Cash Receipts Transactions Zebra Imaginarium, a retail business, had the following cash receipts during December 20--. The sales tax is 6%. Dec. 1 Received payment on account from Michael Anderson, $1,360. 2 Received payment on account from Ansel Manufacturing, $382. 7 Cash sales for the week were $3,160 plus tax. Bank credit card sales for the week were $1,000 plus tax. Bank credit card fee is 3%. 8 Received payment on account from J. Gorbea, $880. 11 Michael Anderson returned merchandise for a credit, $60 plus tax. 14 Cash sales for the week were $2,800 plus tax. Bank credit card sales for the week were $800 plus tax. Bank credit card fee is 3%. 20 Received payment on account from Tom Wilson, $1,110. 21 Ansel Manufacturing returned merchandise for a credit, $22 plus tax. 21 Cash sales for the week were $3,200 plus tax. 24 Received payment on account from Rachel Carson, $2,000. Required: 1. Record the transactions in the general journal. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank. Do not enter the posting references until you complete part 2. GENERAL JOURNAL PAGE 20 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Dec. 1 Cash fill in the blank 2 fill in the blank 3 Accounts Receivable/M. Anderson fill in the blank 5/√ fill in the blank 6 Received cash on account Dec. 2 Cash fill in the blank 8 fill in the blank 9 Accounts Receivable/Ansel Manufacturing fill in the blank 11/√ fill in the blank 12 Received cash on account Dec. 7 Cash fill in the blank 14 fill in the blank 15 fill in the blank 16 Sales fill in the blank 18 fill in the blank 19 fill in the blank 20 Sales Tax Payable fill in the blank 22 fill in the blank 23 fill in the blank 24 Made cash sales Dec. 7 Cash fill in the blank 26 fill in the blank 27 fill in the blank 28 Bank Credit Card Expense fill in the blank 30 fill in the blank 31 fill in the blank 32 Sales fill in the blank 34 fill in the blank 35 fill in the blank 36 Sales Tax Payable fill in the blank 38 fill in the blank 39 fill in the blank 40 Made credit card sales Dec. 8 Cash fill in the blank 42 fill in the blank 43 Accounts Receivable/J. Gorbea fill in the blank 45/√ fill in the blank 46 Received cash on account Dec. 11 Sales Returns and Allowances fill in the blank 48 fill in the blank 49 fill in the blank 50 Sales Tax Payable fill in the blank 52 fill in the blank 53 fill in the blank 54 Accounts Receivable/M. Anderson fill in the blank 56/√ fill in the blank 57 fill in the blank 58 Returned merchandise Dec. 14 Cash fill in the blank 60 fill in the blank 61 fill in the blank 62 Sales fill in the blank 64 fill in the blank 65 fill in the blank 66 Sales Tax Payable fill in the blank 68 fill in the blank 69 fill in the blank 70 Made cash sales GENERAL JOURNAL PAGE 21 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Dec. 14 Cash fill in the blank 72 fill in the blank 73 fill in the blank 74 Bank Credit Card Expense fill in the blank 76 fill in the blank 77 fill in the blank 78 Sales fill in the blank 80 fill in the blank 81 fill in the blank 82 Sales Tax Payable fill in the blank 84 fill in the blank 85 fill in the blank 86 Made credit card sales Dec. 20 Cash fill in the blank 88 fill in the blank 89 Accounts Receivable/T. Wilson fill in the blank 91/√ fill in the blank 92 Received cash on account Dec. 21 Sales Returns and Allowances fill in the blank 94 fill in the blank 95 fill in the blank 96 Sales Tax Payable fill in the blank 98 fill in the blank 99 fill in the blank 100 Accounts Receivable/Ansel Manufacturing fill in the blank 102/√ fill in the blank 103 fill in the blank 104 Returned merchandise Dec. 21 Cash fill in the blank 106 fill in the blank 107 fill in the blank 108 Sales fill in the blank 110 fill in the blank 111 fill in the blank 112 Sales Tax Payable fill in the blank 114 fill in the blank 115 fill in the blank 116 Made cash sales Dec. 24 Cash fill in the blank 118 fill in the blank 119 Accounts Receivable/R. Carson fill in the blank 121/√ fill in the blank 122 Received cash on account 2. The beginning general ledger account balances have been entered in the accounts. Post from the journal to the general 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. Enter the transactions in chronological order and in the order posted in part 1. Cash $9,862 Accounts Receivable 9,352

Cash Receipts Transactions Zebra Imaginarium, a retail business, had the following cash receipts during December 20--. The sales tax is 6%. Dec. 1 Received payment on account from Michael Anderson, $1,360. 2 Received payment on account from Ansel Manufacturing, $382. 7 Cash sales for the week were $3,160 plus tax. Bank credit card sales for the week were $1,000 plus tax. Bank credit card fee is 3%. 8 Received payment on account from J. Gorbea, $880. 11 Michael Anderson returned merchandise for a credit, $60 plus tax. 14 Cash sales for the week were $2,800 plus tax. Bank credit card sales for the week were $800 plus tax. Bank credit card fee is 3%. 20 Received payment on account from Tom Wilson, $1,110. 21 Ansel Manufacturing returned merchandise for a credit, $22 plus tax. 21 Cash sales for the week were $3,200 plus tax. 24 Received payment on account from Rachel Carson, $2,000. Required: 1. Record the transactions in the general journal. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank. Do not enter the posting references until you complete part 2. GENERAL JOURNAL PAGE 20 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Dec. 1 Cash fill in the blank 2 fill in the blank 3 Accounts Receivable/M. Anderson fill in the blank 5/√ fill in the blank 6 Received cash on account Dec. 2 Cash fill in the blank 8 fill in the blank 9 Accounts Receivable/Ansel Manufacturing fill in the blank 11/√ fill in the blank 12 Received cash on account Dec. 7 Cash fill in the blank 14 fill in the blank 15 fill in the blank 16 Sales fill in the blank 18 fill in the blank 19 fill in the blank 20 Sales Tax Payable fill in the blank 22 fill in the blank 23 fill in the blank 24 Made cash sales Dec. 7 Cash fill in the blank 26 fill in the blank 27 fill in the blank 28 Bank Credit Card Expense fill in the blank 30 fill in the blank 31 fill in the blank 32 Sales fill in the blank 34 fill in the blank 35 fill in the blank 36 Sales Tax Payable fill in the blank 38 fill in the blank 39 fill in the blank 40 Made credit card sales Dec. 8 Cash fill in the blank 42 fill in the blank 43 Accounts Receivable/J. Gorbea fill in the blank 45/√ fill in the blank 46 Received cash on account Dec. 11 Sales Returns and Allowances fill in the blank 48 fill in the blank 49 fill in the blank 50 Sales Tax Payable fill in the blank 52 fill in the blank 53 fill in the blank 54 Accounts Receivable/M. Anderson fill in the blank 56/√ fill in the blank 57 fill in the blank 58 Returned merchandise Dec. 14 Cash fill in the blank 60 fill in the blank 61 fill in the blank 62 Sales fill in the blank 64 fill in the blank 65 fill in the blank 66 Sales Tax Payable fill in the blank 68 fill in the blank 69 fill in the blank 70 Made cash sales GENERAL JOURNAL PAGE 21 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Dec. 14 Cash fill in the blank 72 fill in the blank 73 fill in the blank 74 Bank Credit Card Expense fill in the blank 76 fill in the blank 77 fill in the blank 78 Sales fill in the blank 80 fill in the blank 81 fill in the blank 82 Sales Tax Payable fill in the blank 84 fill in the blank 85 fill in the blank 86 Made credit card sales Dec. 20 Cash fill in the blank 88 fill in the blank 89 Accounts Receivable/T. Wilson fill in the blank 91/√ fill in the blank 92 Received cash on account Dec. 21 Sales Returns and Allowances fill in the blank 94 fill in the blank 95 fill in the blank 96 Sales Tax Payable fill in the blank 98 fill in the blank 99 fill in the blank 100 Accounts Receivable/Ansel Manufacturing fill in the blank 102/√ fill in the blank 103 fill in the blank 104 Returned merchandise Dec. 21 Cash fill in the blank 106 fill in the blank 107 fill in the blank 108 Sales fill in the blank 110 fill in the blank 111 fill in the blank 112 Sales Tax Payable fill in the blank 114 fill in the blank 115 fill in the blank 116 Made cash sales Dec. 24 Cash fill in the blank 118 fill in the blank 119 Accounts Receivable/R. Carson fill in the blank 121/√ fill in the blank 122 Received cash on account 2. The beginning general ledger account balances have been entered in the accounts. Post from the journal to the general 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. Enter the transactions in chronological order and in the order posted in part 1. Cash $9,862 Accounts Receivable 9,352

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 3MC

See similar textbooks

Related questions

Concept explainers

Question

i don't nee help with part 1 i need help with part 2

Cash Receipts Transactions

Zebra Imaginarium, a retail business, had the following cash receipts during December 20--. The sales tax is 6%.

Dec. 1	Received payment on account from Michael Anderson, $1,360.
2	Received payment on account from Ansel Manufacturing, $382.
7	Cash sales for the week were $3,160 plus tax. Bank credit card sales for the week were $1,000 plus tax. Bank credit card fee is 3%.
8	Received payment on account from J. Gorbea, $880.
11	Michael Anderson returned merchandise for a credit, $60 plus tax.
14	Cash sales for the week were $2,800 plus tax. Bank credit card sales for the week were $800 plus tax. Bank credit card fee is 3%.
20	Received payment on account from Tom Wilson, $1,110.
21	Ansel Manufacturing returned merchandise for a credit, $22 plus tax.
21	Cash sales for the week were $3,200 plus tax.
24	Received payment on account from Rachel Carson, $2,000.

Required:

1. Record the transactions in the general journal. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank. Do not enter the posting references until you complete part 2.

GENERAL JOURNAL	PAGE 20
DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
20--
Dec. 1	Cash	fill in the blank 2	fill in the blank 3
	Accounts Receivable/M. Anderson	fill in the blank 5/√		fill in the blank 6
	Received cash on account
Dec. 2	Cash	fill in the blank 8	fill in the blank 9
	Accounts Receivable/Ansel Manufacturing	fill in the blank 11/√		fill in the blank 12
	Received cash on account
Dec. 7	Cash	fill in the blank 14	fill in the blank 15	fill in the blank 16
	Sales	fill in the blank 18	fill in the blank 19	fill in the blank 20
	Sales Tax Payable	fill in the blank 22	fill in the blank 23	fill in the blank 24
	Made cash sales
Dec. 7	Cash	fill in the blank 26	fill in the blank 27	fill in the blank 28
	Bank Credit Card Expense	fill in the blank 30	fill in the blank 31	fill in the blank 32
	Sales	fill in the blank 34	fill in the blank 35	fill in the blank 36
	Sales Tax Payable	fill in the blank 38	fill in the blank 39	fill in the blank 40
	Made credit card sales
Dec. 8	Cash	fill in the blank 42	fill in the blank 43
	Accounts Receivable/J. Gorbea	fill in the blank 45/√		fill in the blank 46
	Received cash on account
Dec. 11	Sales Returns and Allowances	fill in the blank 48	fill in the blank 49	fill in the blank 50
	Sales Tax Payable	fill in the blank 52	fill in the blank 53	fill in the blank 54
	Accounts Receivable/M. Anderson	fill in the blank 56/√	fill in the blank 57	fill in the blank 58
	Returned merchandise
Dec. 14	Cash	fill in the blank 60	fill in the blank 61	fill in the blank 62
	Sales	fill in the blank 64	fill in the blank 65	fill in the blank 66
	Sales Tax Payable	fill in the blank 68	fill in the blank 69	fill in the blank 70
	Made cash sales

GENERAL JOURNAL	PAGE 21
DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
20--
Dec. 14	Cash	fill in the blank 72	fill in the blank 73	fill in the blank 74
	Bank Credit Card Expense	fill in the blank 76	fill in the blank 77	fill in the blank 78
	Sales	fill in the blank 80	fill in the blank 81	fill in the blank 82
	Sales Tax Payable	fill in the blank 84	fill in the blank 85	fill in the blank 86
	Made credit card sales
Dec. 20	Cash	fill in the blank 88	fill in the blank 89
	Accounts Receivable/T. Wilson	fill in the blank 91/√		fill in the blank 92
	Received cash on account
Dec. 21	Sales Returns and Allowances	fill in the blank 94	fill in the blank 95	fill in the blank 96
	Sales Tax Payable	fill in the blank 98	fill in the blank 99	fill in the blank 100
	Accounts Receivable/Ansel Manufacturing	fill in the blank 102/√	fill in the blank 103	fill in the blank 104
	Returned merchandise
Dec. 21	Cash	fill in the blank 106	fill in the blank 107	fill in the blank 108
	Sales	fill in the blank 110	fill in the blank 111	fill in the blank 112
	Sales Tax Payable	fill in the blank 114	fill in the blank 115	fill in the blank 116
	Made cash sales
Dec. 24	Cash	fill in the blank 118	fill in the blank 119
	Accounts Receivable/R. Carson	fill in the blank 121/√		fill in the blank 122
	Received cash on account

2. The beginning general ledger account balances have been entered in the accounts. Post from the journal to the general 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. Enter the transactions in chronological order and in the order posted in part 1.

Cash	$9,862
Accounts Receivable	9,352

ACCOUNT
Sales Tax Payable
ACCOUNT NO.
231
BALANCE
DATE
ITEM
POST. REF.
DEBIT
CREDIT
DEBIT
CREDIT
20--
Dec. 2 X
J20
Dec. 7 V
J20
Dec. 8 X
J20
Dec. 14 V
J20
Dec. 14 V
J21
Dec. 21 V
J21
Dec. 24 X
J21
ACCOUNT
Sales
ACCOUNT NO.
401
BALANCE
DATE
ITEM POST. REF.
DEBIT
CREDIT
DEBIT
CREDIT
20--
J20
J20
J20
J21
J21

ACCOUNT
Sales Returns and Allowances
ACCOUNT NO.
401.1
BALANCE
DATE
ITEM POST. REF.
DEBIT
CREDIT
DEBIT
CREDIT
20--
J20
J21
ACCOUNT
Bank Credit Card Expense
ACCOUNT NO.
513
BALANCE
DATE
ITEM POST. REF.
DEBIT
CREDIT
DEBIT
CREDIT
20--
J20
J21

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.