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  • Nov 20, 2007, 01:56 PM
    KrystalLea
    Cash sales : summary entry
    Can someone please help with summary entrys?


    Cash sales for the week ( Jan 2-3 ) totaled $7000. The gross profit rate on these
    Sales averaged 40 %. Make a summary entry .
  • Apr 16, 2008, 09:58 PM
    pkalijkar
    Quote:
    Originally Posted by KrystalLea
    Can someone please help with summary entrys ? ? ?


    Cash sales for the week ( Jan 2-3 ) totaled $7000. The gross profit rate on these
    sales averaged 40 %. Make a summary entry .
    Cash a/c debit 575
    Sales a/cl cr 575

    Inventry a/c dr 6435
    Cost of goods sold a/c cr 6435

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