DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Mar. 2 Accounts Receivable-Equinox Co. 18,900.00 1 2 Sales 18,900.00 1 3 2. Accounts Receivable-Equinox Co. 18,900.00 1 4 Sales 18,900.00 1 5 2 Cost of Goods Sold 13,300.00 1 6 Inventory 13,300.00 1 7 Mar. 2 Cost of Goods Sold 13,300.00 8 Inventory 13,300.00 1 9 Mar. 3 Cash 12,031.00 1 10 Sales 11,350.00 1 11 Sales Tax Payable 681.00 1 12 Mar. 3 Cash 12,031.00 1 13 Sales Tax Payable 11,350.00 1 Sales Tax Payable 11,350.00 1 Cash 681.00 1 Mar. 3 Cost of Goods Sold 7,000.00 1 Inventory 7,000.00 + Mar. 3 Cost of Goods Sold 7,000.00 Inventory 7,000.00 Mar. 4 Accounts Receivable-Empire Co. 55,400.00 1 Sales 55,400.00 1 Mar. 4 Accounts Receivable-Empire Co. 55,400.00 1 Sales 55,400.00 1 Mar. 4 Cost of Goods Sold 33,200.00 1 Inventory 33,200.00 + Mar. 4 Cost of Goods Sold 33,200.00 Inventory 33,200.00 1 25 Mar. 4 Cost of Goods Sold 33,200.00 26 Inventory 33,200.00 1 27 Mar. 5 Cash 31,800.00 1 28 Sales 30,000.00 1 > 29 Sales Tax Payable 1,800.00 1 30 Mar. 5 Cash 31,800.00 1 31 Sales 30,000.00 1 32 Sales Tax Payable 1,800.00 1 DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 1 Mar. 5 Cost of Goods Sold 19,400.00 2 Inventory 19,400.00 1 3 Mar. 5 Cost of Goods Sold 19,400.00 1 4 Inventory 19,400.00 1 5 Mar. 12 Cash 18,711.00 1 6 Cost of Goods Sold 189.00 1 7 Accounts Receivable-Equinox Co. 18,900.00 1 8 Mar. 12 Cash 18,711.00 1 9 Cost of Goods Sold 189.00 1 10 Accounts Receivable-Equinox Co. 18,900.00 1 11 Mar. 14 Cash 13,700.00 1 12 Sales 13,700.00 1 13 Mar. 14 Cost of Goods Sold 8,350.00 1 14 Inventory 8,350.00 1 13 Mar. 14 Cost of Goods Sold 8,350.00 14 Inventory 8,350.00 1 15 Mar. 16 Accounts Receivable-Targhee Co. 27,500.00 1 16 Sales 27,500.00 1 17 Mar. 15 Cost of Goods Sold 16,000.00 + 18 Inventory 16,000.00 1 Record on page 10 of the journal Mar. 2 Sold merchandise on account to Equinox Co., $18,900, terms FOB destination, 1/10, n/30. The cost of the goods sold was $13,300. 3 Sold merchandise for $11,350 plus 6% sales tax to retail cash customers. The cost of the goods sold was $7,000. 4. Sold merchandise on account to Empire Co., $55,400, terms FOB shipping point, n/eom. The cost of the goods sold was $33,200. 5 Sold merchandise for $30,000 plus 6% sales tax to retail customers who used MasterCard. The cost of the goods sold was $19,400. 12 Received check for amount due from Equinox Co. for sale on March 2. Sold merchandise to customers who used American Express cards, $13,700. The cost of the goods 14 sold was $8,350. 16 Sold merchandise on account to Targhee Co., $27,500, terms FOB shipping point, 1/10, n/30. The cost of the goods sold was $16,000. 18 Issued credit memo for $4,800 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $2,900. 16 Sold merchandise on account to Targhee Co., $27,500, terms FOB shipping point, 1/10, n/30. The cost of the goods sold was $16,000. 18 Issued credit memo for $4,800 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $2,900. Record on page 11 of the journal Mar. 19 Sold merchandise on account to Vista Co., $8,250, terms FOB shipping point, 2/10, n/30. Added $75 to the invoice for prepaid freight. The cost of the goods sold was $5,000. 26 Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18. 28 Received check for amount due from Vista Co. for sale of March 19. 31 Received check for amount due from Empire Co. for sale of March 4. 31 Paid Fleetwood Delivery Service $5,600 for merchandise delivered during March to customers under shipping terms of FOB destination. Apr. 3 Paid City Bank $940 for service fees for handling MasterCard and American Express sales during March. 15 Paid $6,544 to state sales tax division for taxes owed on sales
