Color Florists, a retail business, had the following cash receipts during January 20--. The sales tax is 5%. Jan. 1 3 5 8 11 Received payment on account from Ray Boyd, 5880. Received payment on account from Clint Hassell, $271. Made cash sales for the week, S2,800, plus tax. Bank credit card sales for the week, $1,200, plus tax. Bank credit card fee is 3%. Received payment on account from Jan Sowada, 5912. Ray Boyd returned merchandise for a credit, 540, plus tax. Made cash sales for the week, 83,100, plus tax. Bank credit card sales for the week, $1,900, plus tax. Bank credit card fee is 3%. Received payment on account from Robert Zehnle, $1,100. Robert Zehnle returned merchandise for a credit, $31, plus tax. Made cash sales for the week, 52,230, plus tax. Received payment on account from Dazai Manufacturing, 5318. 12 15 18 19 25 Beginning general ledger account balances were as follows: Cash Accounts Receivable $2,890.75 6,300.00 Beginning customer account balances were as follows: $1,400 R. Boyd Dazai Manufacturing 318 C. Hassell 815 J. Sowada 1,481 R. Zehnle 2,286 Required: 1. Record the transactions in the cash receipts journal. Total and verify the column totals. Use the general journal to record sales returns and allowances. 2. Post from the journals to the general ledger and accounts receivable ledger accounts. 1. Record sales returns and allowances in the general journal. General Journal Instructions PAGE 8 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 2 3 4 5 6 1. Record the transactions in the cash receipts journal. Total and verify the column totals. Cash Receipts Journal Instructions CASH RECEIPTS JOURNAL DATE ACCOUNT CREDITED POST. REF. GENERAL CREDIT ACCOUNTS RECEIVABLE CREDIT Jan. 1 Ray Boyd 3 Clint Hassell 5 5 8 Jan Sowada 12 12 15 Robert Zehnle 19 25 Dazai Manufacturing Page 10 BANK CREDIT CARD SALES CREDIT SALES TAX PAYABLE CREDIT CASH DEBIT EXPENSE DEBIT ] j ] ] j BO 2. Post from the journals to the general ledger. General Ledger Instructions GENERAL LEDGER Account: Cash Account No. 101 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 Jan. 1 Balance 2,890.75 2 GENERAL LEDGER Account: Cash Account No. 101 Account: Accounts Receivable Account No. 122 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 Jan. 1 Balance 6,300.00 2 3 4 GENERAL LEDGER Account: Cash Account No. 101 Account Accounts Receivable Account: Sales Tax Payable Account No. 122 Account No. 231 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 2 3 GENERAL LEDGER Account: Cash Account No. 101 Account No. 122 Account: Accounts Receivable Account: Sales Tax Payable Account: Sales Account No. 231 Account No. 401 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 GENERAL LEDGER Account: Cash Account No. 101 Account No. 122 Account: Accounts Receivable Account: Sales Tax Payable Account: Sales Account No. 231 Account No. 401 Account: Sales Returns and Allowances Account No. 401.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 2 GENERAL LEDGER Account No. 101 Account No. 122 Account No. 231 Account: Cash Account: Accounts Receivable Account: Sales Tax Payable Account: Sales Account: Sales Returns and Allowances Account: Bank Credit Card Expense Account No. 401 Account No. 401.1 Account No. 513 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 2. Post from the journals to the accounts receivable ledger. ACCOUNTS RECEIVABLE LEDGER Account: Ray Boyd Account No. 122.1 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Jan. 1 Balance 1,400.00 3 ACCOUNTS RECEIVABLE LEDGER Account: Ray Boyd Account: Dazai Manufacturing Account No. 122.1 Account No. 122.2 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Jan. 1 Balance 318.00 2 ACCOUNTS RECEIVABLE LEDGER Account No. 122.1 Account: Ray Boyd Account: Dazai Manufacturing Account: Clint Hassell Account No. 122.2 Account No. 122.3 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Jan. 1 Balance 815.00 2 ACCOUNTS RECEIVABLE LEDGER Account No. 122.1 Account No. 122.2 Account: Ray Boyd Account: Dazai Manufacturing Account: Clint Hassell Account: Jan Sowada Account No. 122.3 Account No. 122.4 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Jan. 1 Balance 1,481.00 2 ACCOUNTS RECEIVABLE LEDGER Account No. 122.1 Account No. 122.2 Account: Ray Boyd Account: Dazai Manufacturing Account: Clint Hassell Account: Jan Sowada Account: Robert Zehnle Account No. 122.3 Account No. 122.4 Account No. 122.5 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Jan. 1 Balance 2,286.00 2 3
