Sales and Cash Receipts Transactions

Sourk Distributors is a retail business. The following sales, returns, and cash receipts occurred during March 20--. There is an 8% sales tax.

Mar. 1	Sale on account No. 33C to Donachie & Co., $1,900 plus sales tax.
3	Sale on account No. 33D to R. J. Kibubu, Inc., $2,170 plus sales tax.
5	Donachie & Co. returned merchandise from Sale No. 33C for a credit (Credit Memo No. 66), $40 plus sales tax.
7	Cash sales for the week were $3,200 plus sales tax.
10	Received payment from Donachie & Co. for Sale No. 33C less Credit Memo No. 66.
11	Sale on account No. 33E to Eck Bakery, $1,190 plus sales tax.
13	Received payment from R. J. Kibubu for Sale No. 33D.
14	Cash sales for the week were $3,700 plus sales tax.
16	Eck Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $31 plus sales tax.
18	Sale on account No. 33F to R. J. Kibubu, Inc., $2,650 plus sales tax.
20	Received payment from Eck Bakery for Sale No. 33E less Credit Memo No. 67.
21	Cash sales for the week were $2,520 plus sales tax.
25	Sale on account No. 33G to Eck Bakery, $2,000 plus sales tax.
27	Sale on account No. 33H to Whitaker Group, $2,110 plus sales tax.
28	Cash sales for the week were $3,450 plus sales tax.

1. Record the transactions in the general journal. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Do not enter the posting references until you complete part 2.

GENERAL JOURNAL				PAGE 7
DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
20--
Mar. 1	Accounts Receivable/Donachie & Co.	122/
	Sales	401
	Sales Tax Payable	231
Mar. 3	Accounts Receivable/R. J. Kibubu, Inc.	122/
	Sales	401
	Sales Tax Payable	231
Mar. 5	Sales Returns and Allowances	401.1
	Sales Tax Payable	231
	Accounts Receivable/Donachie & Co.	122/
Mar. 7	Cash	101
	Sales	401
	Sales Tax Payable	231
Mar. 10	Cash	101
	Accounts Receivable/Donachie & Co.	122/
Mar. 11	Accounts Receivable/Eck Bakery	122/
	Sales	401
	Sales Tax Payable	231
Mar. 13	Cash	101
	Accounts Receivable/R. J. Kibubu, Inc.	122/

GENERAL JOURNAL				PAGE 8
DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
20--
Mar. 14	Cash	101
	Sales	401
	Sales Tax Payable	231
Mar. 16	Sales Returns and Allowances	401.1
	Sales Tax Payable	231
	Accounts Receivable/Eck Bakery	122/
Mar. 18	Accounts Receivable/R. J. Kibubu, Inc.	122/
	Sales	401
	Sales Tax Payable	231
Mar. 20	Cash	101
	Accounts Receivable/Eck Bakery	122/
Mar. 21	Cash	101
	Sales	401
	Sales Tax Payable	231
Mar. 25	Accounts Receivable/Eck Bakery	122/
	Sales	401
	Sales Tax Payable	231
Mar. 27	Accounts Receivable/Whitaker Group	122/
	Sales	401
	Sales Tax Payable	231

GENERAL JOURNAL				PAGE 9
DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
20--
Mar. 28	Cash	101
	Sales	401
	Sales Tax Payable	231

2. Beginning general ledger account and customer account balances have been entered below. Post from the journal to the general ledger and accounts receivable ledger accounts. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. After posting to the general ledger, go to part 1 and complete the posting.

GENERAL LEDGER
ACCOUNT	Cash				ACCOUNT NO.	101
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Mar. 1	Balance				9,526
Mar. 7		J7
Mar. 10		J7
Mar. 13		J7
Mar. 14		J8
Mar. 20		J8	1,251.72		22,582.12
Mar. 21		J8
Mar. 28		J9

ACCOUNT	Accounts Receivable				ACCOUNT NO.	122
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Mar. 1	Balance				1,043
Mar. 1		J7
Mar. 3		J7
Mar. 5		J7
Mar. 10		J7
Mar. 11		J7	1,285.2		4,671.8
Mar. 13		J7
Mar. 16		J8
Mar. 18		J8
Mar. 20		J8
Mar. 25		J8	2,160		6,065
Mar. 27		J8

ACCOUNT	Sales Tax Payable				ACCOUNT NO.	231
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Mar. 1		J7
Mar. 3		J7
Mar. 5		J7
Mar. 7		J7
Mar. 11		J7		95.2		673.6
Mar. 14		J8
Mar. 16		J8
Mar. 18		J8
Mar. 21		J8
Mar. 25		J8		160		1,540.72
Mar. 27		J8
Mar. 28		J9

ACCOUNT	Sales				ACCOUNT NO.	401
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Mar. 1		J7
Mar. 3		J7
Mar. 7		J7
Mar. 11		J7
Mar. 14		J8		3,700		12,160
Mar. 18		J8
Mar. 21		J8
Mar. 25		J8
Mar. 27		J8
Mar. 28		J9

ACCOUNT	Sales Returns and Allowances				ACCOUNT NO.	401.1
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Mar. 5		J7
Mar. 16		J8

ACCOUNTS RECEIVABLE LEDGER
NAME	Donachie & Co.
ADDRESS	1424 Jackson Creek Road, Nashville, IN 47448-2245
DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
20--
Mar. 1		J7
Mar. 5		J7
Mar. 10		J7

NAME	Eck Bakery
ADDRESS	6422 E. Bender Road, Bloomington, IN 47401-7756
DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
20--
Mar. 11		J7
Mar. 16		J8
Mar. 20		J8
Mar. 25		J8

NAME	R. J. Kibubu, Inc.
ADDRESS	3315 Longview Avenue, Bloomington, IN 47401-7223
DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
20--
Mar. 3		J7
Mar. 13		J7
Mar. 18		J8

NAME	Whitaker Group
ADDRESS	2300 E. National Road, Cumberland, IN 46229-4824
DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
20--
Mar. 1	Balance				1,043
Mar. 27		J8