Question: Enter the following transactions in a sales journal. Use a 5% sales tax rate. Sept. 1Sold merchandise on account to K. Smith, $1,800, plus sales

Enter the following transactions in a sales journal. Use a 5% sales tax rate.

Sept. 1Sold merchandise on account to K. Smith, $1,800, plus sales tax. Sale No. 228.

3 Sold merchandise on account to J. Arnes, $3,100, plus sales tax. Sale No. 229.

5 Sold merchandise on account to M. Denison, $2,800, plus sales tax. Sale No. 230.

7 Sold merchandise on account to B. Marshall, $1,900, plus sales tax. Sale No. 231.

Step by Step Solution

★★★★★

3.31 Rating (177 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

SALE DATE NO TO WHOM SOLD 20 Sept 1 228 K Smith 3 229 ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

73-B-A-M-B (583).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Q:

Enter the following transactions in a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning...

Q:

Enter the following transactions in a general journal: July 6 James Adler made payment on account, $643. 10 Cash sales for the week were $2,320. 14 Betty Havel made payment on account, $430. 15 J. L....

Q:

Enter the following transactions in a general journal. July 6 James Adler made payment on account, $643. 10 Cash sales for the week, $2,320. 14 Betty Havel made payment on account, $430. 15 J. L....

Q:

Journalizing Sales Transactions Enter the following transactions in a sales journal. Use a 5% sales tax rate. Sept. 1 Sold merchandise on account to K. Smith, $1,300, plus sales tax. Sale No. 228. 3...

Q:

chapter 10 Homework #6 Journalizing sales transactions Enter the following transactions in a general journal. Use a 5% sales tax rate. Sept. 1 Sold merchandise on account to K. Smith, $1,800 plus...

Q:

eBook Journalizing Sales Transactions Enter the following transactions in a general journal. Use a 5% sales tax rate. Sept. 1 Sold merchandise on account to A. Allen, $2,600 plus sales tax. Sale No....

Q:

Enter the following transactions in a general journal. Use a 5% sales tax rate. Sept. 1 Sold merchandise on account to K. Smith, $1,800 plus sales tax. Sale No. 228. 3 Sold merchandise on account to...

Q:

Journalizing Sales Transactions Enter the following transactions in a sales journal. Use a 3% sales tax rate Sept. 1 Sold merchandise on account to K. Smith, $1,400, plus sales tax. Sale No. 228 3...

Q:

Prepare a journal entry Enter the following transactions in a general journal. Use a 5% sales tax rate. Sept. 1 Sold merchandise on account to K. Smith, $1,800 plus sales tax. Sale No. 228. 3 Sold...

Q:

Enter the following transactions in a general journal. Use a 5% sales tax rate. Sept. 1 Sold merchandise on account to K. Smith, \$1,500 plus sales tax Sale No, 228. 3 Sold merchandise on account to...

Q:

4G Y a 75 10:24 ... MATHEMATICS O Vo) LT PHYSICS O Exam End Time :01:00 pm CHEMISTRY O Duration : 3:00:00 Time Left : 2:49:15 A uniform meter stick having mass 400 g is suspended from the fixed...

Q:

Who of the Franklin owners, Tom Jefferson and Sam Adams, decided to branch off a side-business to create and operate a new restaurant in town. Sam was in charge of the start-up activities. He had not...

Q:

Which of the following statements is FALSE about the history of Merck & Co . ? Group of answer choices Victrellis is sold by Merck even though the product was developed by Roche Merck and Roche are...

Q:

You wish to evaluate a project requiring an initial investment of $45,000 and having a useful life of 5 years. What minimum amount of annual cash inflow do you need if your firm has an 8% cost of...

Q:

Mark Albin, Roland Peters and Sam Ramsey invested $ 164,000, $ 98,400 and $ 65,600, respectively, in a partnership. During its first calendar year, the firm earned $ 270,000. Required Prepare the...

Q:

Describe the important operating characteristics of a queuing system.

Q:

Cortez Enterprises has two divisions: Birmingham and Tampa. Birmingham currently sells a diode reducer to manufactures of aircraft navigation systems for $775 per unit. Variable costs amount to $500,...

Q:

On November 10, 2015, Lee Co. began operations by purchasing coffee grinders for resale. Lee uses the perpetual inventory method. The grinders have a 60-day warranty that requires the company to...

Q:

Imagine you are in charge of a program in which members are evaluated on five different tests at the end of the program. Why doesnt it make sense to simply compute the average of the five scores as a...

Q:

Describe the entries in the following Taccounts: Cash Bonds Payable Interest Expense (1) 1,000,000 (2) 80,000 (4 2,000 (3) 20,000 (5) 98,000 (6) 20,000 (1) 1,040,00080,000 Premium on Bonds Payable...

Q:

During two consecutive years, Cooper Company, Inc., completed the following transactions: Year 1 Jan. 2 Issued $ 1,000,000 face value, 30-year, 8 percent bonds, dated January 1 of this year, at 97....

Q:

Reed Hotel, Inc., completed the following selected transactions: Year 1 Apr. 1 Issued $ 1,200,000 worth of 30-year, 9 percent bonds, dated April 1 of this year, at 103. Interest is payable...

Q:

Four years ago, you acquired a 30-year loan of $140,100, charging 6.6% annual interest, compounded monthly, and requiring monthly payments. At this time, interest rates on 20-year loans have dropped...

Q:

1. Assume that the readings at freezing on a bundle of thermometers are normally distributed with a mean of 0C and a standard deviation of 1.00C. A single thermometer is randomly selected and tested....

Q:

A project that provides annual cash flows of $15,800 for 8 years costs $84,292 today. Required: (a)If the required return is 8 percent, what is the NPV for this project? (Click to select)...