Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affects a customer's accou
Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affects a customer's accou
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 7QY: The schedule of accounts payable lists each creditors account balance, and the total equals the...
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At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be $13,998.
Date | Account Debited |
Invoice Number | PR | Sales Cr. |
Cost of Goods Sold Dr. Inventory Cr. |
||||
May 6 | Aaron Reckers | 190 | 4,160 | 3,162 | |||||
10 | Sara Reed | 191 | 3,220 | 2,657 | |||||
17 | Anna Page | 192 | 1,433 | 843 | |||||
25 | Sara Reed | 193 | 573 | 337 | |||||
31 | Totals | 9,386 | 6,999 | ||||||
Mountain View also recorded the return of defective merchandise with the following entry.
Date | General Journal | Debit | Credit |
May 20 | Sales Returns and Allowances | 425 | |
Accounts Receivable—Anna Page | 425 | ||
Customer returned (worthless) merchandise. |
1. Post to the customer accounts the entries in the sales journal and any portion of the general
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