EuroFashions has two departments: Jewelry and Watches.

Instructions:

1. Journalize the transactions completed during April of the current year. Use page 9 of a sales journal and a general journal and page 12 of a cash receipts journal. EuroFashions offers its customers terms of 2/10, n/30. The sales tax rate is 5%; assume sales tax was paid on all cash and credit card sales. Source documents are abbreviated as follows: credit memorandum, CM; receipt, R; sales invoice, S; terminal summary, TS.

2. Prove and rule the sales journal.

3. Prove and rule the cash receipts journal.

Transcribed Image Text:

Transactions: April 1. Sold jewelry on account to Ronn Hughes, $810.00, plus sales tax. $134. 3. Sold jewelry on account to Dara San, $520.00, plus sales tax. $135. 4. Received cash on account from Bill Melendez for watches purchased on March 27 covering S132 for $441.00, less discount. R83. 4. Recorded cash and credit card sales: jewelry, $2,560.00; watches, $2,130.00; plus sales tax. TS74. 6. Received cash on account from Katie Minko for jewelry purchased on March 29 on S131 for $640.50, less discount. R84. 8. Granted credit to Dara San for jewelry returned, $110.00, plus sales tax, from $135. CM28. 9. Received cash on account from Dara San for a watch purchased on March 3 for $302.40, less discount. R85. 11. Received cash on account from Ronn Hughes for jewelry purchased on April 1 on S134 for $850.50, less discount. R86. 11. Sold jewelry on account to Dan Tran, $780.00, plus sales tax. $136. 11. Recorded cash and credit card sales for the week: jewelry, $5,340.00; watches, $3,910.00; plus sales tax. TS75.