April 1 Sold merchandise for $3,500 to Soprano Music Center; issued Invoice 9312 with terms of...
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April 1 Sold merchandise for $3,500 to Soprano Music Center; issued Invoice 9312 with terms of 2/10, n/30. 3 Received a check for $2,156 from Music Supply Store in payment of Invoice 6718 of March 25 ($2,200), less a cash discount ($44). 5 Sold merchandise for $1,475 in cash to a new customer who has not yet established credit. 8 Sold merchandise for $4,100 to Music Warehouse; issued Invoice 9313 with terms of 2/10, n/30. 10 Soprano Music Center sent a check for $3,430 in payment of Invoice 9312 of April 1 ($3,500), less a cash discount ($70). 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 105 for $760; the original sale was made on Invoice 9313 of April 8. 19 Sold merchandise for $10, 100 to Eagleton Music Center; issued Invoice 9314 with terms of 2/10, n/30. 23 Collected $2,875 from Sounds From Yesterday for Invoice 6725 of March 25. 26 Accepted a two-month promissory note for $5,100 from Country Music Store in settlement of its overdue account; the note has an interest rate of 12 percent. 28 Received a check for $9,898 from Eagleton Music Center in payment of Invoice 9314, dated April 19 ($10,100), less a cash discount ($202). 30 Sold merchandise for $9,400 to Contemporary Sounds, Inc.; issued Invoice 9315 with terms of 2/10, n/30. Required: 1. Open the general ledger accounts and enter the balances as of April 1, 20X1. 2. Record the transactions in a sales journal, a cash receipts journal, and a general journal. 3. Post the entries from the general journal to the general ledger. 4. Post the column totals from the special journals to the proper general ledger accounts. 5. Prepare the heading and the Revenue section of the firm's income statement for the month ended April 30. Analyze: What total sales on account were made in the month of April prior to any returns or allowances? General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Post the opening balances and transactions into the appropriate ledger accounts. Cash Account No: 101 Date Debit Credit Balance Apr 01, 20X1 Accounts Receivable Date Apr 01, 2019 Notes Receivable Date Account No: 109 Debit Credit Balance Account No: 111 Sales Account No: 401 Debit Credit Balance Date Debit Credit Balance Sales Returns and Allowances Account No: 451 Sales Discounts Account No: 452 Date Debit Credit Balance Date Debit Credit Balance General Ledgers Sales Journal > < Prev 2 of 4 Nex Next > MacBook Air Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Cash Receipts General Journal Income Statement Ana Record the transactions in a sales journal as of April 20X1. SALES JOURNAL Date Invoice No. Customer's Name Accounts receivable Dr./Sales Cr. Apr 30, 20X1 Total $ 0 < General Ledgers Cash Rec What total sales on account were made in the month of April prior to any returns or allowances? Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Record the transactions in a cash receipts journal as of April 20X1. CASH RECEIPTS JOURNAL Accounts Other Accounts Credit Sales Date Description Receivable Sales Credit Credit Discount Cash Debit Account Name Amount Debit Apr 30, 2019 Totals $ 0 $ 0 $ 0 $ 0 < Sales Journal General Journal > < Prev 2 of 4 Next > MacBook Air General Ledgers General Sales Journal Cash Receipts Journal Income. Statement Analyze Record the transactions in a general journal as of April 20X1. View transaction list Journal entry worksheet 1 2 Record the return of damaged merchandise, Credit Memo 105, sale originally made on Invoice 9313 from April 8. Note: Enter debits before credits. Date Apr 15, 20X1 General Journal Debit Credit Record entry Clear entry View general journal < Prev 2 of 4 Next > Complete this question by entering your answers in the tabs bel General Ledgers General Sales Journal Cash Receipts Journal Income Statement Prepare the heading and the Revenue section of the firm's income statem AWESOME SOUNDS Partial Income Statement Month Ended April 30, 20X1 Revenue Net sales 0 < General Journal Ana Analyze: What total sales on account were made in the month of April pri Complete this question by entering your answers in the ta General Ledgers General Incom Sales Journal Cash Receipts Journal Stateme What total sales on account were made in the month of April prior Total sales on account prior to returns or allowances < Income Statement Droy April 1 Sold merchandise for $3,500 to Soprano Music Center; issued Invoice 9312 with terms of 2/10, n/30. 3 Received a check for $2,156 from Music Supply Store in payment of Invoice 6718 of March 25 ($2,200), less a cash discount ($44). 5 Sold merchandise for $1,475 in cash to a new customer who has not yet established credit. 8 Sold merchandise for $4,100 to Music Warehouse; issued Invoice 9313 with terms of 2/10, n/30. 10 Soprano Music Center sent a check for $3,430 in payment of Invoice 9312 of April 1 ($3,500), less a cash discount ($70). 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 105 for $760; the original sale was made on Invoice 9313 of April 8. 19 Sold merchandise for $10, 100 to Eagleton Music Center; issued Invoice 9314 with terms of 2/10, n/30. 23 Collected $2,875 from Sounds From Yesterday for Invoice 6725 of March 25. 26 Accepted a two-month promissory note for $5,100 from Country Music Store in settlement of its overdue account; the note has an interest rate of 12 percent. 28 Received a check for $9,898 from Eagleton Music Center in payment of Invoice 9314, dated April 19 ($10,100), less a cash discount ($202). 30 Sold merchandise for $9,400 to Contemporary Sounds, Inc.; issued Invoice 9315 with terms of 2/10, n/30. Required: 1. Open the general ledger accounts and enter the balances as of April 1, 20X1. 2. Record the transactions in a sales journal, a cash receipts journal, and a general journal. 3. Post the entries from the general journal to the general ledger. 4. Post the column totals from the special journals to the proper general ledger accounts. 5. Prepare the heading and the Revenue section of the firm's income statement for the month ended April 30. Analyze: What total sales on account were made in the month of April prior to any returns or allowances? General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Post the opening balances and transactions into the appropriate ledger accounts. Cash Account No: 101 Date Debit Credit Balance Apr 01, 20X1 Accounts Receivable Date Apr 01, 2019 Notes Receivable Date Account No: 109 Debit Credit Balance Account No: 111 Sales Account No: 401 Debit Credit Balance Date Debit Credit Balance Sales Returns and Allowances Account No: 451 Sales Discounts Account No: 452 Date Debit Credit Balance Date Debit Credit Balance General Ledgers Sales Journal > < Prev 2 of 4 Nex Next > MacBook Air Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Cash Receipts General Journal Income Statement Ana Record the transactions in a sales journal as of April 20X1. SALES JOURNAL Date Invoice No. Customer's Name Accounts receivable Dr./Sales Cr. Apr 30, 20X1 Total $ 0 < General Ledgers Cash Rec What total sales on account were made in the month of April prior to any returns or allowances? Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Record the transactions in a cash receipts journal as of April 20X1. CASH RECEIPTS JOURNAL Accounts Other Accounts Credit Sales Date Description Receivable Sales Credit Credit Discount Cash Debit Account Name Amount Debit Apr 30, 2019 Totals $ 0 $ 0 $ 0 $ 0 < Sales Journal General Journal > < Prev 2 of 4 Next > MacBook Air General Ledgers General Sales Journal Cash Receipts Journal Income. Statement Analyze Record the transactions in a general journal as of April 20X1. View transaction list Journal entry worksheet 1 2 Record the return of damaged merchandise, Credit Memo 105, sale originally made on Invoice 9313 from April 8. Note: Enter debits before credits. Date Apr 15, 20X1 General Journal Debit Credit Record entry Clear entry View general journal < Prev 2 of 4 Next > Complete this question by entering your answers in the tabs bel General Ledgers General Sales Journal Cash Receipts Journal Income Statement Prepare the heading and the Revenue section of the firm's income statem AWESOME SOUNDS Partial Income Statement Month Ended April 30, 20X1 Revenue Net sales 0 < General Journal Ana Analyze: What total sales on account were made in the month of April pri Complete this question by entering your answers in the ta General Ledgers General Incom Sales Journal Cash Receipts Journal Stateme What total sales on account were made in the month of April prior Total sales on account prior to returns or allowances < Income Statement Droy
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
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