Using T accounts for Cash, Accounts Receivable, Sales Tax Payable, Sales, Sales Returns and Allowances, and Sales Discounts, enter the following sales transactions. 1. no sales tax       (a) Merchandise is sold for $230 cash.   (b) Merchandise is sold on account for $220.   (c) Payment is received for merchandise sold on account.     2.   6% sales tax.(a) Merchandise is sold for $230 cash plus sales tax.(b) Merchandise is sold on account for $220 plus sales tax.(c) Payment is received for merchandise sold on account.      3. Cash and credit sales, with returned merchandise.   (a) Merchandise is sold for $498 cash.   (b) $14 of merchandise sold for $498 is returned for a refund.   (c) Merchandise is sold on account for $400.   (d) $27 of merchandise sold for $400 is returned for a credit.   (e) Payment is received for balance owed on merchandise sold on account.

Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: a.  Sold merchandise for cash, $22,060. The cost of the merchandise sold was $13,240. (Record the sale first.)     fill in the blank 36fbb5ffffdef81_2 fill in the blank 36fbb5ffffdef81_3     fill in the blank 36fbb5ffffdef81_5 fill in the blank 36fbb5ffffdef81_6     fill in the blank 36fbb5ffffdef81_8 fill in the blank 36fbb5ffffdef81_9     fill in the blank 36fbb5ffffdef81_11 fill in the blank 36fbb5ffffdef81_12 b.  Sold merchandise on account, $13,920. The cost of the merchandise sold was $8,350. (Record the sale first.)     fill in the blank e95153f82fd6002_2 fill in the blank e95153f82fd6002_3     fill in the blank e95153f82fd6002_5 fill in the blank e95153f82fd6002_6     fill in the blank e95153f82fd6002_8 fill in the blank e95153f82fd6002_9     fill in the blank e95153f82fd6002_11 fill in the blank e95153f82fd6002_12…

Enter the following transactions in the appropriate journal (purchases journal and cash payment journal) *October 11 Purchased merchandise from Lafferty Company, $500 on account, credit terms 1/15, n/45. Invoice No. 65.  *15 Purchased merchandise from Alsted, Inc., $400 cash. Check No. 751. * 21 Paid amount due Lafferty Company, less discount. Check No. 752.

Record the following transactions on the books of Cheyenne Corp. (a)   On July 1, Cheyenne Corp. sold merchandise on account to Waegelein Inc. for $17,400, terms 2/10, n/30. (b)   On July 8, Waegelein Inc. returned merchandise worth $4,800 to Cheyenne Corp.. (c)   On July 11, Waegelein Inc. paid for the merchandise.

Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: Question Content Area a.  Sold merchandise for cash, $20,280. The cost of the merchandise sold was $12,170. (Record the sale first.) blank   - Select - - Select -     - Select - - Select - blank   - Select - - Select -     - Select - - Select -   Question Content Area b.  Sold merchandise on account, $8,130. The cost of the merchandise sold was $4,880. (Record the sale first.) blank   - Select - - Select -     - Select - - Select - blank   - Select - - Select -     - Select - - Select -   Question Content Area c.  Sold merchandise to customers who used MasterCard and VISA, $122,860. The cost of the merchandise sold was $73,720. (Record the sale first.) blank   - Select - - Select -     - Select - - Select - blank   - Select - - Select -     - Select - - Select -   Question…

Consider the following transactions of Johnson Software: Mar. 31 Apr. 6 Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Recorded cash sales of $160,000, plus sales tax of 7% collected for the state of New Jersey. Sent March sales tax to the state. Mar. 31: Recorded cash sales of $160,000, plus sales tax of 7% collected for the state of New Jersey. (Prepare a single compound entry for this transaction.) Accounts and Explanation Date Mar. 31 Debit Credit