T-Shirt Trends, a retail merchandising business, uses special journals to record its business transactions. Instructions On the
Question:
T-Shirt Trends, a retail merchandising business, uses special journals to record its business transactions.
Instructions
On the forms provided in your working papers:
1. Record the July transactions in the sales journal (page 15), cash receipts journal (page 16), purchases journal (page 15), cash payments journal (page 16), and general journal (page 3).
2. Foot, prove, total, and rule the special journals.
3. Prove cash. The beginning cash in bank balance is $7,500. The check stub balance at the end of the month is $13,409.
Transcribed Image Text:
Date Transactions 2 Sold $500 in merchandise on account to Dave Hioki plus 5% sales tax, Sales Slip 333. 2 Purchased $1,400 in merchandise on account from Cherokee Productions, Inc., Invoice 7001, terms 2/10, n/30. 3 Issued Check 535 for $1,960 in payment of Dancing Wind Clothing Manufacturers $2,000 invoice less a 2% discount. 4 Received $1,764 from Hal's Fitness Studios in payment of our $1,800 invoice less a 2% discount, Receipt 200. 5 Issued Credit Memo 27 to Gabriela Morales for the return of $100 in merchandise plus $5 sales tax. 6 Purchased $2,000 in store equipment on account from Carter Office Supply, Invoice CO123, terms n/30. 6 Received $2,450 from Sandpiper Sports Club in payment of our $2,500 invoice less a 2% discount, Receipt 201. 7 Sold $1,000 in merchandise on account plus 5% sales tax to Virginia Williams, Sales Slip 334. CONTINUE July
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Sales Journal Date Sales Slip Customer Accounts Receivable Sales Sales Tax Payable 2Jul 333 Dave Hio...View the full answer
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