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Assume Barton Springs Glass Company uses the perpetual inventory system. The general ledger of Barton Springs Glass Company includes the following selected accounts, along with
Assume Barton Springs Glass Company uses the perpetual inventory system. The general ledger of Barton Springs Glass Company includes the following selected accounts, along with their account numbers (Click on the icon to view the accounts) All credit sales are on Barton Springs' standard terms of 2/10 n/30. Sales and cash receipts transactions in July were as follows: ?(Click on the icon to view the transactions.) Read the requirements Requirement 1, 2, and 3. Use the appropriate joumal to record the preceding transactions in a sales journal (omit the Invoice No. column), a cash receipts journal, and a general journal Barton Springs Glass Company records sales returns and allowances in the general journal. 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 Sales Journal Pa Invoice Post. Accounts Receivable DR Ni Customer Cost of Goods Sold DR Account Debited Sales Revenue CR Merchandise Inventory CR Jul
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