Question
Bella Floral Designs is a wholesale shop that sells flowers, plants, and plant supplies. The transactions shown below took place during January. DATE TRANSACTIONS Jan
Bella Floral Designs is a wholesale shop that sells flowers, plants, and plant supplies. The transactions shown below took place during January. DATE TRANSACTIONS Jan 3 Sold a floral arrangement to Thomas Florist; issued Invoice 1081 for $560. 8 Sold potted plants to Carter Garden Supply; issued Invoice 1082 for $805. 9 Sold floral arrangements to Thomasville Flower Shop; issued Invoice 1083 for $474. 10 Sold corsages to Moores Flower Shop; issued Invoice 1084 for $590. 15 Gave Thomasville Flower Shop an allowance because of withered blossoms discovered in one of the floral arrangements sold on Invoice 1083 on January 9; issued Credit Memorandum 101 for $56. 20 Sold table arrangements to Cedar Hill Floral Shop; issued Invoice 1085 for $540. 22 Sold plants to Applegate Nursery; issued Invoice 1086 for $740. 25 Sold roses to Moores Flower Shop; issued Invoice 1087 for $433. 27 Sold several floral arrangements to Thomas Florist; issued Invoice 1088 for $955. 31 Gave Thomas Florist an allowance because of withered blossoms discovered in one of the floral arrangements sold on Invoice 1088 on January 27; issued Credit Memorandum 102 for $180. Required: Record the transactions in the proper journal. Post the accounts receivable ledger. Post the amounts from the general journal daily. Post the sales journal amount as a total at the end of the month. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule. Analyze: Damaged goods decreased sales by what dollar amount? By what percentage amount?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started