Record the transactions in the general journal

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Reference no: EM132220870

Question - Sales and Cash Receipts Transactions

Sourk Distributors is a retail business. The following sales, returns, and cash receipts occurred during March 20--. There is an 8% sales tax.

Mar. 1	Sale on account No. 33C to Donachie & Co., $1,500 plus sales tax.
3	Sale on account No. 33D to R. J. Kibubu, Inc., $2,060 plus sales tax.
5	Donachie & Co. returned merchandise from Sale No. 33C for a credit (Credit Memo No. 66), $40 plus sales tax.
7	Cash sales for the week were $3,250 plus sales tax.
10	Received payment from Donachie & Co. for Sale No. 33C less Credit Memo No. 66.
11	Sale on account No. 33E to Eck Bakery, $1,280 plus sales tax.
13	Received payment from R. J. Kibubu for Sale No. 33D.
14	Cash sales for the week were $3,900 plus sales tax.
16	Eck Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $31 plus sales tax.
18	Sale on account No. 33F to R. J. Kibubu, Inc., $2,570 plus sales tax.
20	Received payment from Eck Bakery for Sale No. 33E less Credit Memo No. 67.
21	Cash sales for the week were $2,420 plus sales tax.
25	Sale on account No. 33G to Eck Bakery, $1,960 plus sales tax.
27	Sale on account No. 33H to Whitaker Group, $2,200 plus sales tax.
28	Cash sales for the week were $3,370 plus sales tax.

Record the transactions in the general journal. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank.

Beginning general ledger account and customer account balances have been entered below. Post from the journal to the general ledger and accounts receivable ledger accounts. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. After posting to the general ledger, go to part 1 and complete the posting.

Reference no: EM132220870

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