The general ledger of Suds Soap Company includes the following selected accounts, along with their account numbers:
Question:
The general ledger of Suds Soap Company includes the following selected accounts, along with their account numbers:
All credit sales are on Suds' standard terms of \(2 / 10 \mathrm{n} / 30\). Sales and cash receipts transactions in November were as follows:
Requirements
1. Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column), a cash receipts journal, and a general journal. Record sales returns and allowances in the general journal.
2. Total each column of the sales journal and the cash receipts journal. Determine that total debits equal total credits.
3. Show how postings would be made from the journals by writing the account numbers and check marks in the appropriate places in the journals.
Step by Step Answer: