Provide the SALES JOURNAL only. DateTransactionsOc.1 Issued Check 602 for P4,200 to pay City Properties the monthly rent.1 Signed a three-month radio advertising contract with Cable Station KOTU for P4,800;issued Check 603 to pay the full amount in advance.2 Received P520 from Megan Greening, a credit customer, in payment of her account.Issued Official Receipt 302.2 Issued Check 604 to A Fashion Statement, a creditor, in full payment of Invoice 9387from previous month.3 Sold merchandise on credit for P2,480 plus VAT of P297.60 to Dmitri Sayegh, Sales Invoice 241.4 Issued Check 605 for P937.50 to BMX Supply Co. for supplies. (Amount is VAT Exclusive.)4 Issued Check 606 for P8,594.60 for Today's Woman, a creditor, in payment of Invoice 5671(P8,770) less a cash discount (P175.40)5 Collected P1,700.00 on account from Emily Tran, a credit customer. Issued Official Receipt 303.5 Issued Check 607 for P1,666 to Classy Threads, a creditor, in payment of Invoice 3292 (P1,700)less a cash discount (P34).6 Had a cash sales pf P18,600 plus VAT of P2,232 during October 1-6. Issued Official Receipt 304-6.8 Received a check from James Jelmer, a credit customer, for P832 to pay the balance he owes.Issued Official Receipt 307.9 Sold merchandise on credit for P2,050 plus VAT of P246 to Emma Maldonado, Sales Invoice 242.10 Issued Check 608 for P1,445 to pay The City Daily for a newspapaper advertisement that appearedin October.11 Purchased merchandise for P4,820 from A Fashion Statement, Invoice 9422, dated October 8; theterms are 2/10, n/30. Amount does not include the 12% VAT.12 Issued Check 609 for P375 to pay freight charges to Ace Freight Company, the trucking company,for purchased merchandise for P4,820 from A Fashion Statement, Invoice 9422, dated Octo ber 8;13 Had cash sales of P12,300 plus P1,476 VAT during October 8-13. Issued Official Receipts 308-10.15 Sold merchandise on credit for P1,940 plus VAT of P232.80 to James Helmer, Sales Invoice 243.16 Purchased discountinued merchandise from Acme Jobbers; pait for it immediately with Check 614 forP6,420. Amount does not include VAT. Invoice 32216 Received P510 on account from Dmitri Sayegh, a credit customer. Issued Official Receipt 311.18 Issued Check 610 for P7,200 to Therese Lorjay as a withdrawal for personal use.20 Had cash sales of P13,500 plus VAT P1,620 during October 15-20. Issued Official Receipts 312-16.22 Issued Check 611 to City Utilities for P1,112 to pay monthly electric bill.23 Issued Check 612 to BIR for P4,220 for its VAT Output from the month of September.24 Sold merchandise on credit to Burmei Py for P820 plus VAT of P98.40, Sales Invoice 244.25 Purchased merchandise on credit for P3,380 (Exclusive of VAT) from Classy Threads,Invoice 3418; terms 2/10, n/30.26 Issued Check 613 to regional Telephone for P780 to pay monthly telephone bill.27 Had cash sales of P14,240 plus VAT of P1,708.80 during October 22-27. Issued Official Receipts317-20.29 Sold merchandise on credit for P3,120 plus VAT of P374.40 to Emily Tran, Sales Invoice 245. SALES JOURNALPage 13SalesDebitCreditDateInvoiceCustomerPost Ref.AccountsOutput VATSalesNo.Receivable

Sales Journal records sales transactions on credit. It also called as sales day book. Cash sales are…

sued Check 602 for P4,200 to pay City Properties the monthly rent. gned a three-month radio advertising contract with Cable Station KO ued Check 603 to pay the full amount in advance. ceived P520 from Megan Greening, a credit customer, in payment e sued Official Receipt 302. sued Check 604 to A Fashion Statement, a creditor, in full payment c m previous month.

sued Check 602 for P4,200 to pay City Properties the monthly rent. gned a three-month radio advertising contract with Cable Station KO ued Check 603 to pay the full amount in advance. ceived P520 from Megan Greening, a credit customer, in payment e sued Official Receipt 302. sued Check 604 to A Fashion Statement, a creditor, in full payment c m previous month.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Explain the importance of proper credit approval for sales only typed solution
Which of the following two items are displayed in the QBO Navigation Bar?
List the general ledger accounts that are associated with Vendors.
How to journalize entries from accounting for sales with frieght transaction
The functions of and documents generated by which of the below departments determine when a wholesaler that ships goods to customers has the right to record a sale? Question options: The receiving department The credit department The customer order department The shipping department
what document initiates the sale
Hi when it says "Contra against purchase ledger", it means it can be registered on both Sales and Purchase ledger accounts? or only Sales? What about if says "Sales in balance set off against purchase ledger "? Thanks
How do you analyze the QUICKBOOK Software to analyze the customer and vendor’sPayments and Receipts? Justify the figures using QuickBooks.
Identify Postings from Purchases Journal Using the following purchases journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required: PURCHASES JOURNAL Page 49 Date Account Credited Post.Ref. AccountsPayableCr. StoreSuppliesDr. OfficeSuppliesDr. OtherAccountsDr. Post.Ref. Amount 20Y9 Jan. 4 Coastal Equipment Co. (a) 5,325 Warehouse Equipment (g) 5,325 Jan. 6 Arrow Supply Co. (b) 4,000 4,000 Jan. 9 Valley Products (c) 1,875 1,600 275 Jan. 14 Office Warehouse (d) 2,200 Office Equipment (h) 2,200 Jan. 20 Office Warehouse (e) 6,000 Store Equipment (i) 6,000 Jan. 25 Metro Supply Co. (f) 2,740 2,740 Jan. 30 22,140 4,340 4,275 13,525 (j) (k) (l) (m) Post reference represents: a. b. c.…
Briefly describe each of the following documents or records: purchase requisition, purchase order, receiving report, vendor invoice, and voucher. Why would an entity combine all documents related to a purchase transaction into a “voucher packet”?
A company indicates the condition of goods obtained onwhich of the following documents?a. Purchase requisitionb. Purchase orderc. Receiving reportd. Supplier invoice
What is a walkthrough of a sales transaction? How can the walkthrough work complement the use of an internal control questionnaire?