Ask Experts Questions for FREE Help !
    idavila32's Avatar
    idavila32 Posts: 2, Reputation: 1
    New Member

    Jun 13, 2007, 12:36 PM
    Sales Journal &Cash Recepits Journal
    Record the following transactions in the Sales Journal and Cash Recepits Journals. The cost of all merchandise sold was 70% of the sales price.
    July 2 Sold Merchandise for 21,000 to B.Tate on account. Credit ter,s 2/10, n/30. Sales invoice No. 100

    July 5 Received a check for $800 from R.Hyatt in payment of his account

    July 8 Sold merchandise to F. Wenger for 900 cash

    July 10 Received a check in payment of Sales invoice No. 100 from B. Tate minus 2% discount.

    July 15 Sold Merchandise for 9,000 to J. Mays on account. Credit terms 2/10, n/30 Sales invoice No. 101
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member

    Jun 13, 2007, 02:21 PM
    How do YOU think you would do the journal entries?
    andrew-100983's Avatar
    andrew-100983 Posts: 1, Reputation: 1
    New Member

    Jun 3, 2009, 11:21 PM
    Please help with this question, I'm completely stumped. I have read the text and I just don't understand.

Not your question? Ask your question View similar questions


Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.

Check out some similar questions!

Sales journal Hutton [ 2 Answers ]

Hutton Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursement journal, and a general journal. The following transactions occur in the month of March: Mar. 2 Sold merchandise costing $300 to B. Fager for $450 cash, invoice no. 5703. 5 Purchased $2,300 of...

Sales Journal [ 1 Answers ]

I just need to know if I did this correctly. The directions state that Middleton Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursement journal, and a general journal. Here are the following transactions. 3-2 Sold mdse costing 300 to B fager for 450 cas, invc...

General Journal versus Cash Payment Journal [ 2 Answers ]

I have an ethical issue case I'm working on, but am stuck. I would like to know how would I determine which journal to use say for example, you go on a business trip to Australia and take your spouse along at company expense. Well that is unethical for sure, but you are best friends with the vice...

Cash receipts journal [ 2 Answers ]

OK.. i.m using a cash reciepts journal.. and the transaction is... "recieved cash on account from wayne miller for chairs purchased may 25on s147 for $157.50, less discount (2%)." OK.. i.m so confused.. where does everything go?? Please help..

Cash Payment Journal [ 1 Answers ]

On December 17 On your Mark paid $1,500 to Keystone Insurance company for the premium of on a six month insurance policy, Check 1001. I got the Account name which is Keystone Insurance Company but then I don't know what the $1500 goes in there is General Debit / Credit, Accounts Payable Debit,...

View more questions Search