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Auto Geek is a retail store that sells car care products over the Internet. The firm's cash receipts for February and the general ledger accounts
Auto Geek is a retail store that sells car care products over the Internet. The firm's cash receipts for February and the general ledger accounts used to record these transactions are shown below.
GENERAL LEDGER ACCOUNTS
DATE TRANSACTIONS
February Received $ from Cathy Scott, a credit customer, on account.
February Received a cash refund of $ for damaged supplies,
February Had cash sales of $ plus sales tax of $ during the first week of February; there was a cash shortage of $
February Sal Dominguez, the owner, invested an additional $ cash in the business.
February Received $ from Jamie Garrison, a credit customer, in payment of her account.
February Had cash sales of $ plus sales tax of $ during the second week of February; there was an overage of $
February Received $ from Mike Hart, a credit customer, to apply toward his account.
February Received a check from Ken Pitts to pay his $ promissory note plus interest of $
February Had cash sales of $ plus sales tax of $ during the third week of February.
February Albert Cifuentes, a credit customer, sent a check for $ to pay the balance he owes.
February Had cash sales of $ plus sales tax of $ during the fourth week of February; there was a cash shortage of $
Required:
Open the general ledger accounts and enter the balances as of February X
Record the transactions in a cash receipts journal.
Post the individual entries from the Other Accounts Credit section of the cash receipts journal to the proper general ledger accounts.
Post the column totals from the cash receipts journal to the proper general ledger accounts.
Analyze:
What total accounts receivable were collected in February?
General
Ledgers
Post the opening balances and transactions into the appropriate ledger accounts.
Complete this question by entering your answers in the tabs below.
General Ledgers
Cash Rceipts
Analyze
Record the transactions in a cash receipts journal.
Note: Negative amounts should be indicated with a minus sign.
tableDateDescription,SH RECEIPT,S JOURNAL,tableSalesCreditOther Accounts Credit,tableCashDebittableAccountsReceivableCredittableSales TaxPayableCreditAccount Name,Amount
tableFebruary
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