Assignment
Part 1 (8 points):
Record the following transactions on Page 12 of a sales journal (sales journal spreadsheet template is provided below).
Mar 7 |
Sold merchandise on account to Sampson High School for $2,000; Sales Slip 350. (The school is exempt from sales tax). |
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12 |
Sold merchandise on account to Carl Mayo for $850 plus $51 sales tax, Sales Slip 351 |
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17 |
Sold merchandise on account to Molly Smith for $600 plus $36 sales tax, Sales Slip 352 |
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30 |
Sold merchandise on account to Hampton School District for $3,700, Sales Slip 353 (tax exempt) |
Use this Sales Journal template
Part 2 (10 points):
Post the transactions in the sales journal used in Part 1 to subsidiary ledger accounts (individual charge customer ledger accounts—a form is provided below). Then total the columns in the sales journal used in Part 1 for the month of March and post the totals from the sales journal columns to the ledger accounts labeled: Accounts Receivable, Sales Tax Payable, and Sales (ledger forms are provided below).
Use these subsidiary and general ledger forms
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