Term
| Sally's Shoes sold merchandise for cash to Happy's Distributing for $200, plus sales tax of $15. Happy's Distributing later returned the merchandise. What is the journal entry for Sally's Shoes to record the returned merchandise? |
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Definition
| Debit Sales Returns and Allowances, $200, Sales Tax Payable, $15; Credit Cash, $215. |
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Term
| Big Kites Mfg. sold merchandise for $432, plus sales tax of $36, to Mountain Soaring, who paid for the merchandise with a bank credit card at the time of the sale. What is the journal entry for Big Kites Mfg. to record this transaction? |
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Definition
| Debit Cash, $468; Credit Sales, $432, Sales Tax Payable, $36. |
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Term
| Lucy's Famous Mexican Food sold merchandise for $26, plus sales tax of $1, to Craig Morton, who paid for the merchandise with a bank credit card at the time of the sale. What is the journal entry for Lucy's Famous Mexican Food to record this transaction? |
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Definition
| Debit Cash, $27; Credit Sales, $26, Sales Tax Payable, $1. |
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Term
| Overseas Oil Co. sold merchandise for $665, plus sales tax of $48, to Auto Plastics, who paid for the merchandise with a bank credit card at the time of the sale. What is the journal entry for Overseas Oil Co. to record this transaction? |
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Definition
| Debit Cash, $713; Credit Sales, $665, Sales Tax Payable, $48. |
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Term
| Seahawk Fastpitch Softball paid cash on account to Community Field, $295, covering Purchase Invoice No. 14. What is the journal entry for Seahawk Fastpitch Softball to record this transaction? |
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Definition
| Debit Accounts Payable/ Community Field $295; credit Cash, $295 |
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Term
| Starz Transport paid cash on account to Avery Aircraft, $995, covering Purchase Invoice No. 1691. What is the journal entry for Starz Transport to record this transaction? |
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Definition
| Debit Accounts Payable/ Avery Aircraft $995; credit Cash, $995. |
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Term
| Tricky Ricky's Appliances sold merchandise on account to Smith Builders for $880, plus sales tax of $40. What is the journal entry for Tricky Ricky's Appliances to record this transaction? |
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Definition
| Debit Accounts Receivable/Smith Builders, $920; Credit Sales $880, Sales Tax Payable, $40 |
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Term
| The All Wet Pet House sold Quiet Pets, fish on account for $145, plus sales tax of $10. What is the journal entry for The All Wet Pet House to record this transaction? |
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Definition
| Debit Accounts Receivable/Quiet Pets, $155; Credit Sales, $145, Sales Tax Payable, $10 |
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Term
| The Hot Spot Donut Shop sold donuts on account to The Corner Church for $50. What is the journal entry for Hot Spot Donut Shop to record this transaction? |
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Definition
| Debit Accounts Receivable/ The CornerChurch, $50; Credit Sales $50 |
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Term
| Linen Supply sold Nites Inn, merchandise on account for $551, plus sales tax of $31. What is the journal entry for Linen Supply to record this transaction? |
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Definition
| Debit Accounts Receivable Nites Inn, $582; Credit Sales, $551, Sales Tax Payable, $31 |
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Term
| 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? |
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Definition
| Debit Sales Returns and Allowances, $400, Sales Tax Payable, $32; Credit Accounts Receivable/Serious Sports, $432 |
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Term
| 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? |
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Definition
| Debit Sales Returns and Allowances, $613, Sales Tax Payable, $48; Credit Accounts Receivable/The Wedding Planners, $661 |
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Term
| 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? |
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Definition
| Debit Sales Returns and Allowances, $65, Sales Tax Payable, $4; Credit Cash, $69 |
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Term
| 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? |
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Definition
| Debit Sales Returns and Allowances, $348, Sales Tax Payable, $22; Credit Accounts Receivable/Penny Arcade, $370 |
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Term
| Fast Freddy Furniture received $175 cash from Wayne Sweeny for payment on account. What is the journal entry for Fast Freddy Furniture to record this transaction |
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Definition
| Debit Cash, $175; credit Accounts Receivable/Wayne Sweeny, $175 |
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Term
| 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? |
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Definition
| Debit Sales Returns and Allowances, $806, Sales Tax Payable, $52; Credit Accounts Receivable/3rd Street Pool, $858 |
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Term
| Loopers & Cybrand Accountants purchase office supplies on account from Quick's Supply for $50. What is the journal entry for Loopers & Cybrand Accountants to record this transaction? |
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Definition
| Debit Office Supplies, $50; Credit Accounts Payable/Quick's Supply, $50 |
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Term
| Diane's Perfume Wholesale sold merchandise on account to Select Perfumes for $437, plus sales tax of $23. What is the journal entry for Diane's Perfume to record this transaction? |
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Definition
| Debit Accounts Receivable/Select Perfumes, $460; Credit Sales, $437, Sales Tax Payable, $23 |
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Term
| The Wayback Antique Supply sold Old Treasures, merchandise on account for $137, plus sales tax of $8. What is the journal entry for Wayback Antique Supply to record this transaction? |
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Definition
| Debit Accounts Receivable/Old Treasures, $145; Credit Sales $137, Sales Tax Payable, $8 |
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Term
| The Hot Spot Donut Shop sold donuts on account to The Corner Church for $50. What is the journal entry for Hot Spot Donut Shop to record this transaction? |
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Definition
| Debit Accounts Receivable/ The CornerChurch, $50; Credit Sales $50 |
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Term
| The All Wet Pet House sold Quiet Pets, fish on account for $145, plus sales tax of $10. What is the journal entry for The All Wet Pet House to record this transaction? |
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Definition
| Debit Accounts Receivable/Quiet Pets, $155; Credit Sales, $145, Sales Tax Payable, $10 |
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Term
| The Jelly Belly Supply Store sold jelly beans to Just Sweets, on account for $250, plus sales tax of $16. What is the journal entry for Jelly Belly Supply Store to record this transaction? |
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Definition
| Debit Accounts Receivable/ Just Sweets, $266; Credit Sales $250, Sales Tax Payable, $16 |
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Term
| Linen Supply sold Nites Inn, merchandise on account for $551, plus sales tax of $31. What is the journal entry for Linen Supply to record this transaction? |
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Definition
| Debit Accounts Receivable Nites Inn, $582; Credit Sales, $551, Sales Tax Payable, $31 |
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Term
| Marty's Supply sold merchandise for cash to Karl's CD's for $325, plus sales tax of $27. What is the journal entry for Marty's Supply to record this transaction |
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Definition
| Debit Cash, $352; Credit Sales, $325, Sales Tax Payable, $27 |
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Term
| The Mine Safety Warehouse sold Lucky Mines, merchandise on account for $414, plus sales tax of $24. What is the journal entry for The Mine Safety Warehouse to record this transaction? |
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Definition
| Debit Accounts Receivable/Lucky Mines, $438; Credit Sales, $414, Sales Tax Payable, $24 |
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Term
| Automotive Supply sold merchandise for cash to Billy Bob's Auto Shop for $775, plus sales tax of $48. What is the journal entry for Automotive Supply to record this transaction? |
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Definition
| Debit Cash, $823; Credit Sales, $775, Sales Tax Payable, $48 |
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Term
| Billy Bob's B-B-Q paid cash to Pork Distributors, $418; covering Purchase Invoice No. 1921 for $440, less a 5% discount, $22.00. What is the journal entry for Billy Bob's B-B-Q to record this transaction? |
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Definition
| Debit Accounts Payable/ Pork Distributors, $440; credit Purchases Discount $22 and credit Cash $418 |
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Term
| Cara's CDs paid cash on account to Willie's Wholesale, $595, covering Purchase Invoice No. 60. What is the journal entry for Cara's CDs to record this transaction |
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Definition
| Debit Accounts Payable/Willie's Wholesale $595; credit Cash, $595. |
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Term
| Wally's Wallets paid cash to Leather Products Supply, $437; covering Purchase Invoice No.1284 for $460, less a 5% discount, $23.00. What is the journal entry for Wally's Wallets to record this transaction? |
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Definition
| Debit Accounts Payable/ Leather Products Supply, $460; credit Purchases Discount $23 and credit Cash $437 |
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Term
| Terry's Tree Removal paid cash to Sam's Sharpening Service, $735; covering Purchase Invoice No. 1415 for $750, less a 2% discount, $15.00. What is the journal entry for Terry's Tree Removal to record this transaction |
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Definition
| Debit Accounts Payable/ Sam's Sharpening Service, $750; credit Purchases Discount $15 and credit Cash $735. |
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Term
| Dollar Arcade paid cash to Cola Distributors, $245; covering Purchase Invoice No. 4131 for $250, less a 2% discount, $5.00. What is the journal entry for Dollar Arcade to record this transaction? |
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Definition
| Debit Accounts Payable/ Cola Distributors, $250; credit Purchases Discount $5 and credit Cash $245 |
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Term
| Curt's Cabinets paid cash to Phil's Fasteners, $441; covering Purchase Invoice No. 54 for $450, less a 2% discount, $9.00. What is the journal entry for Curt's Cabinets to record this transaction? |
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Definition
| Debit Accounts Payable/ Phil's Fasteners, $450; credit Purchases Discount $9 and credit Cash $441 |
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Term
| Computer Phones, Inc. paid cash to Software Supply, $817; covering Purchase Invoice No.2254 for $860, less a 5% discount, $43.00. What is the journal entry for Computer Phones, Inc. to record this transaction? |
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Definition
| Debit Accounts Payable/ Software Supply, $860; credit Purchases Discount $43 and credit Cash $817 |
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Term
| High Roads Mini Golf paid cash to Golf Equipment Distributors, $646; covering Purchase Invoice No.1746 for $680, less a 5% discount, $34.00. What is the journal entry for High Roads Mini Golf to record this transaction? |
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Definition
| Debit Accounts Payable/ Golf Equipment Distributors, $680; credit Purchases Discount $34 and credit Cash $646 |
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Term
| Impressive Signs paid cash to Peoria Paints, $513; covering Purchase Invoice No. 77 for $540, less a 5% discount, $27.00. What is the journal entry for Impressive Signs to record this transaction? |
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Definition
| Debit Accounts Payable/ Peoria Paints, $540; credit Purchases Discount $27 and credit Cash $513 |
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