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From the transactions above, please prepare a sales invoice, general journal and accounts receivable ledgers. SALES AND CASH RECEIPTS TRANSACTIONS Owens Distributors is a retail
From the transactions above, please prepare a sales invoice, general journal and accounts receivable ledgers.
SALES AND CASH RECEIPTS TRANSACTIONS Owens Distributors is a retail business. The following sales, returns, and cash receipts occurred during March 20--. There is an 8% sales tax. Beginning general ledger account balances were Cash, $9,741.00; and Accounts Receivable, $1,058.25. Beginning customer account balances included Thompson Group, S1,058.25. Mar. 1 Sale on account No. 33C to Able & Co., $1,800 plus sales tax. 3 Sale on account No. 33D to R. J. Kalas, Inc., $2,240 plus sales tax. 5 Able & Co. returned merchandise from Sale No. 33C for a credit (Credit Memo No. 66), S30 plus sales tax. 7 Cash sales for the week were $3,160 plus sales tax. 10 Received payment from Able & Co. for Sale No. 33C less Credit Memo No. 66. 11 Sale on account No. 33E to Blevins Bakery, $1,210 plus sales tax. 13 Received payment from R. J. Kalas for Sale No. 33D. 14 Cash sales for the week were $4,200 plus sales tax. 16 Blevins Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $44 plus sales tax. 18 Sale on account No. 33F to R. J. Kalas, Inc., $2,620 plus sales tax. 20 Received payment from Blevins Bakery for Sale No. 33 less Credit Meino No. 67. 21 Cash sales for the week were $2,400 plus sales tax. 25 Sale on account No. 33G to Blevins Bakery, $1,915 plus sales tax. 27 Sale on account No. 33H to Thompson Group, $2,016 plus sales tax. 28 Cash sales for the week were $3,500 plus sales taxStep by Step Solution
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