Question

Prepare a cash receipt journal and a general journal

Sales Journal, Cash Receipts Journal, and General Journal Owens Distributors is a retail business. The follow Mar. 1 Sold merchandise to Able & Co., $1,830, plus sales tax. Sale No. 33C ng sales, returns, and cash receipts occurred during March 20-.. There is an 8% sales tax. Beginning general ledger account e, $1058.25. Beginning customer account balances were Thompson Group, $1058.25. 3 Sold merchandise to R. J. Kalas, Inc., $2,203, plus sales tax. Sale No. 33D. S Able & Co. returned merchandise from Sale No. 33C for a credit (Credit Memo No. 66), $27, plus sales tax. 7 Made cash sales for the week, $3,15S, plus sales tax 10 Received payment from Able & Co. for Sale No. 33C less Credit Memo No. 66. 11 Sold merchandise to Blevins Bakery, $1,213, plus sales tax. Sale No. 33E 13 Received payment from R. J. Kalas for Sale No. 33D. 14 Made cash sales for the week, $4,240, plus sales tax. 16 Blevins Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $41, plus sales tax 18 Sold merchandise to R. J. Kalas, Inc., $2,611, 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, $2,378, plus sales tax 25 Sold merchandise to Blevins Bakery, $1,905, plus sales tax. Sale No. 33G 27 Sold merchandise to Thompson Group, $2,083, plus sales tax. Sale No. 33H. 28 Made cash sales for the week, $3,541, plus sales tax

Answer 1

Sales Journal
Date	Sales No.	To Whom Sold	Post Ref.	Accounts Receivable Dr.	Sales Credit	Sales Tax Payable Credit
1-Mar	33C	Able & Co.		1,976.40	1,830.00	146.40
3-Mar	33D	R J Kalas		2,379.24	2,203.00	176.24
11-Mar	33E	Blevins Bakery		1,310.04	1,213.00	97.04
18-Mar	33F	R J Kalas		2,819.88	2,611.00	208.88
25-Mar	33G	Blevins Bakery		2,057.40	1,905.00	152.40
27-Mar	33H	Thompson Group		2,249.64	2,083.00	166.64
Debit Total		12,792.60
Credit Total		12,792.60

Cash Receipts Journal
Date	Accounts Credited	Post Ref.	General Credit	Accounts Receivable Cr.	Sales Credit	Sales Tax Payable Credit	Cash Debit
7-Mar					3,155.00	252.40	3,407.40
10-Mar	Able & Co.			1,947.24			1,947.24
13-Mar	R J Kalas & Co			2,379.24			2,379.24
14-Mar					4,240.00	339.20	4,579.20
20-Mar	Blevins Bakery			1,265.76			1,265.76
21-Mar					2,378.00	190.24	2,568.24
28-Mar					3,541.00	283.28	3,824.28
Debit Total		19,971.36
Credit Total		19,971.36
General Journal
Date	Description	Post Ref.	Debit	Credit
5-Mar	Sales Return & Allowances		27.00
	Sales Tax Payable		2.16
	Accounts Receivable			29.16
	(Credit Memo No 66)
16-Mar	Sales Return & Allowances		41.00
	Sales Tax Payable		3.28
	Accounts Receivable			44.28
	(Credit Memo No 67)

Account	Cash				Account No	101
Date	Items	Post Ref.	Debit	Credit	Balance
					Debit	Credit
1-Mar	Beg. Bal.				9,710.00
7-Mar			3,407.40		13,117.40
10-Mar			1,947.24		15,064.64
13-Mar			2,379.24		17,443.88
14-Mar			4,579.20		22,023.08
20-Mar			1,265.76		23,288.84
21-Mar			2,568.24		25,857.08
28-Mar			3,824.28		29,681.36
Account	Accounts Receivable				Account No	122
Date	Items	Post Ref.	Debit	Credit	Balance
					Debit	Credit
1-Mar	Beg. Bal.				1,058.25
1-Mar			1,976.40		3,034.65
3-Mar			2,379.24		5,413.89
5-Mar				29.16	5,384.73
10-Mar				1,947.24	3,437.49
11-Mar			1,310.04		4,747.53
13-Mar				2,379.24	2,368.29
16-Mar				44.28	2,324.01
18-Mar			2,819.88		5,143.89
20-Mar				1,265.76	3,878.13
25-Mar			2,057.40		5,935.53
27-Mar			2,249.64		8,185.17
Account	Sales tax Payable				Account No	231
Date	Items	Post Ref.	Debit	Credit	Balance
					Debit	Credit
1-Mar				146.40		146.40
3-Mar				176.24		322.64
5-Mar			2.16			320.48
7-Mar				252.40		572.88
11-Mar				97.04		669.92
14-Mar				339.20		1,009.12
16-Mar			3.28			1,005.84
21-Mar				190.24		1,196.08
25-Mar				152.40		1,348.48
27-Mar				166.64		1,515.12
28-Mar				283.28		1,798.40
Account	Sales				Account No	401
Date	Items	Post Ref.	Debit	Credit	Balance
					Debit	Credit
1-Mar				1,830.00		1,830.00
3-Mar				2,203.00		4,033.00
7-Mar				3,155.00		7,188.00
11-Mar				1,213.00		8,401.00
14-Mar				4,240.00		12,641.00
21-Mar				2,378.00		15,019.00
25-Mar				1,905.00		16,924.00
27-Mar				2,083.00		19,007.00
28-Mar				3,541.00		22,548.00
Account	Sales Return & Allowances				Account No	401
Date	Items	Post Ref.	Debit	Credit	Balance
					Debit	Credit
5-Mar			27.00		27.00
16-Mar			41.00		68.00
Accounts Receivable Ledger
Name	Able & Co.
Address
Date	Items	Post Ref.	Debit	Credit	Balance
					Debit	Credit
1-Mar			1,976.40		1,976.40
5-Mar				29.16	1,947.24
10-Mar				1,947.24	-
Name	Blevins Bakery
Address
Date	Items	Post Ref.	Debit	Credit	Balance
					Debit	Credit
11-Mar			1,310.04		1,310.04
16-Mar				44.28	1,265.76
20-Mar				1,265.76	-
25-Mar			2,057.40		2,057.40
Name	R J Kalas, Inc.
Address
Date	Items	Post Ref.	Debit	Credit	Balance
					Debit	Credit
3-Mar			2,379.24		2,379.24
13-Mar				2,379.24	-
18-Mar			2,819.88		2,819.88
Name	Thompson Group
Address
Date	Items	Post Ref.	Debit	Credit	Balance
					Debit	Credit
1-Mar	Beg. Bal.				1,058.25
27-Mar			2,249.64		3,307.89