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Exercise 7 . 4 ( Static ) Recording sales made for cash and on account, with 9 percent sales tax, and sales returns. LO 7
Exercise Static Recording sales made for cash and on account, with percent sales tax, and sales returns. LO
Fashion Park must charge percent sales tax on all sales.
DATE TRANSACTIONS
April X Sold merchandise for cash, $ plus sales tax.
April X The customer purchasing merchandise for cash on April returned $ of the merchandise; provided a cash refund to the customer.
April X Sold merchandise on credit to Lynn Bui; issued Sales Slip for $ plus tax, terms n
April X Accepted return of damaged merchandise from Lynn Bui; issued Credit Memorandum for $ plus tax. The original sale was made on Sales Slip of April
April X Received payment on account from Lynn Bui in payment of her purchase of April less the return on April
Required:
Record the above transactions of Fashion Park in a general journal.
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