chapter 10 Homework #6

Journalizing sales transactions

Enter the following transactions in a general journal. Use a 5% sales tax rate.

Sept. 1 Sold merchandise on account to K. Smith, $1,800 plus sales tax. sale No. 228.

3 - Sold merchandise on account to J. Agnes, $3,200 plus sales tax. Sale No. 229

5 - Sold merchandise on account to M. Denison, $2,800 plus sales tax. Sale No. 230

7 - Sold merchandise on account to B. Marshall, $2,200 plus sales tax. Sale No. 231

Required.

Prepare journal entries.

(refer to the chart of accounts for the exact wording of the account titles)

((chart of accounts noted in pictures))

Journalizing Sales Transactions Instructions Enter the following transactions in a general joumal Use a 5% sales tax rate, Sept. 1 Sold merchandise on account to K. Smith, $1,600 plus sales tax Sale No. 228 3 Sold merchandise on account to J. Ames, $3.200 plus sales tax. Sale No. 229 5 Sold merchandise on account to M. Denison, $2,800 plus sales tax. Sale No. 230. 7 Sold merchandise on account to B. Marshall, 52,200 plus sales tax. Sale No. 231. Required: Prepare journal entries Chart of ccour CHART OF ACCOUNTS Chapter 10 General Ledger ASSETS 101 Cash 122 Accounts Receivable 141 Supplies 181 Omice Equipment REVENUE 401 Soles 401.1 Sales Returns and Allowances 401.2 Sales Discounts LIABILITIES 202 Accounts Payable 219 Wages Payable 231 Sales Tax Payable EXPENSES 511 Wages Expense 512 Advertising Expense 513 Bank Credit Card Experise 514 Store Supplies Expense 515 Travel and Entertainment Expense 549 Miscellaneous Expense EQUITY 311 Owner Capital 312 Owner, Drawing Subsidiary Ledgers Accounts Receivable Ledger 122.1 K. Smith 1222 J, Arnes 122.3 M. Denison 1224 3. Marshall Journalizing Sales Transactions General Journal Prepare journal entrios. General Joumal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 2 3 4 5 6 7 3 10 11 12