Use the following sales journal to record the transactions. All credit sales are terms of n/30. (If a box is not used in the journal leave the box empty; do not select information or enter a zero. i (Click the icon to view the transactions.) Date 2024 Jun. Invoice No. Account Debited Customer More info Jun. 1 Jun. 8 Jun. 13 Jun. 28 Sales Journal Post. Ref. Accounts Receivable DR Sales Revenue CR Page 1 Cost of Goods Sold DR Merchandise Inventory CR Sold merchandise inventory on account to Ford Junk, $1,250. Cost of goods, $960. Invoice no. 101. Sold merchandise inventory on account to Iris Fray, $2,250. Cost of goods, $1,650. Invoice no. 102. - X Sold merchandise inventory on account to Jack Tremane, $400. Cost of goods, $240. Invoice no. 103. Sold merchandise inventory on account to Gail White, $810. Cost of goods, $650. Invoice no. 104. C

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Review the sales journal below. (Click the icon to view the sales journal.) Read the requirements. Requirement 1. Total each column of the sales journal. Date 2024 Jun. Jun. 1 8 101 Fletcher Jay 102 Iliana Flower 13 103 Jesse Thomas 28 104 George Westerberg 30 Totals 1. 2. Invoice No. Requirements 3. 4. Customer Account Debited Sales Journa Post. Accounts Receivable DR Ref. Sales Revenue CR Total each column of the sales journal. The following four-column accounts in the accounts receivable subsidiary ledger have been opened for you: Accounts Receivable-Flower; Accounts Receivable Jay; Accounts Receivable-Thomas; Accounts Receivable-Westerberg. Post the transactions to the accounts receivable subsidiary ledger. 1,260 2,225 360 900 Print The following selected four-column accounts in the general ledger have been opened for you: Accounts Receivable (112); Merchandise Inventory (118), Bal. $4,800; Sales Revenue (411); Cost of Goods Sold (511). Post the total of each column to the general…

Select a description for each transaction recorded in the following T accounts: Cash (c) 5,042.10        Accounts Receivable (a) 5,320  (b)    175     (c) 5,145   Sales     (a) 5,320   Sales Returns andAllowances (b) 175        Sales Discounts (c) 102.90      descriptions available: Issued credit memo for merchandise returned or as an allowance for damaged merchandise. Received check from customer for amount paid within the discount period less the return. Sold merchandise for cash. Sold merchandise on account. Sold supplies for cash.

Direct Write-Off Method Williams & Hendricks Distributors uses the direct write-off method in accounting for uncollectible accounts. 20-1 Feb. Sold merchandise on account to Merry Merchants, $17,500. 18 Mar. Sold merchandise on account to Utter Unicorns, $14,300. 22 June Received $10,000 from Merry Merchants and wrote off the remainder owed on the 3 sale of February 18 as uncollectible. Received $8,000 from Utter Unicorns and wrote off the remainder owed on the sale Sept. of March 22 as uncollectible. Nov. Reinstated the account of Merry Merchants, which had been written off on June 3, 13 and received $7,500 cash in full settlement. 20-2 Jan. Reinstated the account of Utter Unicorns, which had been written off on September 9 of the previous year, and received $6,300 cash in full settlement. 17

The accounting system of B. Ellen includes a sales journal, a purchases journal, a cash receipts journal, a cash payments journal and a general journal. The chart of accounts shows the following titles. Sales Returns and Allowances I Discount Received 100 Cash at Bank 410 I 110 I Accounts Receivable Control 1 420 --- --- i Prepaid Insurance Office Equipment i Accounts Payable Control Loan Payable I 115 1 500 i Purchases 150 503 Purchases Returns i Discount Allowed Rent Expense Insurance Expense 570 Sundry Expenses I 201 i 510 210 550 B. Ellen, Capital I 400 1 300 560 Sales During July, the transactions were as follows (ignore GST). July' 3 I Borrowed $35,000 from a bank. ---- .-. Purchased inventory on credit from Kelly Ltd. $4400, Invoice 312, terms 1/10, n/30 18 Sold inventory on credit to Leschev Ltd, $4500, terms 2/20, n/60, invoice 532 Received a credit note from Kelly Ltd. for inventory returned due to a defective unit i purchased on 6 July, $250 12 Issued a cheque (cheque no.…

Journalizing Purchases Returns and Allowances and Posting to General Ledger and Accounts Payable Ledger Transactions for July and the beginning balances for selected general ledger and accounts payable ledger accounts are shown. July 7 Returned merchandise to Starcraft Industries, $750. 15 Returned merchandise to XYZ, Inc., $530. 27 Returned merchandise to Datamagic, $820. General Ledger Account No. Account Balance July 1, 20-- 202 Accounts Payable $10,640 501.1 Purchases Returns and Allowances Accounts Payable Ledger Name Balance July 1, 20-- Datamagic $2,680 Starcraft Industries 4,310 XYZ, Inc. 3,650 Required: Using page 3 of a general journal and the general ledger accounts and accounts payable ledger accounts, journalize and post the transactions. GENERAL JOURNAL PAGE 3 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Jul. 7 Jul. 15 Jul. 27 GENERAL LEDGER ACCOUNT Accounts Payable ACCOUNT NO. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jul. 1 Balance 10,640.00

Accounting Question

ACCOUNTS RECEIVABLE LEDGER NAME: E. McKenzie ADDRESS: 4717 Erin St, Madison, WI 53713 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20--   Aug. 3   J60 3,816.00   3,816.00 Aug. 18   J60 4,589.80   fill in the blank 1     J60   105.00 fill in the blank 2   ACCOUNTS RECEIVABLE LEDGER NAME: S. Rottier ADDRESS: 1008 S. 9TH St, Monona, WI 53715 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20--   Aug. 7   J60 1,484.00   1,484.00 Aug. 10   J60   400.00 fill in the blank 3   ACCOUNTS RECEIVABLE LEDGER NAME: L. Franklin ADDRESS: 2815 Main St, Cottage Grove, WI 53711 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20--   Aug. 1   J60 1,272.00   1,272.00 Aug. 22   J60 2,120.00   fill in the blank 4   Using the information from the ledgers, prepare a schedule of accounts receivable as of August 31. If required, round your intermediate and final answers to the nearest cent. Willis Spas and PoolsSchedule of Accounts ReceivableAugust 31, 20-- E. McKenzie   $fill…

PA4. Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable.