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Journalize the following transactions completed during October of the current year. Use page 11 of a sales journal, purchases journal, general journal, and cash receipts journal. Use page 21 of a cash payments journal. Add an 8% sales tax to all sales transactions. Source documents are abbreviated as follows: chels, C; memorandum, M; purchase invoice, P; receipt, R; sales invoice,

S; terminal summary, TS. (ON MICROSOFT EXCEL).

11-7 CHALLENGE PROBLEM Journalizing and posting business transactions The general, accounts payable, and accounts recelvable ledgers for Custom Golf Land are given in the Working Papers. Instructions: 1. Journalize the following transactions completed during October of the current year. Use page 11 of a sales journal. purchases journal, general journal, and cash receipts journal. Use page 21 of a cash payments journal. Add an 8% sales tax to all sales transactions. Source documents are abbreviated as follows: che s, C : memorandum, M; purchase involce, P: recelpt, R: sales invoice, S: terminal summary. TS. Transactions: Oct. 2. Wrote a check for rent, \$1,150.00. C265. 3. Received an involce from Vista Golf Co. for merchandise purchased on account. $1.950.00.P71. 4. Paid for merchandise, $142.80. C266. 6. A check was recelved in payment on accotht from Viola Davis, \$829.44. covering S45. R43. 7. Eagle Golf Equipment was paid on account, \$2,358.00, covering P67, C267. 7. Cash and credit card sales, $5,676.00. TS31. Posting. Post the items that are to be posted individually. 11. Merchandise was sold on account to Doris McCarley, $306.00. S49. 13. Store supplies were bought on account from Golf Source, $258.00. M34. 14. Cash and eredit card sales, $5,808,00. TS 92. Posting. Post the items that are to be posted individually. 17. Wrote a check for electric bill, $220.20. C268. 20. Wrote a check to Vista Golf Co. on account, $3.216.00, less 2% discount, covering P68. C269. 21. Recorded cash and credit card sales, $5,376.00. TS33, Posting. Post the items that are to be posted individually. 23. Design Golf was paid on account, $2,916.00, covering P69. C270. 24. Barry Fuller bought merchandise on account, $1,315.00. $50, 24. Recelved payment on account from Leona Silva, \$285.12, covering S46. R44. Posting to General and Subsidiary Ledgers Chapter 11333

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