College accounting 22e Chapter 10 Series B Exercises (1-8)

I asa les for the wek were $2,510 plan sales tax 25 Sale on account No. 33G to Eck Bakers $2,010 plus ules us 27 Sale on account No. 33H to Whitaker Group, $2.070 pl 28 Cash sales for the wrck were 51,420 plus sales tax EQUIRED 1. Recoed the transactions starting on page 7 of a general joumal 2. Post froen the journsl to the general ledger and acccunts receivahle ledger accounts Use account numbers as shown in the chapter SCHEDULE OF ACCOUNTS RECEIVABLE Baed on the information peovided im Problem 10-11A, prepare a schedale of acounts receswable for Sourk Dinbutors as of March 31, 20- Venity that the accounts recesivable account balance in the gmerat ledger agrees with the schedule of accounts receivable total IDI2A (L04) SERIES B EXERCISES SALES DOCUMENTS Indicate whether each of the following documents oe pece dures is for a retail husines or foe a wholesale husness, as descnbed in the chaper 1. A cash register receipe is piven to the customer 2. Credit approval is respared since sales are almost always "on account 3. Three copies of the sakes invnc peped: one for shipping, one for the cos omer (as a bill, and one for accounting 4. A sales ticket is given 0o a customer asd anoeher copy is sene to accounming 5. The sales peocess beqins with a cestumer purchase under %. The sales imuice itemies what is sold, its cost, and che total amoust owed SALES TRANSACTIONS AND T ACOOUNTS Using T accounts fur Receivable, Sales Tax Payabile, Sales,Sales Returms and Allowa eniter the following sales cransactions Use a new set of accounts for each Cash, Accounts nor, and Salo D part, 1-5 I. No sales tax al Menchandie is sold for $250 cash. hi Merchadise is sold on accoure for $225 ic) Payment is received fur menchandise sold on account 26%.ales ta. a) Merchandise n old for 5250 cash plus ala tax iby Merchandise is sold on accoent for 5225 plus sales rax (c) Pa?ment is receivel for merchandive sold on accvant. I asa les for the wek were $2,510 plan sales tax 25 Sale on account No. 33G to Eck Bakers $2,010 plus ules us 27 Sale on account No. 33H to Whitaker Group, $2.070 pl 28 Cash sales for the wrck were 51,420 plus sales tax EQUIRED 1. Recoed the transactions starting on page 7 of a general joumal 2. Post froen the journsl to the general ledger and acccunts receivahle ledger accounts Use account numbers as shown in the chapter SCHEDULE OF ACCOUNTS RECEIVABLE Baed on the information peovided im Problem 10-11A, prepare a schedale of acounts receswable for Sourk Dinbutors as of March 31, 20- Venity that the accounts recesivable account balance in the gmerat ledger agrees with the schedule of accounts receivable total IDI2A (L04) SERIES B EXERCISES SALES DOCUMENTS Indicate whether each of the following documents oe pece dures is for a retail husines or foe a wholesale husness, as descnbed in the chaper 1. A cash register receipe is piven to the customer 2. Credit approval is respared since sales are almost always "on account 3. Three copies of the sakes invnc peped: one for shipping, one for the cos omer (as a bill, and one for accounting 4. A sales ticket is given 0o a customer asd anoeher copy is sene to accounming 5. The sales peocess beqins with a cestumer purchase under %. The sales imuice itemies what is sold, its cost, and che total amoust owed SALES TRANSACTIONS AND T ACOOUNTS Using T accounts fur Receivable, Sales Tax Payabile, Sales,Sales Returms and Allowa eniter the following sales cransactions Use a new set of accounts for each Cash, Accounts nor, and Salo D part, 1-5 I. No sales tax al Menchandie is sold for $250 cash. hi Merchadise is sold on accoure for $225 ic) Payment is received fur menchandise sold on account 26%.ales ta. a) Merchandise n old for 5250 cash plus ala tax iby Merchandise is sold on accoent for 5225 plus sales rax (c) Pa?ment is receivel for merchandive sold on accvant