ASSETS Transactions COA Transactions: May 2 Recorded cash and credit card sales, $2,200.00, plus sales tax, $124.00; total, $2,324.00. TS9. 4 Received cash on account from Malone Corporation, covering S406 for $2,670.00. R506. 5 Sold merchandise on account to Sherman City Schools, $1,480.00. Sherman City Schools is exempt from sales tax. S424. 11 Received cash on account from Blair Industries, $1,540.00, covering S422, less a 2% discount. R507. 12 Sold merchandise on account to Blair Industries, $2,690.00, plus sales tax. S425. 13 Recorded cash and credit card sales, $2,350.00, plus sales tax, $132.00; total, $2,482.00. TS10. 20 Received cash on account from Blair Industries, $2,851.40, covering S425, less a 2% discount. R508. Robbins Corporation offers terms of 2/10, n/30. The sales tax rate is 6%. Source documents are abbreviated as follows: receipt, R; sales invoice, S; terminal summary, TS. Journalize the transactions. No S is needed in the Sale No. column when journalizing in the sales journal. 1 2 DATE ACCOUNT DEBITED SALES JOURNAL PAGE 3 ACCOUNTS SALE NO. POST. REF RECEIVABLE SALES CREDIT DEBIT SALES TAX PAYABLE CREDIT 1 2 PAGE 3 1 2 3 4 5 CASH RECEIPTS JOURNAL PAGE 3 POST. GENERAL DATE ACCOUNT TITLE DOC. NO. REF. DEBIT CREDIT ACCOUNTS RECEIVABLE CREDIT SALES TAX SALES CREDIT PAYABLE CREDIT SALES DISCOUNT DEBIT CASH DEBIT 1 2 3 4 5