9.3A (Algo) Journalizing sales and cash receipts and posting to the general ledger. LO 9-1, 9-2, 9-3 Awesome Sounds is a wholesale business that sells musical instruments. Transactions involving sales and cash receipts for the firm during April 201 follow, along with the general ledger accounts used to record these transactions. GENERAL LEDGER ACCOUNTS 101 Cash 109 Notes receivable $17,100 Dr. 111 Accounts receivable 401 Sales 451 Sales returns and allowances 452 Sales discounts 21,700 Dr. DATE TRANSACTIONS April 1 Sold merchandise for $4,600 to Soprano Music Center; issued Invoice 9312 with terms of 2/10, n/30. 3 Received a check for $1,813 from Music Supply Store in payment of Invoice 6718 of March 25 ($1,850), less a cash discount ($37). 5 Sold merchandise for $1,750 in cash to a new customer who has not yet established credit. 8 Sold merchandise for $5,200 to Music Warehouse; issued Invoice 9313 with terms of 2/10, n/30. 10 Soprano Music Center sent a check for $4,508 in payment of Invoice 9312 of April 1 ($4,600), less a cash discount ($92). 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 105 for $870; the original sale was made on Invoice 9313 of April 8. 19 Sold merchandise for $11,200 to Eagleton Music Center; issued Invoice 9314 with terms of 2/10, n/30. 23 Collected $3,150 from Sounds From Yesterday for Invoice 6725 of March 25. 26 Accepted a two-month promissory note for $6,200 from Country Music Store in settlement of its overdue account; the note has an interest rate of 10 percent. 28 Received a check for $10,976 from Eagleton Music Center in payment of Invoice 9314, dated April 19 ($11,200), less a cash discount ($224). 30 Sold merchandise for $10,500 to Contemporary Sounds, Inc.; issued Invoice 9315 with terms of 2/10, n/30. Required: 1. Open the general ledger accounts and enter the balances as of April 1, 20X1. 2. Record the transactions in a sales journal, a cash receipts journal, and a general journal. 3. Post the entries from the general journal to the general ledger. 4. Post the column totals from the special journals to the proper general ledger accounts. 5. Prepare the heading and the Revenue section of the firm's income statement for the month ended April 30. Analyze: What total sales on account were made in the month of April prior to any returns or allowances? Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Post the opening balances and transactions into the appropriate ledger accounts. Cash Account No: 101 Date Debit Credit Balance Apr 01, 20X1 Accounts Receivable Date Apr 01, 2019 Notes Receivable Date Debit Account No: 109 Credit Balance Account No: 111 Sales Account No: 401 Debit Credit Balance Date Debit Credit Balance Sales Returns and Allowances Date Account No: 451 Sales Discounts Account No: 452 Debit Credit Balance Date Debit Credit Balance General Ledgers Sales Journal > Analyze: What total sales on account were made in the month of April prior to any returns or allowances? Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Record the transactions in a sales journal as of April 20X1. SALES JOURNAL Date Invoice No. Customer's Name Accounts receivable Dr./Sales Cr. Apr 30, 20X1 Total $ 0 < General Ledgers Cash Receipts > Analyze: What total sales on account were made in the month of April prior to any returns or allowances? Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Calsh Receipts General Journal Income Statement Analyze Record the transactions in a cash receipts journal as of April 20X1. CASH RECEIPTS JOURNAL Date Description Accounts Receivable Credit Other Accounts Credit Sales Credit Account Name Amount Sales Discount Debit Cash Debit Apr 30, 2019 Totals $ 0 $ 0 Sales Journal General Journal > $ 0 $ 0 General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Record the transactions in a general journal as of April 20X1. View transaction list Journal entry worksheet 1 2 Record the return of damaged merchandise, Credit Memo 105, sale originally made on Invoice 9313 from April 8. Note: Enter debits before credits. Date Apr 15, 20X1 General Journal Debit Credit Record entry Clear entry View general journal > General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Record the transactions in a general journal as of April 20X1. View transaction list Journal entry worksheet 1 2 Record the receipt of a 2-month, 10% note from Country Music Store to replace the open account. Note: Enter debits before credits. Date Apr 26, 20X1 General Journal Debit Credit Record entry Clear entry View general journal General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Prepare the heading and the Revenue section of the firm's income statement for the month er AWESOME SOUNDS Partial Income Statement Month Ended April 30, 20X1 Revenue Net sales < General Journal Analyze > General Ledgers Cash Sales Journal Receipts General Journal Income Statement Analyze What total sales on account were made in the month of April prior to any returns or allowances? Total sales on account prior to returns or allowances < Income Statement Analyze >