Question

Sales Journal, Cash Receipts Journal, and General Journal

Owens 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, $9,774; and Accounts Receivable, $1034.00. Beginning customer account balances were Thompson Group, $1034.00.

Mar. 1	Sold merchandise to Able & Co., $1,843, plus sales tax. Sale No. 33C.
3	Sold merchandise to R. J. Kalas, Inc., $2,274, plus sales tax. Sale No. 33D.
5	Able & Co. returned merchandise from Sale No. 33C for a credit (Credit Memo No. 66), $30, plus sales tax.
7	Made cash sales for the week, $3,113, plus sales tax.
10	Received payment from Able & Co. for Sale No. 33C less Credit Memo No. 66.
11	Sold merchandise to Blevins Bakery, $1,160, plus sales tax. Sale No. 33E.
13	Received payment from R. J. Kalas, Inc. for Sale No. 33D.
14	Made cash sales for the week, $4,192, plus sales tax.
16	Blevins Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $40, plus sales tax.
18	Sold merchandise to R. J. Kalas, Inc., $2,598, 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, $2,381, plus sales tax.
25	Sold merchandise to Blevins Bakery, $1,929, plus sales tax. Sale No. 33G.
27	Sold merchandise to Thompson Group, $2,029, plus sales tax. Sale No. 33H.
28	Made cash sales for the week, $3,482, plus sales tax.

1. Record the transactions in the sales journal, cash receipts journal, and general journal. Total, verify, and rule the columns where appropriate at the end of the month Page: 6 SALES TAX ACCOUNTS SALES PAYABLE DATE SALE 1 Mar. 1 33 Able and Co. 2 Mar. 3 33D R.J. Kalas, Inc. NO TO WHOM SOLD POST REF RECEIVABLE CREDIT CREDIT DEBIT Mar. 11 33E Blevins Bakery 4 Mar. 18 33F R.J. Kalas, Inc. 5 Mar. 25 33G Blevins Bakery 6 Mar. 27 33H Thompson Group 7 (122) (401) (231) Debit total Credit total Cash Receipts Journal Page 9 Cash Debit Accounts Receivable Sales Sales Tax Payable Credit Account General Credited Date Post. Ref Credit Credit Credit 20-- Mar. 7 Mar. 10 Mar. 13 Mar. 14 Mar. 20 Mar. 21 Mar. 28 Able & Co R. J. Kalas, Inc. Blevins Bakery (122) (101) (401) (231) Debit total Credit total GENERAL JOURNAL PAGE 5 DESCRIPTION POST. REF DEBIT DATE CREDIT 20-- Sales Returns and Allowances Sales Tax Payable Accounts Receivable/Able& Co. Credit Memo #66 Mar. 5 Sales Returns and Allowances Sales Tax Payable Accounts Receivable/Blevins Bakery Credit Memo #67 Mar. 16 2. Post from the journals to the general ledger and accounts receivable ledger accounts Cash ACCOUNT NO ACCOUNT 101 BALANCE DEBIT DEBIT DATE ITEM POST. REF CREDIT CREDIT 20-- Mar. 1 Mar. 31 Balance CR9 Accounts Receivable ACCOUNT NO ACCOUNT 122 BALANCE POST ITEM DEBIT DEBIT DATE CREDIT CREDIT REF 20-- Mar. 1 Mar. 5 Mar. 16 Mar. 31 Balance V 15 15 S6 CR9 Sales Tax Payable ACCOUNT NO ACCOUNT 231 BALANCE DEBIT DATE ITEM POST. REF DEBIT CREDIT CREDIT 20-- Mar. 5 Mar. 16 Mar. 31 Mar. 31 J5 15 S6 CR9 Sales 401 ACCOUNT ACCOUNT NO BALANCE DEBIT DATE ITEM POST. REF DEBIT CREDIT CREDIT 20-- Mar. 31 Mar. 31 S6 CR9 Sales Returns and Allowances ACCOUNT NO 401.1 ACCOUNT BALANCE DEBIT DEBIT DATE ITEM POST. REF CREDIT CREDIT 20-- Mar. 5 Mar. 16 J5 15 ACCOUNTS RECEIVABLE LEDGER NAME ADDRESS DATE Able & Co ITEM POST. REF DEBIT CREDIT BALANCE 20一 Mar. 1 Mar. 5 Mar. 10 S6 15 CR9 NAME ADDRESS DATE Blevins Bakery POST. REF DEBIT ITEM CREDIT BALANCE 20-- Mar. 11 Mar. 16 Mar. 20 Mar. 25 S6 15 CR9 S6 NAME ADDRESS DATE R. J. Kalas, Inc ITEM POST. REF DEBIT CREDIT BALANCE 20-- Mar. 3 Mar. 13 Mar. 18 S6 CR9 S6 NAME ADDRESS DATE Thompson Group POST. REF DEBIT ITEM CREDIT BALANCE 20-- Mar. 1 Mar. 27 Balance S6

Answer 1

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you 1. Sales Journal Sale No To whom sold Post Ref Accounts Receivable Sales Credit Sales Tax Payable 1,990.44S$ 2,455.92 $ 1,252.80 $ 2,805.84$ 2,083.32$ 2,191.32$ 147.44 181.92 92.80 207.84 154.32 162.32 1,843.00 S 2,274.00 S 1,160.00 S 2,598.00 $ 1,929.00 2,029.00 $ e and CO Blevins Bakery Blevins Bakery Thompson Group 33h 12,779.64$ 11,833.00 $ Total 946.64 2. Cash Receipt Journal Accounts Receivable Sales Credit Sales Tax Payable Credit Cash Account Credited Post Ref General Credit Credit Sales Able and Co 3,111.00 $ 248.88 3,359.88 1,958.04 2,455.92 335.36 $ 4,527.36 $1,209.60 190.48$ 2,571.48 278.56 3,760.56 1,958.04 2,455.92 4,192.00 5 Blevins Bakery Mar 20 1,209.60 2,381.00$ 3,482.00 Sales 5,623.56$ 13,166.00 $ 1,053.28 $19,842.84 Total Part 3 General Journal Description Post Ref Debit Credit Sales return and allowances Sales Tax Payable Accounts Receivable/Able and Co Sales return and allowances Sales Tax Payable 3.20 Accounts Receivable/Blevins Bakery Part 2 Ledger: Cash Balance Post Ref Debit Item Credit Credit Balance CR9 9,774.00 29,616.84 19,842.84 Accounts Reveivable Balance Post Ref Debit Debit Credit Item Credit Balance 1,034.00 1,001.60 958.40 13,738.04 8,114.48 43.20 S Mar 16 12,779.64 5,623.56 S CR9

Sales Tax Payable Date Balance Credit Debit Post Ref Debit Credit Item Mar 5 Mar 16 Mar 31 Mar 31 3.20 5.60 946.64 941.04 1,053.28 1,994.32 CR9 Sales Balance Post Ref Debit Credit Debit Credit Date Item $11,833.00 24,999.00 11,833.00 13,166.00 Mar 31 Mar 31 CR9 Sales Return and allowance Balance Post Ref Debit Debit Credit Date Item Credit 30.00 40.00 30.00 70.00 Mar 5 Mar 16 Accounts Receivable Ledger: Able & Co Date Post Ref Debit Credit Balance Item Mar 1 1,990.44 1,958.04 1,990.44 32.40 S 1,958.04 Mar 10 CR9 Blevins Bakery Date Post Ref Debit Credit Balance Item 1,252.80 Mar 11 Mar 16 Mar 20 Mar 25 1,252.80 1,209.60 43.20 S 1,209.60 S CR9 2,083.32 2,083.32 R. J. Kalas Inc Date Post Ref Debit Credit Balance Item 2,455.92 Mar 3 Mar 13 Mar 18 S6 2,455.92 CR9 2,455.92 S 2,805.84 2,805.84 Thompson Group Date Post Ref Debit Credit Balance Item 1,034.00 3,225.32 Balance 2,191.32 Mar 27 CR9