Journalizing Sales, Sales Returms and Allowances, and Cash Receipts Prepare journal entries for the following transactions. Oct. 5 Sold merchandise on account to B. Farnsby for $300 plus sales tax of 4%. 8 Sold merchandise on account to F. Preetee for $230 plus sales tax of 4%, with 2/10, /30 cash discount terms. 11 F. Preetee returned merchandise purchased on October 8 for $50 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 $60 plus sales tax for credit. 20 B. Farnsby paid the balance due on his account. If required, round your answers to two decimal places. an amount box does not require an entry, leave it blank. Page: 1 DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- Oct. 5 4. Oct. 8 000 000
Journalizing Sales, Sales Returms and Allowances, and Cash Receipts Prepare journal entries for the following transactions. Oct. 5 Sold merchandise on account to B. Farnsby for $300 plus sales tax of 4%. 8 Sold merchandise on account to F. Preetee for $230 plus sales tax of 4%, with 2/10, /30 cash discount terms. 11 F. Preetee returned merchandise purchased on October 8 for $50 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 $60 plus sales tax for credit. 20 B. Farnsby paid the balance due on his account. If required, round your answers to two decimal places. an amount box does not require an entry, leave it blank. Page: 1 DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- Oct. 5 4. Oct. 8 000 000
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 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...
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