Listed below are selected transactions of Blue Department Store for the current year ending December 31. On December 5, the store received $5.30 from the Selig Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15 1 2 3. During December, cash sales totaled $805.350, which includes the 5% sales tax that must be remitted to the state by the fifteenth day of the following month On December 10, the store purchased for cash three delivery trucks for $122.200. The trucks were purchased in a state that

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.