SALES JOURAAS Gimess, Ihe following sales, returns, and cash receipts March 20-.

Question

SALES JOURAAS Gimess, Ihe following sales, returns, and cash receipts March 20-. There is an 8% sales tax. Beginning general ledger 9,741; and Accounts Receivable, $1,058.25. Beginning Owens Distributors is account balances were Cash, $ customer account balances were Thompson Group, $1,058.25 Mar. 1 Sold merchandise to Able & Co., $1,800, plus sales tax. Sale No. 33C 3 Sold merchandise to R. J. Kalas, Inc, $2,240, plus sales tax. Sale No. 33D. 5 Able& Co. returned merchandise from Sale No. 33C for a credit (Credit Memo No. 66), $30, plus sales tax. 7 Made cash sales for the week, $3,160, plus sales tax. 10 Received payment from Able & Co. for Sale No. 33C less Credit Memo No. 66 11 Sold merchandise to Blevins Bakery, $1,210, plus sales tax. Sale No. 33E 13 Received payment from R. J. Kalas for Sale No. 33D. 14 Made cash sales for the week, $4,200, plus sales tax. 16 Blevins Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $44, plus sales tax. 18 Sold merchandise to R. J. Kalas, Inc., $2,620, plus sales tax. Sale No. 33F 20 Received payment from Blevins Bakery for Sale No. 33E less Credit Memo 9 No. 67. 21 Made cash sales for the week, $2,400, plus sales tax.

Explanation / Answer

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SALES JOURNAL Date Account Invoice Accounts Sales Cr Sales tax Cr Cost of goods Debited Number Receivable Dr Sold Dr Inventory Cr Mar.1 Able & Co. 33C 1944.00 1800.00 144.00 Mar.3 R.J.Kalas 33D 2419.20 2240.00 179.20 Mar.11 Blevin Bakery 33E 1306.80 1210.00 96.80 Mar.18 R.J.Kalas 33F 2829.60 2620.00 209.60 Mar.25 Blevin Bakery 33G 2068.20 1915.00 153.20 Mar.27 Thompson Group 33H 2177.28 2016.00 161.28 Cash Rceipts Journal Date Account Cash Dr Cash Accounts Sales Cr Other Cost of goods Credited Discount Dr Receivable Cr Account Cr sold Dr Inventory Cr Mar.7 Sales 3412.80 3160.00 252.80 Mar.10 Able & Co. 1911.60 1911.60 Mar.13 R.J.Kalas 2419.20 2419.20 Mar.14 Sales 4536.00 4200.00 336.00 Mar.20 Blevin Bkery 1259.28 1259.28 Mar.21 Sales 2592.00 2400.00 192.00 Mar.28 Sales 3780.00 3500.00 280.00

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