Textbook Problem

CASH RECEIPTS JOURNAL Color Florists, a retail business, had the following cash receipts during January 20--. The sales tax is 5%.

Jan. 1    Received payment on account from Ray Boyd, $880.

3    Received payment on account from Clint Hassell, $271.

5    Made cash sales for the week, $2,800, plus tax. Bank credit card sales for the week, $1,200, plus tax. Bank credit card fee is 3%.

8    Received payment on account from Jan Sowada, $912.

11    Ray Boyd returned merchandise for a credit, $40, plus tax.

12    Made cash sales for the week, $3,100, plus tax. Bank credit card sales for the week, $1,900, plus tax. Bank credit card fee is 3%.

15    Received payment on account from Robert Zehnle, $1,100.

18    Robert Zehnle returned merchandise for a credit, $31, plus tax.

19    Made cash sales for the week, $2,230, plus tax.

25    Received payment on account from Dazai Manufacturing, $318.

Beginning general ledger account balances were as follows:

Beginning customer account balances were as follows:

Required

1. 1. Record the transactions in the cash receipts journal. Total and verify the column totals and rule the columns. Use the general journal to record sales returns and allowances.
2. 2. Post from the journals to the general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter.