Glencoe AccountingChapter 14:
Accounting for Sales and Cash ReceiptsHomework PracticeRecording Sales and Sales-Related Transactions Bill Jones Discount had the following sales and sales-related transactions for March of the current year. Instructions 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. |
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