Mar. 1 Sale on account No. 33C to Donachie & Co., $1,700 plus sales tax — Sourk Distributors retail business The following returns and cash receipts occurred during
General StudiesGeneralWorked Solution
Sourk 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, $9,586; and Accounts Receivable, $1,016. Beginning customer account balances included Whitaker Group, $1,016.
Mar. 1 Sale on account No. 33C to Donachie & 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. 33C 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. 33C 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.
Mar 16 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. 33E less Credit Memo No. 67.
21 Cash sales for the week were $2,510 plus sales tax.
25 Sale on account No. 33G 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.
Required
1. Record the transactions starting on page 7 of a general journal.
2. Post from the journal to the general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter.
SOLUTION
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1.
GENERAL JOURNAL PAGE 7
date
date
description
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
20--Mar.
1
Accounts Receivable/Donachie & Co.
122/
1
8
3
6
00
Sales
401
1
7
0
0
00
Sales Tax Payable
231
1
3
6
00
Sale No. 33C
3
Accounts Receivable/R. J. Kibubu, Inc.
122/
2
3
6
5
20
Sales
401
2
1
9
0
00
Sales Tax Payable
231
1
7
5
20
Sale No. 33D
5
Sales Returns and Allowances
401.1
4
0
00
Sales Tax Payable
231
3
20
Accounts Receivable/Donachie & Co.
122/
4
3
20
Returned merchandise—Credit Memo #66
7
Cash
101
3
3
9
1
20
Sales
401
3
1
4
0
00
Sales Tax Payable
231
2
5
1
20
Made cash sales
10
Cash
101
1
7
9
2
80
Accounts Receivable/Donachie & Co.
122/
1
7
9
2
80
Received cash on account
11
Accounts Receivable/Eck Bakery
122/
1
3
2
8
40
Sales
401
1
2
3
0
00
Sales Tax Payable
231
9
8
40
Sale No. 33E
13
Cash
101
2
3
6
5
20
Accounts Receivable/R. J. Kibubu, Inc.
122/
2
3
6
5
20
Received cash on account
GENERAL JOURNAL
PAGE 8
date
date
description
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
20--Mar.
14
Cash
101
4
4
2
8
00
Sales
401
4
1
0
0
00
Sales Tax Payable
231
3
2
8
00
Made cash sales
16
Sales Returns and Allowances
401.1
3
4
00
Sales Tax Payable
231
2
72
Accounts Receivable/Eck Bakery
122/
3
6
72
Returned merchandise—Credit Memo #67
18
Accounts Receivable/R. J. Kibubu, Inc.
122/
2
7
8
6
40
Sales
401
2
5
8
0
00
Sales Tax Payable
231
2
0
6
40
Sale No. 33F
20
Cash
101
1
2
9
1
68
Accounts Receivable/Eck Bakery
122/
1
2
9
1
68
Received cash on account
21
Cash
101
2
7
1
0
80
Sales
401
2
5
1
0
00
Sales Tax Payable
231
2
0
0
80
Made cash sales
25
Accounts Receivable/Eck Bakery
122/
2
1
7
0
80
Sales
401
2
0
1
0
00
Sales Tax Payable
231
1
6
0
80
Sale No. 33G
27
Accounts Receivable/Whitaker Group
122/
2
2
3
5
60
Sales
401
2
0
7
0
00
Sales Tax Payable
231
1
6
5
60
Sale No. 33H
GENERAL JOURNAL
PAGE 9
date
date
description
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
20--Mar.
28
Cash
101
3
6
9
3
60
Sales
401
3
4
2
0
00
Sales Tax Payable
231
2
7
3
60
Made cash sales
2.
GENERAL LEDGER
account Cashaccount no. 101
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
DEBIT
DEBIT
DEBIT
DEBIT
DEBIT
CREDIT
CREDIT
CREDIT
CREDIT
CREDIT
20--Mar.
1
Balance
9
5
8
6
00
7
J7
3
3
9
1
20
12
9
7
7
20
10
J7
1
7
9
2
80
14
7
7
0
00
13
J7
2
3
6
5
20
17
1
3
5
20
14
J8
4
4
2
8
00
21
5
6
3
20
20
J8
1
2
9
1
68
22
8
5
4
88
21
J8
2
7
1
0
80
25
5
6
5
68
28
J9
3
6
9
3
60
29
2
5
9
28
account Accounts Receivable
account no. 122
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
DEBIT
DEBIT
DEBIT
DEBIT
DEBIT
CREDIT
CREDIT
CREDIT
CREDIT
CREDIT
20--Mar.
1
Balance
1
0
1
6
00
1
J7
1
8
3
6
00
2
8
5
2
00
3
J7
2
3
6
5
20
5
2
1
7
20
5
J7
4
3
20
5
1
7
4
00
10
J7
1
7
9
2
80
3
3
8
1
20
11
J7
1
3
2
8
40
4
7
0
9
60
13
J7
2
3
6
5
20
2
3
4
4
40
16
J8
3
6
72
2
3
0
7
68
18
J8
2
7
8
6
40
5
0
9
4
08
20
J8
1
2
9
1
68
3
8
0
2
40
25
J8
2
1
7
0
80
5
9
7
3
20
27
J8
2
2
3
5
60
8
2
0
8
80
account Sales Tax Payable
account no. 231
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
DEBIT
DEBIT
DEBIT
DEBIT
DEBIT
CREDIT
CREDIT
CREDIT
CREDIT
CREDIT
20--Mar.
1
J7
1
3
6
00
1
3
6
00
3
J7
1
7
5
20
3
1
1
20
5
J7
3
20
3
0
8
00
7
J7
2
5
1
20
5
5
9
20
11
J7
9
8
40
6
5
7
60
14
J8
3
2
8
00
9
8
5
60
16
J8
2
72
9
8
2
88
18
J8
2
0
6
40
1
1
8
9
28
21
J8
2
0
0
80
1
3
9
0
08
25
J8
1
6
0
80
1
5
5
0
88
27
J8
1
6
5
60
1
7
1
6
48
28
J9
2
7
3
60
1
9
9
0
08
account Sales
account no. 401
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
DEBIT
DEBIT
DEBIT
DEBIT
DEBIT
CREDIT
CREDIT
CREDIT
CREDIT
CREDIT
20--Mar.
1
J7
1
7
0
0
00
1
7
0
0
00
3
J7
2
1
9
0
00
3
8
9
0
00
7
J7
3
1
4
0
00
7
0
3
0
00
11
J7
1
2
3
0
00
8
2
6
0
00
14
J8
4
1
0
0
00
12
3
6
0
00
18
J8
2
5
8
0
00
14
9
4
0
00
21
J8
2
5
1
0
00
17
4
5
0
00
25
J8
2
0
1
0
00
19
4
6
0
00
27
J8
2
0
7
0
00
21
5
3
0
00
28
J9
3
4
2
0
00
24
9
5
0
00
account Sales Returns and Allowances
account no. 401.1
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
BALANCE
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
DEBIT
DEBIT
DEBIT
DEBIT
DEBIT
CREDIT
CREDIT
CREDIT
CREDIT
CREDIT
20--Mar.
5
J7
4
0
00
4
0
00
16
J8
3
4
00
7
4
00
ACCOUNTS RECEIVABLE LEDGER
name Donachie & Co.
address 1424 Jackson Creek Road, Nashville, IN 47448-2245
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
balance
balance
balance
balance
balance
20--Mar.
1
J7
1
8
3
6
00
1
8
3
6
00
5
J7
4
3
20
1
7
9
2
80
10
J7
1
7
9
2
80
name Eck Bakery
address 6422 E. Bender Road, Bloomington, IN 47401-7756
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
balance
balance
balance
balance
balance
20--Mar.
11
J7
1
3
2
8
40
1
3
2
8
40
16
J8
3
6
72
1
2
9
1
68
20
J8
1
2
9
1
68
25
J8
2
1
7
0
80
2
1
7
0
80
name R. J. Kibubu, Inc.
address 3315 Longview Avenue, Bloomington, IN 47401-7223
date
date
item
POST. ref.
debit
debit
debit
debit
debit
credit
credit
credit
credit
credit
balance
balance
balance
balance
balance
20--Mar.
3
J7
2
3
6
5
20
2
3
6
5
20
13
J7
2
3
6
5
20
18
J8
2
7
8
6
40
2
7
8
6
40
name Whitaker Group
address 2300 E. National Road, Cumberland, IN 46229-4824