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Journalizing Sales, Sales Returns and Allowances, and Cash Receipts Prepare journal entries for the following transactions. Aug. 4 Sold merchandise on account to S. Miller
Journalizing Sales, Sales Returns and Allowances, and Cash Receipts Prepare journal entries for the following transactions. Aug. 4 Sold merchandise on account to S. Miller for $370 plus sales tax of 4%, with 2/10, n/30 cash discount terms. 6 Sold merchandise on account to K. Krtek for $170 plus sales tax of 4%. 10 S. Miller returned merchandise purchased on August 4 for $40 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 $50 plus sales tax for credit. 20 K. Krtek paid the balance due on his account. DATE Page: 1 ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 20-- 1 Aug. 4 2 Accounts Receivable/S. Miller Sales 3 Sales Tax Payable 4 5 Aug. 6 Accounts Receivable/K. Krtek 176.8 6 Sales 8 9 10 11 Sales Tax Payable Aug. 10 Sales Returns and Allowances Sales Tax Payable Accounts Receivable/S. Miller 12 13 Aug. 13 Cash 14 15 56 16 Sales Discounts Accounts Receivable/S. Miller 17 Aug. 15 Sales Returns and Allowances 18 Sales Tax Payable 40 370 2 34 5 170 6 6.8 7 8 9 10 10 11 22 12 13 14 15 16 50 17 18 1 9 10 11 12 23 Aug. 10 Sales Returns and Allowances Sales Tax Payable Accounts Receivable/S. Miller 13 Aug. 13 Cash 14 15 56 16 Sales Discounts Accounts Receivable/S. Miller 17 Aug. 15 Sales Returns and Allowances 18 19 20 Sales Tax Payable Accounts Receivable/K. Krtek 21 Aug. 20 Cash 22 22 23 Accounts Receivable/K. Krtek 40 OU 9 10 50 11 12 13 14 15 16 17 18 52 19 20 21 22 23
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