Question

please help

Enter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule the journal. If an amount box does not require an entry, leave it blank. Feb. 2 John Door made an $890 payment on account. 7 Cash sales for the week, $2,140, plus sales tax. 11 Tom Chovin made a $600 payment on account 14 Grace Borsetti made a $1,540 payment on account 18 Cash sales for the week, $2,300, plus sales tax. 24 Peter Chan paid $540 on account. 28 Jean Amore paid $350 on account. Page 1 CASH RECEIPTS JOURNAL Accounts General Receivable Post. Ref. Credit Credit Sales Credit Sales Tax Payable Credit Cash Debit Account Date Credited Feb. 2 John Door 7 Cash sales 11 Tom Chovin 14 Grace Borsetti 18 Cash sales 24 Peter Chan 28 Jean Amore

Answer 1

Answer

• Requirement asked

Date	Account receivables Credit	Sales Credit	Sales Tax Payable credit	Cash Debit
Feb-02	$890			$890
Feb-07		$2,140	$107	$2,247
Feb-11	$600			$600
Feb-14	$1,540			$1,540
Feb-18		$2,300	$115	$2,415
Feb-24	$540			$540
Feb-28	$350			$350
	$3,920	$4,440	$222	$8,582

--Working

Account receivables Credit	Sales Credit	Sales Tax Payable credit	Cash Debit
890			890
	2140	=2140*5%	=2140+(2140*5%)
600			600
1540			1540
	2300	=2300*5%	=2300+(2300*5%)
540			540
350			350