Reference no: EM132438299
Question - The Vintage Nursery is a wholesale shop that sells flowers, plants, and plant supplies. The transactions shown below took place during February.
DATE TRANSACTIONS
Feb. 3 Sold a floral arrangement to Thompson Funerals; issued Invoice 2201 for $400.
Feb. 8 Sold potted plants to Meadows Nursery; issued Invoice 2202 for $800.
Feb. 9 Sold floral arrangements to DeSoto Flower Shop; issued Invoice 2203 for $1,050.
Feb. 10 Sold corsages to Lovelace Nursery; issued Invoice 2204 for $700.
Feb. 15 Gave DeSoto Flower Shop an allowance because of withered blossoms discovered in one of the floral arrangements sold on Invoice 2203 on February 9; issued Credit Memorandum 105 for $100.
Feb. 20 Sold table arrangements to Lovelace Nursery; issued Invoice 2205 for $650.
Feb. 22 Sold plants to Southwest Nursery; issued Invoice 2206 for $850.
Feb. 25 Sold roses to Denton Flower Shop; issued Invoice 2207 for $450.
Feb. 27 Sold several floral arrangements to Thompson Funerals; issued Invoice 2208 for $750.
Feb. 28 Gave Thompson Funerals an allowance because of withered blossoms discovered in one of the floral arrangements sold on Invoice 2208 on February 27; issued Credit Memorandum 106 for $75.
INSTRUCTIONS -
1. Transactions in the proper journal. Use 5 as the page number for the sales journal and 10 as the page number for the general journal.
2. Immediately after recording each transaction, post to the accounts receivable ledger.
3. Post the amounts from the general journal daily. Post the sales journal amount as a total at the end of the month.
4. Schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule.
Analyze: Damaged goods decreased sales by what dollar amount? By what percentage amount?
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