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- x Requirements 1. Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column) and a cash receipts journal (omit the Sales Discounts Forfeited column). 2. Total each column of the sales joumal and the cash receipts journal. Show that total debits equal total credits. 3. Show how postings would be made by entering the account numbers and check marks in the appropriate places in the journals. (Assume all postings are made to the applicable ledgers.) Print Done - X Data Table Number Account Number Account Cash 18 Equipment 11 Accounts Receivable Land 12 19 13 Notes Receivable 41 Sales Revenue Merchandise Inventory 15 51 Cost of Goods Sold 16 Office Supplies Print Done - X More Info Jul 2 Sold merchandise inventory on credit, terms n/30, to Ishmate, Inc., $2,000 (cost, $700) Sold office supplies to an employee at cost, $65, receiving cash. Cash sales for the week totaled $1,890 (cost, $1,600) 3 7 9 Sold merchandise inventory on account, terms n/30, to A. B. Moore, $7,100 (cost, $5,000) Sold land that cost $12,000 for cash of the same amount. 10 Sold merchandise inventory on account, terms n/30, to Sparky Electric, $5,800 (cost, $3,400) 11 12 Received cash from Ishmate in full settlement of its account receivable from July 2 Cash sales for the week were $2,680 (cost, $1,530) 14 15 Sold merchandise inventory on credit, terms n/30, to the partnership of West and Bob, $3,300 (cost, $2,200) Sold merchandise inventory on account, terms n/30, to Sparky Electric, $750 (cost, $340) Cash sales for the week were $960 (cost, $630) 20 21 22 Received $4,800 cash from A. B. Moore in partial settlement of his account receivable. 25 Received cash from West and Bob for its account receivable from July 15. Sold merchandise inventory on account, terms n/30, to Olsen Co., $1,510 (cost, $1,040). Collected $4,900 on a note receivable. There was no interest earned. 25 27 Cash sales for the week totaled $3,740 (cost, $2,430). Sold merchandise inventory on account, terms n/30, to R. A. Banks, $270 (cost, $150). Received $2,000 cash on account from A. B. Moore. 28 29 31 Print Done Requirement 1, 2, and 3. Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column) and a cash receipts journal (omit the Sales Discounts Forfeited column). Total each column of the sales journal and the cash receipts journal. Show that total debits equal total credits. Show how postings would be made by entering the account numbers and check marks in the appropriate places in the journals. Begin with the sales journal. Enter the transactions and total the journal. (Assume all postings are made to the applicable ledgers. If a box is not used in the journal leave the box empty; do not select information and do not enter a zero. Select "T." in place of a check mark to reflect posting to a subsidiary ledger.) Sales Journal Page Accounts Receivable DR Invoice Customer Post. Cost of Goods Sold DR Ref. Merchandise Inventory CR Date No. Account Debited Sales Revenue CR Sales Journal Page 1 Accounts Receivable DR Invoice Customer Post. Cost of Goods Sold DR Date No. Account Debited Ref. Sales Revenue CR Merchandise Inventory CR Jul. Totals Jul. 31 - x Requirements 1. Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column) and a cash receipts journal (omit the Sales Discounts Forfeited column). 2. Total each column of the sales joumal and the cash receipts journal. Show that total debits equal total credits. 3. Show how postings would be made by entering the account numbers and check marks in the appropriate places in the journals. (Assume all postings are made to the applicable ledgers.) Print Done - X Data Table Number Account Number Account Cash 18 Equipment 11 Accounts Receivable Land 12 19 13 Notes Receivable 41 Sales Revenue Merchandise Inventory 15 51 Cost of Goods Sold 16 Office Supplies Print Done - X More Info Jul 2 Sold merchandise inventory on credit, terms n/30, to Ishmate, Inc., $2,000 (cost, $700) Sold office supplies to an employee at cost, $65, receiving cash. Cash sales for the week totaled $1,890 (cost, $1,600) 3 7 9 Sold merchandise inventory on account, terms n/30, to A. B. Moore, $7,100 (cost, $5,000) Sold land that cost $12,000 for cash of the same amount. 10 Sold merchandise inventory on account, terms n/30, to Sparky Electric, $5,800 (cost, $3,400) 11 12 Received cash from Ishmate in full settlement of its account receivable from July 2 Cash sales for the week were $2,680 (cost, $1,530) 14 15 Sold merchandise inventory on credit, terms n/30, to the partnership of West and Bob, $3,300 (cost, $2,200) Sold merchandise inventory on account, terms n/30, to Sparky Electric, $750 (cost, $340) Cash sales for the week were $960 (cost, $630) 20 21 22 Received $4,800 cash from A. B. Moore in partial settlement of his account receivable. 25 Received cash from West and Bob for its account receivable from July 15. Sold merchandise inventory on account, terms n/30, to Olsen Co., $1,510 (cost, $1,040). Collected $4,900 on a note receivable. There was no interest earned. 25 27 Cash sales for the week totaled $3,740 (cost, $2,430). Sold merchandise inventory on account, terms n/30, to R. A. Banks, $270 (cost, $150). Received $2,000 cash on account from A. B. Moore. 28 29 31 Print Done Requirement 1, 2, and 3. Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column) and a cash receipts journal (omit the Sales Discounts Forfeited column). Total each column of the sales journal and the cash receipts journal. Show that total debits equal total credits. Show how postings would be made by entering the account numbers and check marks in the appropriate places in the journals. Begin with the sales journal. Enter the transactions and total the journal. (Assume all postings are made to the applicable ledgers. If a box is not used in the journal leave the box empty; do not select information and do not enter a zero. Select "T." in place of a check mark to reflect posting to a subsidiary ledger.) Sales Journal Page Accounts Receivable DR Invoice Customer Post. Cost of Goods Sold DR Ref. Merchandise Inventory CR Date No. Account Debited Sales Revenue CR Sales Journal Page 1 Accounts Receivable DR Invoice Customer Post. Cost of Goods Sold DR Date No. Account Debited Ref. Sales Revenue CR Merchandise Inventory CR Jul. Totals Jul. 31
