Sales and Cash Receipts Transactions Sourk Distributors is a retail business. The following sales, returns, and cash receipts occurred during March 20--.There is an 8% sales tax. Mar. 1 Sale on account No. 33C to Donachle & Co., $1,700 plus sales tax. 3 Sale on account No. 33D to R. J. Kibubu, Inc., $2,190 plus sales tax. 5 Donachie & Co. returned merchandise from Sale No. 330 for a credit (Credit Memo No. 66), $40 plus sales tax. 7 Cash sales for the week were $3,140 plus sales tax. 10 Received payment from Donachie & Co. for Sale No. 33 less Credit Memo No. 66. 11 Sale on account No. 33E to Eck Bakery, $1,230 plus sales tax. 13 Received payment from R. J. Kibubu for Sale No. 33D. 14 Cash sales for the week were $4,100 plus sales tax. Eck Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $34 plus sales tax. 18 Sale on account No. 33F to R. J. Kibubu, Inc., $2,580 plus sales tax. 20 Received payment from Eck Bakery for Sale No. 33 less Credit Memo No. 67. 21 Cash sales for the week were $2,510 plus sales tax. 25 Sale on account No. 336 to Eck Bakery, $2,010 plus sales tax 27 Sale on account No. 33H to Whitaker Group, $2,070 plus sales tax. 28 Cash sales for the week were $3,420 plus sales tax 16 Required: 1. Record the transactions starting on page 7 of a general journal. Enter the posting reference when you complete part 2. GENERAL JOURNAL PAGE 7 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20- Mar. 1 Mar. 3 /V Mar. 5 IV Mar. 7 Mar. 10 Mar. 11 IN M Mar. 13 N GENERAL JOURNAL DESCRIPTION POST. REF. PAGE 8 DATE DEBIT CREDIT 20- Mar. 14 Mar. 16 Mar. 16 / Mar. 18 IV Mar. 20 Mar. 21 M Mar. 25 MV Mar. 27 GENERAL JOURNAL PAGE 9 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20- Mar. 28 2. Post from the journal to the general ledger and accounts receivable ledger accounts. GENERAL LEDGER ACCOUNT Cash ACCOUNT NO. 101 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Mar. 1 Balance 9,586.00 ACCOUNT Accounts Receivable ACCOUNT NO. 122 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Mar. 1 Balance 1,016.00 ACCOUNT Sales Tax Payable ACCOUNT NO. 231 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- ACCOUNT 401 ACCOUNT NO. ACCOUNT Sales BALANCE CREDIT DEBIT CREDIT DEBIT DATE POST. REF. ITEM 20-- ACCOUNT NO. 401.1 ACCOUNT Sales Returns and Allowances BALANCE CREDIT DEBIT CREDIT DATE DEBIT POST. REF. ITEM 20-- NAME ACCOUNTS RECEIVABLE LEDGER Donachie & Co. 1424 Jackson Creek Road, Nashville, IN 47448-2245 POST. REF. DEBIT CREDIT BALANCE ADDRESS DATE ITEM 20- NAME ADDRESS Eck Bakery 6422 E. Bender Road, Bloomington, IN 47401-7756 POST. REF. DEBIT CREDIT DATE ITEM BALANCE 20- NAME ADDRESS R. J. Kibubu, Inc. 3315 Longview Avenue, Bloomington, IN 47401-7223 POST. REF. DEBIT CREDIT BALANCE DATE ITEM 20- NAME ADDRESS Whitaker Group 2300 E. National Road, Cumberland, IN 46229-4824 POST. REF. DEBIT CREDIT DATE ITEM BALANCE 20-- Mar. 1 Balance 1,016.00
