krtek returned merchandise purchased on August 6 for $40 plus sales tax for credit. 20 K. Krtek paid the balance due on his account. 1 2 3 4 5 LO 6 7 8 9 DATE ACCOUNT TITLE 20-- Aug. 4 Aug. 6 Page: 1 Aug. 10 DOC. POST. NO. REF. DEBIT CREDIT 1 2 3 456789 Previous NextI need to enter the following transactions in the appropriate journal. (sales journal and cash receipts journal) January 8 Sold merchandise on account to C. Cline, $1,000, plus sales tax of $50. Sale No. 1474. 14 Cash sales for the week were $2,780, plus sales tax of $139. 19 Sold merchandise on account to A. Lee, $1,460, plus sales tax of $73. Sale No. 1475.
- JOURNALIZING SALES, SALES RETURNS AND ALLOWANCES, AND CASH RECEIPTS. Prepare journal entries for the following transactions. Aug. 4 Sold merchandise on account to S. Miller for $320 plus sales tax of 4%, with 2/10, n/30 cash discount terms. 6 6 Sold merchandise on account to K. Krtek for $210 plus sales tax of 4%. 10 S. Miller returned merchandise purchased on August 4 for $20 plus sales taxfor credit. Aug. 13 S. Miller paid the balance due on her account 15 K. Krtek returned merchandise purchased on August 6 for $40 plus sales taxfor credit. 20 K. Krtek paid the balance due on his accountUse the following transactions to answer the questions. Use a 6% sales tax rate. Total and rule the sales journal. Jan. 3 Sold merchandise on account to J. J. Johnson, $1,500, plus sales tax. Sold merchandise on account to C. Lopez, $2,100, plus sales tax. 14 Issued credit memorandum to J. J. Johnson for $530, including sales tax of $30. 19 Sold merchandise on account to H. Hertz, $700, plus sales tax. 29 Sold merchandise on account to G. Cardolo, $1,100, plus sales tax. Prepare the sales journal using the above transactions, as appropriate. SALES JOURNAL Page 1 Accounts Sales Tax Receivable Sales Payable Date Sale No. To Whom Sold Post. Ref. Debit Credit Credit Jan. 3 J. J. Johnson C. Lopez 19 H. Hertz 29 G. Cardolo Prepare the general journal using the above transactions, as appropriate. If an amount box does not require, "leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 Jan. 14 1. 3 3 Check My Work more Check My Work uses remaining. All worJournalize the entries to record the following selected transactions: i. Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the merchandise sold 0. was $510. ii. Paid $436 to the state sales tax department for taxes collected. Date Description Post. Debit Credit Ref. -C 121 Review Bununo
- Record the following selected transactions: a. Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the goods sold was $510. b. Paid $436 to the state sales tax department for taxes collected. Required: Journalize the entries. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Inventory 131 Estimated Returns Inventory 140 Supplies 142 Prepaid Insurance 180 Land 190 Equipment 191 Accumulated Depreciation LIABILITIES 210 Accounts Payable 216 Salaries Payable 221 Sales Tax Payable 222 Customers Refunds Payable 231 Unearned Rent 241 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends REVENUE 410 Sales EXPENSES 510 Cost of Goods Sold 521 Delivery Expense 522…Journalizing Sales Transactions Enter the following transactions in a general journal. Use a 6% sales tax rate. May Sold merchandise on account to J. Adams, $4,000 plus ' sales tax. Sale No. 488. Sold merchandise on account to B. Clark, $3,800 plus sales tax. Sale No. 489. Sold merchandise on account to A. Duck, $3,500 plus 8. sales tax. Sale No. 490. Sold merchandise on account to E. Hill, $3,950 plus sales 11 tax. Sale No. 491. Page: ACCOUNT TITLE DOC. POST. NO. REF. DATE DEBIT CREDIT 20-- May 1 2 2 3 4 4 5 May 4 6. 7 8. 8 9 May 8 9 10 10 11 11 12 12 13 May 11 13 14 14 15 15Pierce Company sold merchandise to Stanton Company on account FOB shipping point, 2/10, net 30, for $11,600. Pierce prepaid the $221 shipping charge. Which of the following entries does Pierce make to record this sale? a.Accounts Receivable—Stanton, debit $11,600; Sales, credit $11,600 b.Accounts Receivable—Stanton, debit $11,821; Sales, credit $11,821 c.Accounts Receivable—Stanton, debit $11,600; Sales, credit $11,600, and Delivery Expense, debit $221; Cash, credit $221 d.Accounts Receivable—Stanton, debit $11,368; Sales, credit $11,368, and Accounts Receivable—Stanton, debit $221; Cash, credit $221