Solved

Jane's Animal Haven Uses the General Journal to Record Its

Question 91

Essay

Jane's Animal Haven uses the general journal to record its charge sales invoices instead of a sales journal. The sales tax rate is 4.5 percent on retail item(s).
Instructions:
1.
Record the June 1 balances, if any, in the general ledger as given: Accounts Receivable 113 controlling account, $1,326; Sales Tax Payable 214, Sales 411, $26,852, Sales Returns and Allowances 412. Write "Balance" in the Item column and place a check mark in the Post. Ref. column.
2.
Open the following accounts in the accounts receivable ledger and record the balances, if any, as of June 1: J. Green; G. Haas, $656; S. Soudah; L. Wold. For the account having a balance, write "Balance" in the Item column and place a check mark in the Post. Ref. column.
3.
Record the below transactions in the general journal for the total amount of the charge sales invoices.
4.
Post the amounts from the general journal to the general ledger and accounts receivable ledger. Write the invoice number of each sales invoice in the Post. Ref. column to indicate that the amounts have been posted.
5.
Prepare a schedule of accounts receivable.
?
Jane's Animal Haven uses the general journal to record its charge sales invoices instead of a sales journal. The sales tax rate is 4.5 percent on retail item(s). Instructions: 1. Record the June 1 balances, if any, in the general ledger as given: Accounts Receivable 113 controlling account, $1,326; Sales Tax Payable 214, Sales 411, $26,852, Sales Returns and Allowances 412. Write  Balance  in the Item column and place a check mark in the Post. Ref. column. 2. Open the following accounts in the accounts receivable ledger and record the balances, if any, as of June 1: J. Green; G. Haas, $656; S. Soudah; L. Wold. For the account having a balance, write  Balance  in the Item column and place a check mark in the Post. Ref. column. 3. Record the below transactions in the general journal for the total amount of the charge sales invoices. 4. Post the amounts from the general journal to the general ledger and accounts receivable ledger. Write the invoice number of each sales invoice in the Post. Ref. column to indicate that the amounts have been posted. 5. Prepare a schedule of accounts receivable. ?

Correct Answer:

verifed

Verified

blured image
blured image ?
blured image ?
...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents