Problem 14-7 Recording Sales and Cash Receipts Shutterbug Cameras had the following transactions during January. The partial chart of accounts for Shutterbug is shown here. General Ledger Cash in Bank Accounts Receivable Supplies Sales Tax Payable Sales Sales Discounts Sales Returns and Allowances Accounts Receivable Subsidiary Ledger DIA Diaz, Arturo FAS FastForward Productions NAK Nakata, Yoko SUL Sullivan, Heather Date Transactions Jan 1 1. Sold merchandise on account to Yoko Nakata for $250 plus a 4% sales tax of $10 Sales Slip 90. 3 2. Received $50 in cash from the sale of supplies to Betty's Boutique. Receipt 2011, 7 3. Sold $300 in merchandise plus a sales tax of $12 to Arturo Diaz on account Sales Slip 91. 124. Sold on account $1,500 in merchandise plus a sales tax of $60 to FastForward Productions, credit terms 2/10, n/30, Sales Slip 92. 13 5. Issued Credit Memorandum 20 for $312 to Arturo Diaz which includes $300 in merchandise returned by him plus sales tax of $12. 14 6. Received a check for $260 from Yoko Nakata in full payment of his account Receipt 202, 15 7. Cash sales amounted to $2,500 plus $100 in sales tax. Tape 75. 15 8. Bankcard sales were $3,000 plus $120 in sales tax, Tape 75 21 9. Received a check for $1.530 from FastForward Productions in payment of their $ 1,560 account balance less a cash discount of $30. Receipt 203. 28 10. Granted Heather Sullivan a $104 allowance for damaged merchandise of $100 plus a 4% sales tax of $4 Credit Memorandum 21. 1. Record the above transactions in the general journal. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 Sold merchandise on account to Yoko Nakata for $250 plus a 4% sales tax of $10, Sales Slip 90. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 1 Record entry Clear entry View general Journal