Aug 4 Sold merchandise on account to S Miller for $320 plus sales tax of 4 , with 2 10, n 30 cash discount terms 6 Sold merchandise on account to K Krtek for $210 plus sales tax of 4 10 S Miller returned merchandise purchased on August 4 for $20 plus sales tax for credit 13 S Miller paid the balance due on her account 15 K Krtek returned merchandise purchased on August 6 for $40 plus sales tax for credit 20 K Krtek paid the balance due on his account 1 Prepare journal entries for the following transactions If required, round your answers to two decimal places If an amount box does not require an entry, leave it blank DATEACCOUNT TITLEDOC NO POST REF DEBITCREDIT1 20 Aug 4 Accounts Receivable S Miller 12 Sales 23 Sales Tax Payable 34 45 Aug 6 Accounts Receivable K Krtek 56 Sales 67 Sales Tax Payable 78 89 Aug 10 Sales Returns and Allowances 910 Sales Tax Payable 1011 Accounts Receivable S Miller 1112 1213 Aug 13 Cash 1314 Sales Discounts 1415 Accounts Receivable S Miller 1516 1617 Aug 15 Sales Returns and Allowances 1718 Sales Tax Payable 1819 Accounts Receivable K Krtek 1920 2021 Aug 20 Cash 2122 Accounts Receivable K Krtek 2223 23 I'm having problems on aug 13 entry i have entered debit for cash of 306, debit to discounts of 6, and accounts recievable for 312 the cash, discount and acc recv are correct But the cash and discount are wrong Help

Question

Aug  4 Sold merchandise on account to S  Miller for $320 plus sales tax of 4 , with 2 10, n 30 cash discount terms  6 Sold merchandise on account to K  Krtek for $210 plus sales tax of 4   10 S  Miller returned merchandise purchased on August 4 for $20 plus sales tax for credit  13 S  Miller paid the balance due on her account  15 K  Krtek returned merchandise purchased on August 6 for $40 plus sales tax for credit  20 K  Krtek paid the balance due on his account  1  Prepare journal entries for the following transactions  If required, round your answers to two decimal places  If an amount box does not require an entry, leave it blank  DATEACCOUNT TITLEDOC  NO POST  REF DEBITCREDIT1 20   Aug  4 Accounts Receivable S  Miller 12 Sales 23 Sales Tax Payable 34 45 Aug  6 Accounts Receivable K  Krtek 56 Sales 67 Sales Tax Payable 78 89 Aug  10 Sales Returns and Allowances 910 Sales Tax Payable 1011 Accounts Receivable S  Miller 1112 1213 Aug  13 Cash 1314 Sales Discounts 1415 Accounts Receivable S  Miller 1516 1617 Aug  15 Sales Returns and Allowances 1718 Sales Tax Payable 1819 Accounts Receivable K  Krtek 1920 2021 Aug  20 Cash 2122 Accounts Receivable K  Krtek 2223 23 I'm having problems on aug 13 entry i have entered debit for cash of 306, debit to discounts of 6, and accounts recievable for 312  the cash, discount and acc recv are correct But the cash and discount are wrong    Help

Accepted Answer

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Aug. 4	Sold merchandise on account to S. Miller for $320 plus sales tax of 4%, with 2/10, n/30 cash discount terms.
6	Sold merchandise on account to K. Krtek for $210 plus sales tax of 4%.
10	S. Miller returned merchandise purchased on August 4 for $20 plus sales tax for credit.
13	S. Miller paid the balance due on her account.
15	K. Krtek returned merchandise purchased on August 6 for $40 plus sales tax for credit.
20	K. Krtek paid the balance due on his account.

Question

Aug. 4 Sold merchandise on account to S. Miller for $320 plus sales tax of 4%, with 2/10, n/30 cash discount terms. 6 Sold merchandise

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