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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

LO2 Enter the following transaction in a sales journal like the one illustrated in the chapter:

June 1 Made Sale No. 214 on account to Erin Lucas, $840, plus $42 sales tax.

To determine

Record the given transaction in a sales journal.

Explanation

Sales Journal

Sales journal is one form of special journal book, which records all the sales transactions that are sold to customers on credit. In a single column sales journal, debit aspect of accounts receivable and credit aspect of inventory are recorded, and then posted to individual subsidiary customer account...

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