Record the following transactions of Fashion Park in a general journal. Fashion Park must charge 8 percent

Question:

Record the following transactions of Fashion Park in a general journal. Fashion Park must charge 8 percent sales tax on all sales.
DATE TRANSACTIONS
2019
April 2 Sold merchandise for cash, $2,500 plus sales tax.
3 The customer purchasing merchandise for cash on April 2 returned $250 of the merchandise; provided a cash refund to the customer.
4 Sold merchandise on credit to Jordan Clark; issued Sales Slip 908 for $1,050 plus tax, terms n/30.
6 Accepted return of damaged merchandise from Jordan Clark; issued Credit Memorandum 302 for $150 plus tax. The original sale was made on Sales
Slip 908 of April 4.
30 Received payment on account from Jordan Clark in payment of her purchase of April 4, less the return on April 6.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

College Accounting A Contemporary Approach

ISBN: 978-0077639730

4th edition

Authors: David Haddock, John Price, Michael Farina

Question Posted: