Name Part Three-Recording Sales and Cash Receipts Transactions Selected transactions completed by Robbins Corporation during May of the current year are listed below. Directions: 1. Journalize the following transactions. Robbins Corporation offers terms of 2/10, n/30. The sales tax rate is 6%. Post any transaction impacting Accounts Receivable to the accounts receivable subsidiary ledger when the transaction is journalized. Journals and ledger accounts are shown on pages 103-106 of this test. Source documents are abbreviated as follows: receipt, R; sales invoice, S; terminal summary, TS. Transactions May 2. Recorded cash and credit card sales, $2,200.00, plus sales tax, $124.00; total, $2,324.00. TS9. 4. Received cash on account from Malone Corporation, covering S406 for $2,670.00. R506. 2. 5. Sold merchandise on account to Sherman City Schools, $1,480.00, plus sales tax. Sherman City Schools is exempt from sales tax. S424. 11. Received cash on account from Blair Industries, $1,540.00, covering S422, less a 2% discount. R507. 12. Sold merchandise on account to Blair Industries, $2,690.00, plus sales tax. S425. 13. Recorded cash and credit card sales, $2,350.00, plus sales tax, $132.00; total, $2,482.00. TS10. 20. Received cash on account from Blair Industries covering $425, less a 2% discount. R508. Post the sales journal to the general ledger. 3. Post the cash receipts journal to the general ledger. DATE ACCOUNT DEBITED SALES JOURNAL BALE POST NO. REY ACCOUNTS RECEIVABLE DESIT BALES CREDIT PAGE 3 BALES TAX PAYABLE CREDIT