During the month of September, the following transactions occurred. The applicable sales tax rate is 6%. Sept. 2 Sold merchandise on account to Sam Larson, $1,400, plus sales tax. 7 Sold merchandise on account to David Mitchell, $1,900, plus sales tax. 12 Issued credit memorandum to Sam Larson for $689, including sales tax of $39. 22 Sold merchandise on account to Matt Feustal, $500, plus sales tax. 28 Sold merchandise on account to Ana Cardona, $850, plus sales tax. Enter the transactions in the general journal. If an amount box does not require an entry, leave it blank. Page: 1

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

During the month of September, the following transactions occurred. The applicable sales tax rate is 6%.

Sept.   2   Sold merchandise on account to Sam Larson, $1,400, plus sales tax.
    7   Sold merchandise on account to David Mitchell, $1,900, plus sales tax.
   12   Issued credit memorandum to Sam Larson for $689, including sales tax of $39.
   22   Sold merchandise on account to Matt Feustal, $500, plus sales tax.
  28   Sold merchandise on account to Ana Cardona, $850, plus sales tax.

Enter the transactions in the general journal. If an amount box does not require an entry, leave it blank.

Page: 1

POST.
DATE
DESCRIPTION
DEBIT CREDIT
REF.
1
Sept. 2
1
3
3
4
Sept. 7
4
7
Sept. 12
7
8
8
9.
9.
10 Sept. 22
10
11
11
12
12
13 Sept. 28
13
14
14
15
15
Transcribed Image Text:POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 Sept. 2 1 3 3 4 Sept. 7 4 7 Sept. 12 7 8 8 9. 9. 10 Sept. 22 10 11 11 12 12 13 Sept. 28 13 14 14 15 15
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Trade Credit
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education