Accounting for Sales and Cash Receipts
Recording Sales and Sales-Related Transactions
Bill Jones Discount had the following sales and sales-related transactions for March of the current year.
Download the general journal form by clicking on Accounting Forms from the Student Center. Record the following transactions.
|March||1||Sold to cash customers, $500 for merchandise and $30 in sales tax.|
| ||8||Sold on account to Sunny Company, $600. Offered a 3%/10, n/30 cash discount.|
| ||9||Sold on account to Whitman Company, $1,000.|
| ||12||Accepted a return of $300 of merchandise from Whitman Company.|
| ||15||Received amount due from Sunny Company.|
| ||20||Sold on account to Peggy Heedy, $300 plus $18 in sales tax.|
| ||25||Peggy Heedy returned $150 of merchandise purchased on March 20.|
| ||29||Peggy Heedy paid balance due from March 20 transaction.|