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The following transactions took place at Micky's Sports Emporium during the first week of October 20X1. DATE TRANSACTIONS October 1 Had cash sales of $7,000
The following transactions took place at Micky's Sports Emporium during the first week of October 20X1. DATE TRANSACTIONS October 1 Had cash sales of $7,000 plus sales tax of $490; there was a cash overage of $10. October 2 Collected $990 on account from John Carter, a credit customer. October 3 Had cash sales of $5,400 plus sales tax of $378. October 4 Mickey O'Donnell, the owner, made an additional cash investment of $24,000. October 6 Had cash sales of $6,900 plus sales tax of $483; there was a cash shortage of $24. Indicate how these transactions would be entered in a cash receipts journal. Note: Negative amounts should be indicated by a minus sign. Date Description Accounts Receivable Credit CASH RECEIPTS JOURNAL Sales Tax Payable Credit Sales Credit Other Accounts Credit Account Name Amount Cash Debit The following transactions took place at Micky's Sports Emporium during the first week of October 201. DATE. TRAOSACTIOCS October 1 Had cash sales of $7,690 plus sales tax of \$490; there was a cash overage of $10. october 2 collected $990 on account fron John Carter, a credit custoner. October 3 Mad cash sales of 55,400 plus sales tax of 5378 . October 4 Mickey 0 'Donnel1, the owner, made an additional cash Investment of $24,000. October 6 Had cash sales of 55,960 plus sales tax of 5433 ; there was a cash shortoge of $24. Indicate how these transactions would be entered in a cash receipts journal Note: Negotive omounts should be indicated by a minus sign
The following transactions took place at Micky's Sports Emporium during the first week of October 20X1. DATE TRANSACTIONS October 1 Had cash sales of $7,000 plus sales tax of $490; there was a cash overage of $10. October 2 Collected $990 on account from John Carter, a credit customer. October 3 Had cash sales of $5,400 plus sales tax of $378. October 4 Mickey O'Donnell, the owner, made an additional cash investment of $24,000. October 6 Had cash sales of $6,900 plus sales tax of $483; there was a cash shortage of $24. Indicate how these transactions would be entered in a cash receipts journal. Note: Negative amounts should be indicated by a minus sign. Date Description Accounts Receivable Credit CASH RECEIPTS JOURNAL Sales Tax Payable Credit Sales Credit Other Accounts Credit Account Name Amount Cash Debit
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