MASTERY PROBLEM During the month of October 20- The Pink Petal flower shop engag

Question

MASTERY PROBLEM During the month of October 20- The Pink Petal flower shop engaged in the Oct.1 Sold merchandise on account to Elizabeth Shoemaker, $1,000, plus tax of 235 LGL S50. Sale No. 222 2 Issued Check No. 190 to Jill Hand in payment of October 1 balance of $500 less 2% discount. 2 Purchased merchandise on account from Flower Wholesalers, $4,000 Invoice No. 500, dated October 2, terms 2/10, n/30. 4 Purchased merchandise on account from Seidl Enterprises, $700. Invoice No. 527, dated October 4, terms 2/15, n/30 5 ssued Check No. 191 in payment of phone expense for the month of September, $150 7 Sold merchandise for cash, $3,500, plus tax of $175 9 Received payment from Leigh Summers in full settlement of account, $2,000. 11 Issued Check No. 192 to Flower Wholesalers in payment of October 1 bal- ance of $1,500. 12 Sold merchandise on account to Leigh Summers, $2,000, plus tax of $100. Sale No. 223, 12 Received payment from Meg Johnson on account, $3,100 13 Issued Check No. 193 to Seidl Enterprises in payment of October 4 purchase. Invoice No. 527, less 2% discount. 14 Meg Johnson returned merchandise for a credit, $300, plus sales tax of $15. 17 Returned merchandise to Vases Etc. for credit, $900 24 Received payment from David's Decorating on account, $2,135. 27 Sold merchandise on account to David's Decorating, $3,000, plus tax of $150. Sale No. 224 29 Issued Check No. 194 in payment of wages (Wages Expense) for the four week period ending October 30, $900 Selected account balances as of October Account Cash Accounts Receivable Accounts Payable The Pink Petal also had the following subsidiary ledger balances as of Accounts Receivable Customer David's Decorating 12 Jude Lane Hartford, CT 06117 1 were as follows: Account No 101 122 202 Debit $18,225 9,619 Credit S5,120 October 1 Accounts Receivable Balance $3,340

Explanation / Answer

Please note: Only relevant columns have been shown in the various journals.

SALES JOURNAL Date Account Debited Invoice Number Accounts Receivable Dr. Sales Cr. Sales Tax Payable Cr. Oct. 1 Elizabeth Shoemaker 222 1050 1000 50 Oct. 12 Leigh Summers 223 2100 2000 100 Oct. 27 David's Decorating 224 3150 3000 150 Oct. 31 Totals 6300 6000 300

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