This a 3 part question a journal, ledger and analysis. I answered all parts but
ID: 2526847 • Letter: T
Question
This a 3 part question a journal, ledger and analysis. I answered all parts but the analyze. Could you please check it and correct what's wrong?
nce Siore began operations March 1, 2019. The firm sells its merchandise for cash and on open account. Sa ent saies tax. During March, The Appliance Store engaged in the following transactions TRANSACTIONS Sold merchandise on credit to Dave Allen: issued Sales Slip 101 for $550 plus sales tax of $33 Sold?_rchandise on credit to Castor Phan; issued Sales Slip 102 for $900 plus sales tax of $54 Sold merchandise on credit to Chris Hughes: issued Sales Slip 103 for $1,150 plus sales tax of $69. Recorded cash sales for the period from March 1 to March 15 of $7,200 plus sales tax of $432. Sold merchandise on credit to Brian Cooley: issued Sales slip 104 for s850 plus sales tax of $51 Received a check from Castor Phan of $180 to apply toward his account. Recorded cash sales Eor the period from March 16 to March 31 of $4,100 plus sales tax of $246. 1 1 Received payment in full from Dave Allen for the sale of March 1 rd the transactions in a general journal. entries from the general journal to the appropriate general ledger accounts LEDGER ACCOUNTS ash ccounts Receivable 221 Sales Tax Payable 401 Sales re the total cash receipts during March?Explanation / Answer
Total cash receipts = 7200+4100+550+180 = $12030
general ledgers :
Cash = 7632+180+4346+583 = $12741
credit = 583+954+1150+69+850+51-180-583=$ 2894
Sales tax = =33+54+69+432+51+246= $ 885
Sales = 550+900+1150+7200+850+4100 = $ 14750
On march 01 sales tax payable = $ 33
On march 15 sales to be credited for $7200
Related Questions
Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.