The following transactions are to be recorded in the Sales Journal of Seymours Ltd. of Squamish, BC using the PDFs found in the "Working Papers" folder in the main menu. (Download the relevant PDFs and complete the following steps using the PDF templates.) Once complete, combine all PDFs into one file and upload it to Practice Question 6.2.1 below.

(a) Set up a Sales Journal (page SJ4) with the following column head­ings: Date, Name of Customer, Invoice No., Terms, Folio, Accounts Receivable Dr., Sales Cr., GST Payable Cr., and PST Payable Cr.

(b) Set up these General Ledger accounts: Accounts Receivable Control, 110; GST Payable, 220; PST Payable, 222; Sales, 401.

Also, open a ledger account for each of these customers: A/R Terri Beadlor, 120; A/R Susan Betle, 121; A/R Betty Grabowski, 122; A/R Lui Hanh, 123; A/R Ahmed Mulla, 124; A/R Marie Nelson, 125; A/R Edna Shultz, 126; A/R Jane Travis, 127; and A/R Alison Wassin, 128.

(c) All sales invoices are to be numbered consecutively, beginning with #80. Customers are allowed 30 days on all credit sales.

(d) Add 5% GST and 7% PST to all sales. The amounts quoted in the transactions represent the value of the goods before taxes.

(e) Record the following sales and post daily to the customers’ accounts.

20—
May 1 Sold merchandise to Lui Hanh, Sales Invoice #80, $210.25.
3 Credit sales: Jane Travis, $267.95; Marie Nelson, $141.60; Alison Wassin, $242.70.
5 Sold merchandise on account to Betty Grabowski, $155.10.
6 Credit sales: Jane Travis, $126.90; Betty Grabowski, $97.20.
8 Sold merchandise on account to Susan Betle, $145.30.
11 Credit sales: Ahmed Mulla, $258.15; Terri Beadlor, $133.50.
15 Credit sales: Alison Wassin, $239.60; Edna Shultz, $366.55; Marie Nelson, $260.
18 Sold goods on account to Lui Hanh, $285.15.
22 Credit sales: Jane Travis, $95.80; Ahmed Mulla, $65.
26 Sold merchandise on credit to Alison Wassin, $211.65.

(f) Prove equal debits and credits.

(g) Enter the totals and rulings.

(h) Post the total of the Accounts Receivable column to the Accounts Receivable Control account. Post the other totals appropriately.

(i) Prepare a trial balance with a schedule of accounts receivable.

Answer rating: 100% (QA)

Answer a The Sales Journal of Seymours Ltd of Squamish BC is set up as follows DateName of CustomerInvoice NoTermsFolioAccounts Receivable DrSales CrG... View the full answer