Term
| Debit Sales Returns and Allowances, $400, Sales Tax Payable, $32; Credit Accounts Receivable/Serious Sports, $432. |
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Definition
| Timer's Distributing accepted returned merchandise purchased on account by Serious Sports for, $400, plus sales tax of $32. What is the journal entry for Timer's Distributing to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Sales Returns and Allowances, $613, Sales Tax Payable, $48; Credit Accounts Receivable/The Wedding Planners, $661. |
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Definition
| Patty's Party Favors accepted returned merchandise purchased on account by The Wedding Planners for, $613, plus sales tax of $48. What is the journal entry for Patty's Party Favors to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Sales Returns and Allowances, $14,450, Sales Tax Payable, $1,100; Credit Accounts Receivable/Sky Builders, $15,550. |
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Definition
| American Steel accepted returned merchandise purchased on account by Sky Builders for, $14,450, plus sales tax of $1,100. What is the journal entry for American Steel to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Sales Returns and Allowances, $348, Sales Tax Payable, $22; Credit Accounts Receivable/Penny Arcade, $370. |
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Definition
| Juan's Stuffed Animals accepted returned merchandise purchased on account by Penny Arcade for, $348, plus sales tax of $22. What is the journal entry for Juan's Stuffed Animals to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Sales Returns and Allowances, $997, Sales Tax Payable, $62; Credit Accounts Receivable/Wave Com, $1,059 |
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Definition
| Delacom Communciations accepted returned merchandise purchased on account by Wave Com for, $997, plus sales tax of $62. What is the journal entry for Delacom Communciations to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Sales Returns and Allowances, $65, Sales Tax Payable, $4; Credit Cash, $69. |
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Definition
| Busters' Department Store sold merchandise for $65, plus sales tax of $4, to Jake Coble who charged the sale on his bank credit card. Mr. Coble later returned the merchandise. What is the journal entry for Busters' Department Store to record the returned merchandise? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Cash, $235; credit Accounts Receivable/Biggies Grocery, $235. |
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Definition
| Lotta Milk, Inc. received $235 cash from Biggies Grocery for payment on account. What is the journal entry for Lotta Milk, Inc. to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Cash, $195; credit Accounts Receivable/1st Bank, $195. |
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Definition
| The Trough Restaurant received $195 cash from 1st Bank for payment on account. What is the journal entry for The Trough Restaurant to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Cash, $85; credit Accounts Receivable/Bad Wood Hotel, $85. |
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Definition
| Pesky Termite received $85 cash from Bad Wood Hotel for payment on account. What is the journal entry for Pesky Termite to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Cash, $544; debit Sales Discounts $26; credit Accounts Receivable/ Corner Market, $570. |
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Definition
| Heart Medical received $544 cash from Corner Market for payment on account. Corner Market took a $26 discount for paying early. What is the journal entry for Heart Medical to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Cash, $48; debit Sales Discounts $2; credit Accounts Receivable/ Kevin Grayson, $50. |
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Definition
| City Observer received $48 cash from Kevin Grayson for payment on account. Kevin Grayson took a $2 discount for paying early. What is the journal entry for City Observer to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Cash, $118; debit Sales Discounts $3; credit Accounts Receivable/ Cody Waters, $121. |
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Definition
| City Utilities received $118 cash from Cody Waters for payment on account. Cody Waters took a $3 discount for paying early. What is the journal entry for City Utilities to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Sales Returns and Allowances, $813, Sales Tax Payable, $56; Credit Cash, $869. |
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Definition
| Murphy Hardware sold merchandise for cash to Tim Thompson for $813, plus sales tax of $56. Mr. Thompson later returned the merchandise. What is the journal entry for Murphy Hardware to record the returned merchandise? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Sales Returns and Allowances, $806, Sales Tax Payable, $52; Credit Accounts Receivable/3rd Street Pool, $858. |
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Definition
| Tony's Custom Pool Cues accepted returned merchandise purchased on account by 3rd Street Pool for, $806, plus sales tax of $52. What is the journal entry for Tony's Custom Pool Cues to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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Term
| Debit Cash, $320; credit Accounts Receivable/Pancake Hut, $320 |
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Definition
| Food Supply received $320 cash from Pancake Hut for payment on account. What is the journal entry for Food Supply to record this transaction? (NCCTE.9_12.BE.6311.CA03.02) |
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