Question
Journalize the following transactions. 1) Arranged for the move east to make the delivery of the computer system and paid the delivery charge of 600$.
Journalize the following transactions.
1) Arranged for the move east to make the delivery of the computer system and paid the delivery charge of 600$. This charge should be added to the cost of the computer equipment purchased and depreciated on the same basis as the computer equipment. Only record the delivery.
2)Sold Merchandise for $5000 cash. The sales tax for $412.50 was not included in the sale amount. The cost of the purses is $900; the cost of the shoes is $2000. This sale has to be delivered to the customer. The merchandise will be shipped FOB destination.
3)Recorded sales on account that totaled $7500. The cost of the merchandise sold was $3000( shoes were $2000; purses $1000.). The sales tax was $618.75.
4)Mrs. Cloud recorded cash sales totaling $7000. A sales tax of $577.50 was not included in the sale amount. The cost of the merchandise sold was $4000( shoes $2500 and purses $1500.)
5) Paid the first monthly installment on the computer equipment. The payment amount is $412.50. Of this amount, $37.50 is for interest and $375 is for principal.
6)Recorded sales made for the last week of the month. Total sales were $4500 cash. A sales tax of $371.25 was not included in the sale. The cost of the merchandise sold was $1700( shoes $1500; purses $200)
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