GENERAL LEDGER ACCOUNTS $15,600 Dr 101 Cash 109 Notes Receivable 111 Accounts Re
ID: 2575613 • Letter: G
Question
GENERAL LEDGER ACCOUNTS $15,600 Dr 101 Cash 109 Notes Receivable 111 Accounts Receivable 401 Sales 451 Sales Returns and Allowances 452 Sales Discounts 20,200 Dr. DATE TRANSACTIONS April 1 Sold merchandise for $3,100 to Soprano Music Center; issued Invoice 9312 with terms of 2/10, n/30. March 25 ($2,400), less a cash discount ($48) credit. 2/10, n/30 ($3,100, less a cash discount ($62). Memorandum 105 for $720; the original sale was made on Invoice 9313 of April 8 terms of 2/10, n/30. 3 Received a check for $2,352 from Music Supply Store in payment of Invoice 6718 of 5 Sold merchandise for $1,375 in cash to a new customer who has not yet established 8 Sold merchandise for $3,700 to Music Warehouse, issued Invoice 9313 with terms of 10 Soprano Music Center sent a check for $3,038 in payment of Invoice 9312 of April 1 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit 19 Sold merchandise for $9,700 to Eagleton Music Center; issued Invoice 9314 with 23 Collected $2,775 from Sounds From Yesterday for Invoice 6725 of March 25 26 Accepted a two-month promissory note for 4,700 from Country Music Store in 28 Received a check for $9,506 from Eagleton Music Center in payment of Invoice 9314, 30 Sold merchandise for $9,000 to Contemporary Sounds, Inc. issued Invoice 9315 with settlement of its overdue account; the note has an interest rate of 12 percent. dated April 19 ($9,700), less a cash discount ($194) terms of 2/10, n/30Explanation / Answer
Cash Account No: 101 Notes Receivable Account No: 109 Date Debit Credit Balance Date Debit Credit Balance Apr 01, 2019 15600 Apr 26, 2019 4700 4700 Apr 03, 2019 2352 17952 Apr 05, 2019 1375 19327 Apr 10, 2019 3038 22365 Apr 23, 2019 2775 25140 Apr 28, 2019 9506 34646 Accounts Receivable Account No: 111 Sales Account No: 401 Date Debit Credit Balance Date Debit Credit Balance Apr 01, 2019 20200 Apr 01, 2019 3100 3100 Apr 01, 2019 3100 23300 Apr 05, 2019 1375 4475 Apr 03, 2019 2400 20900 Apr 08, 2019 3700 8175 Apr 08, 2019 3700 24600 Apr 19, 2019 9700 17875 Apr 10, 2019 3100 21500 Apr 30, 2019 9000 26875 Apr 15, 2019 720 20780 Apr 19, 2019 9700 30480 Apr 23, 2019 2775 27705 Apr 26, 2019 4700 23005 Apr 28, 2019 9700 13305 Apr 30, 2019 9000 22305 Sales Returns and Allowances Account No: 451 Sales Discounts Account No: 452 Date Debit Credit Balance Date Debit Credit Balance Apr 15, 2019 720 720 Apr 03, 2019 48 48 Apr 10, 2019 62 110 Apr 28, 2019 194 304 SALES JOURNAL Date Invoice No. Customer's Name Accounts receivable Dr./Sales Cr. Apr 01, 2019 9312 Soprano Music Center 3100 Apr 08, 2019 9313 Music Warehouse 3700 Apr 19, 2019 9314 Eagleton Music Center 9700 Apr 30, 2019 9315 Contemporary Sounds, Inc. 9000 Apr 30, 2019 Total 25500 CASH RECEIPTS JOURNAL Date Description Accounts Receivable Cr. Sales Cr. Other Accounts Cr. Sales Discount Dr. Cash Dr. Account Name Amount Apr 03, 2019 Music Supply Store 2400 48 2352 Apr 05, 2019 Cash sales 1375 1375 Apr 10, 2019 Soprano Music Center 3100 62 3038 Apr 23, 2019 Sounds From Yesterday 2775 2775 Apr 28, 2019 Eagleton Music Center 9700 194 9506 Apr 30, 2019 Totals 17975 1375 304 19046
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