College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Textbook Question
Chapter 9, Problem 3E
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).
- b. 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 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.
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). $ 14,136.00
How do you make a general journal entry for these sales transactions?
Chapter 9 Solutions
College Accounting (Book Only): A Career Approach
Ch. 9 - Which of the following is true about the Sales...Ch. 9 - What is the accounts receivable ledger? a. A...Ch. 9 - Using the information contained in the accounts...Ch. 9 - Prob. 4QYCh. 9 - What does the 2 in 2/10, n/30 mean? a. Pay in 2...Ch. 9 - Prob. 6QYCh. 9 - The schedule of accounts payable lists each...Ch. 9 - If the seller assumes the entire cost of...Ch. 9 - Under the perpetual inventory system, how does the...Ch. 9 - Purchases on account of merchandise for resale...
Ch. 9 - What is the difference between a wholesale...Ch. 9 - For each of the following accounts, identify...Ch. 9 - Prob. 3DQCh. 9 - Why is an accounts receivable ledger or an...Ch. 9 - Why is it a good practice to post daily to the...Ch. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 9DQCh. 9 - Prob. 10DQCh. 9 - Prob. 11DQCh. 9 - Prob. 12DQCh. 9 - Record the following transactions in general...Ch. 9 - Post the following entry to the general ledger and...Ch. 9 - Record the following transactions in general...Ch. 9 - Journalize the following transactions in general...Ch. 9 - Post the following entry to the general ledger and...Ch. 9 - Record the following transactions in general...Ch. 9 - Record the following transactions for a perpetual...Ch. 9 - Toby Company had the following sales transactions...Ch. 9 - Williams Corporation had the following purchases...Ch. 9 - Kelley Company has completed the following October...Ch. 9 - Bell Florists sells flowers on a retail basis....Ch. 9 - Berrys Pet Store records purchase transactions in...Ch. 9 - Shirleys Beauty Store records sales and purchase...Ch. 9 - The following transactions relate to Hawkins,...Ch. 9 - Gomez Company sells electrical supplies on a...Ch. 9 - Patterson Appliance uses a three-column purchases...Ch. 9 - Prob. 1PBCh. 9 - Lowerys Pet Depot records purchase transactions in...Ch. 9 - Mays Beauty Store records sales and purchase...Ch. 9 - The following transactions relate to Khan, Inc., a...Ch. 9 - Prob. 5PBCh. 9 - West Bicycle Shop uses a three-column purchases...Ch. 9 - Prob. 1ACh. 9 - You are the bookkeeper at a small merchandising...Ch. 9 - Following is a trial balance prepared just before...Ch. 9 - Sales and Purchases Ms. Valli of All About You Spa...
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