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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 29
Recording sales and cash receipts for a retail store.
Amanda's Appliances began operations March 1, 2013. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During March, Amanda's Appliances engaged in the following transactions:
INSTRUCTIONS
1. Open the general ledger accounts indicated below.
2. Record the transactions in a general journal. Use 1 as the journal page number.
3. Post the entries from the general journal to the appropriate general ledger accounts.
GENERAL LEDGER ACCOUNTS
Analyze: What were the total cash receipts during March?
Amanda's Appliances began operations March 1, 2013. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During March, Amanda's Appliances engaged in the following transactions:
INSTRUCTIONS
1. Open the general ledger accounts indicated below.
2. Record the transactions in a general journal. Use 1 as the journal page number.
3. Post the entries from the general journal to the appropriate general ledger accounts.
GENERAL LEDGER ACCOUNTS
Analyze: What were the total cash receipts during March?
Explanation
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Recording sale made on account with a sa...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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