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. 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. Post from the journals to the general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter.

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College Accounting, Chapters 1-27 ...

22nd Edition
James A. Heintz + 1 other
Publisher: Cengage Learning
ISBN: 9781305666160
BuyFind

College Accounting, Chapters 1-27 ...

22nd Edition
James A. Heintz + 1 other
Publisher: Cengage Learning
ISBN: 9781305666160

Solutions

Chapter
Section
Chapter 12, Problem 7SPB
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:

Chapter 12, Problem 7SPB, CASH RECEIPTS JOURNAL Color Florists, a retail business, had the following cash receipts during , example  1

Beginning customer account balances were as follows:

Chapter 12, Problem 7SPB, CASH RECEIPTS JOURNAL Color Florists, a retail business, had the following cash receipts during , example  2

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.

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Chapter 12 Solutions

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Ch. 12 - LO2 Enter the following transaction in a sales...Ch. 12 - LO3 Enter the following transactions in a cash...Ch. 12 - LO4 Enter the following transaction in a purchases...Ch. 12 - Enter the following transactions in a cash...Ch. 12 - What is the primary purpose of using special...Ch. 12 - List four items of information about each sale...Ch. 12 - What steps are followed in posting from the sales...Ch. 12 - What steps are followed in posting from the sales...Ch. 12 - List three items of information about each cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - List four items of information about each purchase...Ch. 12 - What steps are followed in posting from the...Ch. 12 - What steps are followed in posting from the...Ch. 12 - List four items of information about each cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - RECORDING TRANSACTIONS IN THE PROPER JOURNAL...Ch. 12 - JOURNALIZING SALES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH RECEIPTS Enter the following...Ch. 12 - JOURNALIZING PURCHASES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH PAYMENTS Lakeview Industries...Ch. 12 - SALES JOURNAL Futi Ishanyan owns a retail business...Ch. 12 - CASH RECEIPTS JOURNAL Zebra Imaginarium, a retail...Ch. 12 - SALES JOURNAL, CASH RECEIPTS JOURNAL, AND GENERAL...Ch. 12 - PURCHASES JOURNAL J. B. Speck, owner of Specks...Ch. 12 - PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS...Ch. 12 - CASH PAYMENTS JOURNAL Sam Santiago operates a...Ch. 12 - PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND...Ch. 12 - RECORDING TRANSACTIONS IN THE PROPER JOURNAL...Ch. 12 - JOURNALIZING SALES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH RECEIPTS Enter the following...Ch. 12 - JOURNALIZING PURCHASES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH PAYMENTS Sandcastles Northwest...Ch. 12 - SALES JOURNAL T. M. Maxwell owns a retail business...Ch. 12 - CASH RECEIPTS JOURNAL Color Florists, a retail...Ch. 12 - SALES JOURNAL, CASH RECEIPTS JOURNAL, AND GENERAL...Ch. 12 - PURCHASES JOURNAL Ann Benton, owner of Bentons...Ch. 12 - PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS...Ch. 12 - CASH PAYMENTS JOURNAL Kay Zembrowski operates a...Ch. 12 - PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND...Ch. 12 - You have a part-time job as a bookkeeper at a...Ch. 12 - Judy Baresford, the store manager of Comfort...Ch. 12 - During the month of October 20--, The Pink Petal...Ch. 12 - Screpcap Co. had the following transactions during...

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