Recording of Credit Sales
Not what you're looking for?
The following transactions took place at Dave's Wildlife Resort during May. Indicate how these transactions would be entered in a sales journal like the one shown in figure 7.2.
May 1 Sold a tent and other items on credit to Roy Anderson; issued Sales Slip 1101 for $360 plus sales tax of $29.
2. Sold a backpack, an air mattress, and other items to John Amos; issues Sales Slip 1102 for $240 plus sales tax of $19.
3. Sold a lantern, cooking utensils, and other items to Teresa Wells; issued Sales Slip 1103 for $200 plus sales tax of $16.
Purchase this Solution
Solution Summary
The following transactions took place at Dave's Wildlife Resort during May. Indicate how these transactions would be entered in a sales journal like the one shown in figure 7.2.
May 1 Sold a tent and other items on credit to Roy Anderson; issued Sales Slip 1101 for $360 plus sales tax of $29.
2. Sold a backpack, an air mattress, and other items to John Amos; issues Sales Slip 1102 for $240 plus sales tax of $19.
3. Sold a lantern, cooking utensils, and other items to Teresa Wells; issued Sales Slip 1103 for $200 plus sales tax of $16.
Solution Preview
For your convenience, I have attached a formatted MS Excel spreadsheet containing the information below. Feel free to contact me in the future in the event that additional assistance is required.
Recording Credit Sales
The following transactions took place at Dave's Wildlife Resort during May. Indicate how these transactions would be entered in a sales journal like the one shown in figure ...
Purchase this Solution
Free BrainMass Quizzes
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
Basics of corporate finance
These questions will test you on your knowledge of finance.