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 $390 plus sales tax of 4%, with 2/10, n/30 cash discount terms. 6 Sold merchandise on account to K. Krtek for $150 plus sales tax of 4%. 10 S. Miller returned merchandise purchased on August 4 for $40 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 $50 plus sales tax for credit. 20 K. Krtek paid the balance due on his account. Page: 1 DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20-- Aug. 4 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 Aug. 6 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 Aug. 10 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 Aug. 13 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 16 16 17 Aug. 15 fill in the blank 38 fill in the blank 39 17 18 fill in the blank 41 fill in the blank 42 18 19 fill in the blank 44 fill in the blank 45 19 20 20 21 Aug. 20 fill in the blank 47 fill in the blank 48 21 22 fill in the blank 50 fill in the blank 51 22 23 23

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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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 $390 plus sales tax of 4%, with 2/10, n/30 cash discount terms.
6		Sold merchandise on account to K. Krtek for $150 plus sales tax of 4%.
10		S. Miller returned merchandise purchased on August 4 for $40 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 $50 plus sales tax for credit.
20		K. Krtek paid the balance due on his account.

Page: 1

	DATE	DEBIT	CREDIT
1	20-- Aug. 4	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	Aug. 6	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	Aug. 10	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	Aug. 13	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
16				16
17	Aug. 15	fill in the blank 38	fill in the blank 39	17
18		fill in the blank 41	fill in the blank 42	18
19		fill in the blank 44	fill in the blank 45	19
20				20
21	Aug. 20	fill in the blank 47	fill in the blank 48	21
22		fill in the blank 50	fill in the blank 51	22
23				23

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