On 9 February, Simmons Toy Shop made a ($ 198) cash sale including GST of merchandise to
Question:
On 9 February, Simmons Toy Shop made a \(\$ 198\) cash sale including GST of merchandise to a customer. The business uses a perpetual inventory system; the merchandise had cost Simmons Toy Shop \$110. On 12 February, the customer was given a sales allowance of \(\$ 55\) cash including GST for a defective item that the customer chose to keep.
Required:
a Prepare account column entries to record this information.
b What source documents would be used to record each transaction?
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a Account column entries to record the transactions a February 9 Cash Debit 198 Sales Revenue ...View the full answer
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Related Book For 
Accounting Information For Business Decisions
ISBN: 9780170253703
2nd Edition
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons
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