The sales and cash receipts journals of Keester.com include the following entries: Date Sales Journal Accounts Receivable

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The sales and cash receipts journals of Keester.com include the following entries: Date Sales Journal Accounts Receivable Dr. Sales Revenue Cr. Cost of Goods Sold Dr. Inventory Cr. Account Post. Debited Ref. May 7 L. Ewald 930 10 T. Ross 4,100 10 E. Lovell 690 12 B. Goebel 5.470 31 Total 11.190 550 1,970 410 3.340 6.270 Debits Cash Receipts Journal Credits Other Accounts 9669 Date Cash May 16 Sales Accounts Sales Discounts Receivable Revenue Cost of Goods Sold Dr. Account Post. Title Ref. Amount Inventory Cr. L. Ewald 19 E. Lovell 24 300 30 300 190 T. Ross Classifying postings from the Keester.com makes all credit sales on terms of 2/10 n/30. Complete the cash receipts journal for those transactions indicated. Also, total the journal and show that total debits equal total credits. Each cash receipt was for the appropriate amount of the receivable.

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Accounting

ISBN: 9780130906991

5th Edition

Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones

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