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that sells musical instruments. Transactions involving sales and cash receipts for the firm during April 2019 follow, along with the general ledger accounts used to
that sells musical instruments. Transactions involving sales and cash receipts for the firm during April 2019 follow, along with the general ledger accounts used to record these transactions GENERAL LEDGER ACCOUNTS $ 17,400 Dr. 101 Cash 109 Notes Receivable 22,000 Dr. 401 Sales 452 Sales Discounts DATE CTIONS April 1 Sold merchandise for $4,900 to Soprano Music Center, issued Invoice 9312 with terms of 2/10, n/30. a check for $1,960 from Music Supply Store in payment of Invoice 6718 of March 25 ($2,000), less a cash discount ($40) Sold merchandise for $5,500 to Music Wareh (598). original sale was made on Invoice 9313 of April 8. 5 Soid 8 for $1,825 in cash to a new customer who has not yet established credit. issued Invoice 9313 with terms of 2/10, n/30 Music Center sent a check for $4,802 in payment of Invoice 9312 of April 1 ($4,900), less a cash discount 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 105 for $900, the 19 Soid 23 Collected $3,.225 from Sounds From Yesterday for invoice 6725 of March 25. for $11,500 to Eagleton Music Center, issued invoice 9314 with terms of 2/10, n/30. note for $6,500 from Country Music Store in settlement of its overdue account; the note has an interest rate of 12 percent. a check for $11,270 from Eagleton Music Center in payment of Invoice 9314, dated April 19 ($11,500). less a cash discount ($230). 30 Sold merchandise for $1 0,800 to Contemporary Sounds, Inc.; issued Invoice 9315 with terms of 2/10, n/30. Required: 1. Open the general ledger accounts and enter the balances as of April 1, 2019 2 Record the 3. Post the entries from the general journal to the general ledger 4. Total, prove, and rule the special journals as of April 30, 2019 5. Post the column totals from the special journals to 6. Prepare the heading and the Revenue section of the firm's income statement for the month ended April 30 in a sales journal, a cash receipts journal, and a general journal. the proper general ledger accounts that sells musical instruments. Transactions involving sales and cash receipts for the firm during April 2019 follow, along with the general ledger accounts used to record these transactions GENERAL LEDGER ACCOUNTS $ 17,400 Dr. 101 Cash 109 Notes Receivable 22,000 Dr. 401 Sales 452 Sales Discounts DATE CTIONS April 1 Sold merchandise for $4,900 to Soprano Music Center, issued Invoice 9312 with terms of 2/10, n/30. a check for $1,960 from Music Supply Store in payment of Invoice 6718 of March 25 ($2,000), less a cash discount ($40) Sold merchandise for $5,500 to Music Wareh (598). original sale was made on Invoice 9313 of April 8. 5 Soid 8 for $1,825 in cash to a new customer who has not yet established credit. issued Invoice 9313 with terms of 2/10, n/30 Music Center sent a check for $4,802 in payment of Invoice 9312 of April 1 ($4,900), less a cash discount 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 105 for $900, the 19 Soid 23 Collected $3,.225 from Sounds From Yesterday for invoice 6725 of March 25. for $11,500 to Eagleton Music Center, issued invoice 9314 with terms of 2/10, n/30. note for $6,500 from Country Music Store in settlement of its overdue account; the note has an interest rate of 12 percent. a check for $11,270 from Eagleton Music Center in payment of Invoice 9314, dated April 19 ($11,500). less a cash discount ($230). 30 Sold merchandise for $1 0,800 to Contemporary Sounds, Inc.; issued Invoice 9315 with terms of 2/10, n/30. Required: 1. Open the general ledger accounts and enter the balances as of April 1, 2019 2 Record the 3. Post the entries from the general journal to the general ledger 4. Total, prove, and rule the special journals as of April 30, 2019 5. Post the column totals from the special journals to 6. Prepare the heading and the Revenue section of the firm's income statement for the month ended April 30 in a sales journal, a cash receipts journal, and a general journal. the proper general ledger accounts
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