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Journalizing Sales, Sales Returns and Allowances, and Cash Receipts Aug. 4 Sold merchandise on account to S. Miller for $380 plus sales tax of 4%,
Journalizing Sales, Sales Returns and Allowances, and Cash Receipts
Aug. 4 | Sold merchandise on account to S. Miller for $380 plus sales tax of 4%, with 2/10, n/30 cash discount terms. |
6 | Sold merchandise on account to K. Krtek for $180 plus sales tax of 4%. |
10 | S. Miller returned merchandise purchased on August 4 for $20 plus sales tax for credit. |
13 | S. Miller paid the balance due on her account. |
15 | K. Krtek returned merchandise purchased on August 6 for $40 plus sales tax for credit. |
20 | K. Krtek paid the balance due on his account. |
1. Prepare journal entries for the following transactions. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank.
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