© 2000 south-western educational publishing salescash cash and credit card sales november 4....

© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing

SalesCash

CASH AND CREDIT CARD SALESCASH AND CREDIT CARD SALES

November 4. Recorded cash and credit card sales, $5,460.00, plus sales tax, $327.60; total, $5,787.60. Cash Register Tape No 4.

Accounts Affected

Cash

Sales

Sales Tax Payable

Entered

Debit side

Credit side

Credit side

Change

Increased

Increased

Increased

Lesson 11-1, page 255Lesson 11-1, page 255

Classification

Asset

Revenue

Liability

normal balance

5,460.60normal balance

5,787.60

Sales Tax Payablenormal balance

327.60


CALCULATING SALES TAXCALCULATING SALES TAX

Price of Goods x Sales Tax Rate = Sales Tax

$5,460 .06 = $327.60

Price of Goods + Sales Tax = Total Amount Received

$5,460 + $327.60 = $5,787.60


2. Place a check mark in the Account Title column to show that no account title needs to be written.

CASH AND CREDIT CARD SALESCASH AND CREDIT CARD SALES

5

1

34

2

3. Write the cash register tape number.

1. Write the date.

4. Place a check mark in the Post. Ref. column to show that amounts on this line are not to be posted individually.

5. Write the sales amount.

6. Write the sales tax amount.7. Write the cash amount.

6 7



SALES INVOICESALES INVOICE



SalesAccounts Receivable

SALES ON ACCOUNTSALES ON ACCOUNT

November 3. Sold merchandise on account to Children’s Paradise, $816.00, plus sales tax, $48.96; total, $864.96. Sales Invoice No. 76.Accounts Affected

Accounts Receivable

Sales

Sales Tax Payable

Entered

Debit side

Credit side

Credit side

Change

Increased

Increased

Increased


Classification

Asset

Revenue

Liability

normal balance

816.00normal balance

864.96

Sales Tax Payablenormal balance

48.96


SALES ON ACCOUNTSALES ON ACCOUNT

2. Write the customer name.3. Write the sales invoice

number.

1. Write the date. 4. Write the total amount owed.

5. Write the sales amount.

6. Write the sales tax amount.


432

15 6


CASH RECEIPTS ON ACCOUNTCASH RECEIPTS ON ACCOUNT

5

1

3 42

3. Write the receipt number.

1. Write the date.

4. Write the credit amount.

2. Write the customer’s name.

5. Write the debit amount.



4. Place a check mark.

CARRYING TOTALS FORWARD ON THE LEFT PAGECARRYING TOTALS FORWARD ON THE LEFT PAGE

RIGHT PAGERIGHT PAGE

3 42

3. Write Carried Forward.

1. Rule a single line.

5. Write each column total.

2. Write the date.

6. Rule double lines.

1

6

5

5

Lesson 11-2, Lesson 11-2, p. 260-261p. 260-261


STARTING A NEW EXPANDED JOURNAL LEFT PAGESTARTING A NEW EXPANDED JOURNAL LEFT PAGE

RIGHT PAGERIGHT PAGE4. Place a check mark.

3. Write Brought Forward.

5. Record column total brought forward.

2. Write the date.

3 425

5

1. Write journal page number on the left and right pages.

1

1Lesson 11-2, Lesson 11-2,

p. 262-263p. 262-263


PROVING AND RULING OF AN EXPANDED JOURNAL PROVING AND RULING OF AN EXPANDED JOURNAL AT THE END OF THE MONTH — LEFT PAGE AT THE END OF THE MONTH — LEFT PAGE

RIGHT PAGERIGHT PAGE

32

3. Write Totals.

1. Rule a single line.

4. Write each column total.

2. Write the date.

5. Rule double lines.

1

4

4

Lesson 11-2, Lesson 11-2, p. 264-265p. 264-265

5


TTERMS REVIEWERMS REVIEWcustomer

sales tax

cash sale

credit card sale


© 2000 south-western educational publishing salescash cash and credit card sales november 4....

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