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ID: B ther Warehouse, a leather shop that sells luggage, handbags, business cases, and er goods. During the month of May, the following transactions took
ID: B ther Warehouse, a leather shop that sells luggage, handbags, business cases, and er goods. During the month of May, the following transactions took place. The applicable sales tax rate is 6%. May 2 Sold merchandise on account to James Koffsky, $250.00, plus sales tax. 9 Sold merchandise on account to Kevin Nolon, $470.00, plus sales tax. 12 James Koffsky returned $40.00 worth of merchandise purchased on May 2 for credit. ld merchandise on account to Joyce McKay, $110.00, plus sales tax. Sold merchandise on account to Tim Caney, $165.00, plus sales tax. Received payment from James Koffsky on account. Joyce McKay was given an allowance of $30.00 when she reported damage in the merchandise purchased May 18. Sold merchandise on account to James Koffsky, $500.00, plus sales tax. 22 26 28 31 31 Required 29 Sold merchandise on acount to Kevin Nolon, $230.00, plus sales tax. R eceived payment from Joyce McKay on account Cash sales for the month were $2,600, plus sales ta 1. Enter the above transactions in the appropriate journal 2. Post the entries from the journals to the subsidiary ledgers provided SALES JOURNAL Sales Tax Payable Credit Accounts Sale No. Receivable Sales Date To Whom Sold Ref Debit Credit CASH RECEIPTS JOURNAL Accounts Sales Tax Payable Cash Account PostGeneral Receivable Sales Credited CreditDeo Ref. Credit Credit Credit Debit Date
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