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Analyze the following transactions and indicate on a separate sheet which accounts you plan on debiting and crediting. Then make journal entries on accounting paper
Analyze the following transactions and indicate on a separate sheet which accounts you plan on debiting and crediting. Then make journal entries on accounting paper (electronic or paper) then post them to the ledgers, then make a trial balance and schedule of Accounts Receivable (both on accounting paper). Here are electronic journal and ledgers you may use if you like: Genral Ledger and A/Rec Ledger General Journal During the month of July, the following transactions were made. The applicable sales tax rate is 6% The beginning balance of Cask is $12,350, Accounts Receivable is $1,970, and ABC Capital is $14,320. In the Accounts Receivable Ledger a beginning balance for P. Mott is $1,970 Jul 2 Sold merchandise on account to S. Jones, 51,400 plus sales taxt 7 Sold merehandise on account to M. Burton, $1,900 plus uales tax 12 Issued credit memorandum to S. Jones for $6$9, including sales tax of $39. 22 Received payment in full from S. Jones 28 Seld merchandise on account to P. Mott. 5850 plus sales tax
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