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Using the following transactions what is the total debits and credits?

Using the following transactions what is the total debits and credits?

FINANCIAL ACCOUNTING
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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Using the following transactions what is the total debits and credits?
Feb 2 - Received cash on account from customer Andy Griffith, $390.50, no discount. Issued receipt #19 covering sales invoice #14. Feb 3 - Received cash on account from customer Roy Williams, $209.23. In payment for sales invoice #15; invoice amount is $213.50 ($200.00 plus sales tax $13.50) less discount and sales tax. Issued receipt #20. 50)le 26 Feb 5 - Business recorded cash sales of $2,098.16 plus sales tax of $141.63 for total of $2,239.79. Cash register tape WS. Feb 6- Received cash on account from customer Ron Howard, $693.40. In payment for sales invoice #16; invoice amount of $707.55 ($662.81 plus sales tax $44.74) less discount and sales tax. Issued receipt #21. 27 Feb 7- Business recorded cash sales of $1,749.08 plus sales tax of $118.06 for total of $1,867.14. Cash register tape 7. Feb 8- Received cash on account from customer Tim Duncan during discount period as payment in full on sales invoice #17. Invoice amount is $733.70 ($687.31 sale plus sales tax of $46.39). Issued receipt #22. (HINT: customer did NOT pay full invoice amount). Feb 9- Business recorded cash sales of $2,844.17. Cash register tape #9. (HINT: you need two more numbers to complete the journal entry). 36
Transcribed Image Text:Feb 2 - Received cash on account from customer Andy Griffith, $390.50, no discount. Issued receipt #19 covering sales invoice #14. Feb 3 - Received cash on account from customer Roy Williams, $209.23. In payment for sales invoice #15; invoice amount is $213.50 ($200.00 plus sales tax $13.50) less discount and sales tax. Issued receipt #20. 50)le 26 Feb 5 - Business recorded cash sales of $2,098.16 plus sales tax of $141.63 for total of $2,239.79. Cash register tape WS. Feb 6- Received cash on account from customer Ron Howard, $693.40. In payment for sales invoice #16; invoice amount of $707.55 ($662.81 plus sales tax $44.74) less discount and sales tax. Issued receipt #21. 27 Feb 7- Business recorded cash sales of $1,749.08 plus sales tax of $118.06 for total of $1,867.14. Cash register tape 7. Feb 8- Received cash on account from customer Tim Duncan during discount period as payment in full on sales invoice #17. Invoice amount is $733.70 ($687.31 sale plus sales tax of $46.39). Issued receipt #22. (HINT: customer did NOT pay full invoice amount). Feb 9- Business recorded cash sales of $2,844.17. Cash register tape #9. (HINT: you need two more numbers to complete the journal entry). 36
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