Question
I need help with a few transactions: Sold merchandise on credit for $2,480 plus sales tax of $124 to Dimitri Sayegh, Sale slip 241. 2.
I need help with a few transactions:
- Sold merchandise on credit for $2,480 plus sales tax of $124 to Dimitri Sayegh, Sale slip 241.
2. Accepted a return of merchandise from Dimitri Sayegh. The merchandise was originally sold on Sale slip 241, dated Oct 3: issued Credit Memorandum 18 for $630, which includes sales tax of $30.
3. Received Credit Memorandum 175 for $430 from Classy Threads Inc. for defective goods that were returned. The original purchase was recorded on October 25.
4. Recorded the October payroll; earnings $10800, social security $702, Medicare $162, income tax $1,020, net pay $8,916. The excess withholdings corrected an error made in withholdings in September.
My question is does all this transactions goes on general journal and how do you post them.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started