Sandra began collecting transaction details to see if the same Items were in each sales transact Transaction Coffee Tea Scone Muffin Cookie No Yes No Yes No No Yes No No Yes 2.
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- Using the Profit and Loss report created above, drill down to a Transactions Report for the Sales account. Print and export this report to Excel. Save and share this report as a Sales Transaction Report.Complete this question by entering your answers In the tabs below. Required 1 Required 2 Prepare the appropriate journal entry for each of these transactions. Do not record cost of goods sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollar.) www Vlew transaction Ilist Journal entry worksheet 2. 3. 4 9. Sold two items of merchandise to Customer B, who charged the $570 sales price on her Visa credit card. Visa charges Hailey a 2 percent credit card fee. Note: Enter debits before credits. Date General Journal Debit Credit November 20 Vlew general Journal Clear entry Record entry 5,7. Mocha Coffee Shop has asked the accountant to keep track of the purchases for beverage, food, and retail items. The accountant has implemented a purchases journal. Which of the following columns should be included in the new purchases journal? a.Beverage Supplies Dr., Food Supplies Dr., Retail Items Dr., Other Accounts Dr., Cash Cr. b.Accounts Payable Dr., Other Accounts Dr., Beverage Supplies Cr., Food Supplies Cr., Retail Items Cr. c.Beverage Supplies Dr., Food Supplies Dr., Retail Items Dr., Other Accounts Cr., Accounts Payable Dr. d.Accounts Payable Cr., Beverage Supplies Dr., Food Supplies Dr., Retail Items Dr., Other Accounts Dr.
- The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). C. Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $129,000, f. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per machine-hour. A total of 76,300 machine-hours were used in October. 9 Jobs costing $510,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These Jobs were sold on account at 26% above cost Required: 1. Prepare journal entries to record the transactions given…If one of NetSolution's customers returns some merchandise that had been purchased on account (accounts receivable), NetSolutions will inform the customer that the return has been authorized as indicated by a _______ memo. Group of answer choices credit memo debit memo sales return memo sales memoUse the following sales journal to record the transactions. All credit sales are terms of n/30. (If a box is not used in the journal leave the box empty; do not select information or enter a zero.) A (Click the icon to view the transactions.) Sales Journal Page Invoice Customer Post. Accounts Receivable DR Cost of Goods Sold DR Date No. Account Debited Ref. Sales Revenue CR Merchandise Inventory CR 2024 Jun. More Info Jun. 1 Sold merchandise inventory on account to Fred Jig, $1,270. Cost of goods, $1,000. Invoice no. 101. Jun. 8 Sold merchandise inventory on account to lan Frog, $2,225. Cost of goods, $1,580. Invoice no. 102. Jun. 13 Sold merchandise inventory on account to Jillian Trump, $380. Cost of goods, $300. Invoice no. 103. Jun. 28 Sold merchandise inventory on account to Glen Whitney, $900. Cost of goods, $610. Invoice no. 104. Print Done
- Those are the lists for the questions. Note -Please do not give image format and dont use chatgptVillar Co. uses special journals and a general journal.Identify the journal in which each of the following transactions is recorded. Transactions Journals a. Purchased equipment on account. Sales JournalCash Payments JournalGeneral Journal / Sales JournalPurchases JournalGeneral Journal / Purchases JournalCash Receipts Journal b. Purchased merchandise on account. General Journal / Sales JournalCash Payments JournalSales JournalGeneral Journal / Purchases JournalPurchases JournalCash Receipts Journal c. Paid utility expense in cash. Purchases JournalCash Receipts JournalGeneral Journal / Sales JournalSales JournalCash Payments JournalGeneral Journal / Purchases Journal d. Sold merchandise on account. General Journal /…Review the sales journal below. (Click the icon to view the sales journal.) Read the requirements. Requirement 1. Total each column of the sales journal. Date 2024 Jun. Jun. 1 8 101 Fletcher Jay 102 Iliana Flower 13 103 Jesse Thomas 28 104 George Westerberg 30 Totals 1. 2. Invoice No. Requirements 3. 4. Customer Account Debited Sales Journa Post. Accounts Receivable DR Ref. Sales Revenue CR Total each column of the sales journal. The following four-column accounts in the accounts receivable subsidiary ledger have been opened for you: Accounts Receivable-Flower; Accounts Receivable Jay; Accounts Receivable-Thomas; Accounts Receivable-Westerberg. Post the transactions to the accounts receivable subsidiary ledger. 1,260 2,225 360 900 Print The following selected four-column accounts in the general ledger have been opened for you: Accounts Receivable (112); Merchandise Inventory (118), Bal. $4,800; Sales Revenue (411); Cost of Goods Sold (511). Post the total of each column to the general…
- Put the following into the correct order for processing a sale on account with QuickBooks®. A. Prepare reports.B. Record the sale by completing an electronic invoice form.C. Record collection of payment by completing a "receive payment" form. a.A-B-C b.C-B-A c.B-A-C d.B-C-AHi, I submitted this question earlier but received feedback that the attachment of the question I sent wasn't very clear so I'm trying again. I took the screen grab again as well have copied and pasted the question directly as well. It's asking to journalize the transactions. Hope this is better than the last time. Thanks!The following were selected from among the transactions completed by Babcock Company during November of the current year:Nov. 3 Purchased merchandise on account from Moonlight Co., list price $88,000, trade discount 20%, terms FOB destination, 2/10, n/30.4 Sold merchandise for cash, $41,250. The cost of the merchandise sold was $22,250.5 Purchased merchandise on account from Papoose Creek Co., $43,700, terms FOB shipping point, 2/10, n/30, with prepaid freight of $840 added to the invoice.6 Returned $13,600 ($17,000 list price less trade discount of 20%) of merchandise purchased on November 3 from Moonlight Co.8 Sold merchandise on account to Quinn Co., $16,100 with…Directions: Read the given sentences carefully. Select the best answer from the choices given below. Write your answer on the space provided before each item. Gains Purchases Sales Income Gross Profit Sales Discount Selling expenses Professional Fee Net Income Operating expenses Sales return Cost of Goods Sold Service Income 1. An example of service revenue. 2. The revenue generated from the sale of products. 3. It is computed by deducting the cost of sales from net sales. 4. It is used to describe revenue derived from the rendering of services. 5. A type of income derived from the other activities of the business. 6. The account used to report the acquisitions of merchandise for sale. 7. It represents the actual cost of inventories that the company was able to sell. 8. These are expenses that are directly related to the main purpose of a merchandising business 9. A contra-sales account that is used to report the amount of discount given to or taken by the customers. 10. It refers…