6 Part 2 Ques 3 7 Danielson Company uses a sales joumal, a cash receipts joumal, and a general Journal to record transactions with its customers, Record the following transactions in the appropriate Journals. The cost of all merchandise sold was 60% of the sales price. 90 32 34 os 36 July 2 July 5 July 8 July 10 July 15 July 18 July 20 July 25 Sold merchandise for 518,000 to B. Pine on account. Credit terms 2/10, 1/30. Sales involce No. 100. Received a check for $1,100 from R. Giger in payment of his account. Sold merchandise to F. Wenger for $900 cash. Received a check in payment of Sales Involce No. 100 from B. Pine minus the 2% discount. Sold merchandise for $9,000 to J. Long on account. Credit terms 2/10, n/30. Sales invoice No. 101. Borrowed $20,000 cash from United Bank signing a 6-month, 10% note payable. Sold merchandise for $12,000 to C. Judd on account. Credit terms 2/10, n/30. Sales involce No. 102. Issued a credit reduction) of $700 to C. Judd as an allowance for damaged merchandise previously sold on account Received a check from J. Long for $6,500 as partial payment on accouit. 58 39 July 31 DANIELSON COMPANY Sales Joumal S1 Date Account Debited Invoice No. Ref. Acct. Rec. Dr. Sales Rev. Cr. 14 15 26 17 18 19 20 Cost of Goods Sold Dr. Inventory Cr. DANIELSON COMPANY General Journal G1 Date Explanation 23 24 25 26 27 28 29 30 31 Ref. Debit Credit Exam 2 Part 2 + Ready 6 Part 2 Ques 3 7 Danielson Company uses a sales joumal, a cash receipts joumal, and a general Journal to record transactions with its customers, Record the following transactions in the appropriate Journals. The cost of all merchandise sold was 60% of the sales price. 90 32 34 os 36 July 2 July 5 July 8 July 10 July 15 July 18 July 20 July 25 Sold merchandise for 518,000 to B. Pine on account. Credit terms 2/10, 1/30. Sales involce No. 100. Received a check for $1,100 from R. Giger in payment of his account. Sold merchandise to F. Wenger for $900 cash. Received a check in payment of Sales Involce No. 100 from B. Pine minus the 2% discount. Sold merchandise for $9,000 to J. Long on account. Credit terms 2/10, n/30. Sales invoice No. 101. Borrowed $20,000 cash from United Bank signing a 6-month, 10% note payable. Sold merchandise for $12,000 to C. Judd on account. Credit terms 2/10, n/30. Sales involce No. 102. Issued a credit reduction) of $700 to C. Judd as an allowance for damaged merchandise previously sold on account Received a check from J. Long for $6,500 as partial payment on accouit. 58 39 July 31 DANIELSON COMPANY Sales Joumal S1 Date Account Debited Invoice No. Ref. Acct. Rec. Dr. Sales Rev. Cr. 14 15 26 17 18 19 20 Cost of Goods Sold Dr. Inventory Cr. DANIELSON COMPANY General Journal G1 Date Explanation 23 24 25 26 27 28 29 30 31 Ref. Debit Credit Exam 2 Part 2 + Ready