Sales Journal, Cash Receipts Journal, and General Journal Owens Distributors is a retail business. The following sales, returns, and cash receipts occurred during March 20--. There is an 8% sales tax. Beginning general ledger account balances were Cash, $9,781; and Accounts Receivable, $1028.75. Beginning customer account balances were Thompson Group, $1028.75 Mar. 1 Sold merchandise to Able 8& Co., $1,844, plus sales tax. Sale No. 33C. 3 Sold merchandise to R. J. Kalas, Inc., $2,286, plus sales tax. Sale No. 33D. 5 Able & Co. returned merchandise from Sale No. 33C for a credit (Credit Memo No. 66), $29, plus sales tax 7 Made cash sales for the week, $3,170, plus sales tax. 10 Received payment from Able & Co. for Sale No. 33C less Credit Memo No. 66. 11 Sold merchandise to Blevins Bakery, $1,235, plus sales tax. Sale No. 33E 13 Received payment from R. J. Kalas, Inc. for Sale No. 33D. 14 Made cash sales for the week, $4,199, plus sales tax. 16 Blevins Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $43, plus sales tax. 18 Sold merchandise to R. J. Kalas, Inc., $2,606, plus sales tax. Sale No. 33F. 20 Received payment from Blevins Bakery for Sale No. 33E less Credit Memo No. 67. 21 Made cash sales for the week, $2,444, plus sales tax 25 Sold merchandise to Blevins Bakery, $1,935, plus sales tax. Sale No. 33G. 27 Sold merchandise to Thompson Group, $2,055, plus sales tax. Sale No. 33H. 28 Made cash sales for the week, $3,507, plus sales tax. Required: If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank 1. Record the transactions in the sales journal, cash receipts journal, and general journal. Total, verify, and rule the columns where appropriate at the en of the month. Page: 6 DATE SALE NO ACCOUNTS SALES TAX PAYABLE POST REF. RECEIVABLE CREDIT SALES TO WHOM SOLD DEBIT CREDIT 1 Mar. 1 33C 2 Mar. 3 33D 7 3 Mar. 11 33E 4 Mar. 18 33F 4 5 Mar. 25 33G 5 6 Mar. 27 33H 6 7 8 (122) (401) (231) Debit total: Credit total: Cash Receipts Journal Page 9 Account General Accounts Receivable Sales Tax Payable Sales Cash Date Credited Post. Ref. Credit Credit Credit Credit Debit 20- Mar. 7 Mar. 10 Able & Co. R. J. Kalas, Inc. Mar. 13 Mar. 14 Mar. 20 Blevins Bakery Mar. 21 Mar. 28 (401) (231) (101) (122) Debit total: Credit total: PAGE 5 GENERAL JOURNAL CREDIT POST. REF. DEBIT DATE DESCRIPTION 20-- Credit Memo #66 Credit Memo #67 2. Post from the journals to the general ledger and accounts receivable ledger accounts. 101 ACCOUNT NO. Cash ACCOUNT BALANCE POST. CREDIT CREDIT DEBIT ITEM DEBIT DATE REF. 20-- V Balance CR9 122 ACCOUNT NO. Accounts Receivable ACCOUNT BALANCE POST. CREDIT DEBIT CREDIT DEBIT ITEM DATE REF. 20- Balance J5 J5 S6 CR9 Sales Tax Payable ACCOUNT ACCOUNT NO. 231 BALANCE POST. CREDIT DEBIT CREDIT DATE ITEM DEBIT REF. 20-- J5 J5 S6 CR9 ACCOUNT NO. 401 Sales ACCOUNT BALANCE POST. DEBIT CREDIT DEBIT CREDIT ITEM DATE REF. 20 S6 CR9 401.1 ACCOUNT NO. Sales Returns and Allowances ACCOUNT BALANCE POST. CREDIT DEBIT CREDIT ITEM DEBIT DATE REF. 20- 35 J5 ACCOUNTS RECEIVABLE LEDGER Able & Co. NAME ADDRESS BALANCE CREDIT DEBIT POST. REF ITEM DATE 20- 56 J5 CR9 NAME Blevins Bakery ADDRESS DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20- S6 J5 CR9 S6 NAME R. J. Kalas, Inc. ADDRESS DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- S6 CR9 S6 Thompson Group NAME ADDRESS BALANCE CREDIT DEBIT POST. REF ITEM DATE 20-- Balance S6
