NAME: __________________________________________________ACCOUNTING CHAPTER 12 TESTDonna’s General...

Question

NAME: __________________________________________________
ACCOUNTING CHAPTER 12 TEST
Donna’s General Store had the following transactions for the month of June 2018.
Customer balances are as follows:
    Victor Cardona        $299.95
    Kelly Coley            $99.95
    Susan Haber            $79.98
    Gina Kimra            $379.50
    Te
y Sche
er        $149.50
    Kenneth Watt        $199.75
Accounts Receivable has an opening balance of $1208.63
There is no opening Accounts Payable balance or outstanding balances from existing vendors.
Record each transaction below in the appropriate journal (sales, cash receipts, purchases, cash payments or general). Post all applicable transactions to either the Accounts Receivable or Accounts Payable subledger. Total, rule and post each special journal to the general journal. Prepare a schedule of accounts receivable and schedule of accounts payable to ensure balance.
June 1    Purchased merchandise from Sullivan Company on account, invoice 71, terms 2/10, n/30, $234.20
June 2    Issued check 536 for $ XXXXXXXXXXfor June rent
June 3    Sold merchandise on account to Susan Haber, invoice 41, $159.50 plus 6% sales tax
June 4    Sold merchandise on account to Gina Kimra for $299.95 plus 6% sales tax on invoice 42
June 5    Purchased merchandise from Amfac Drug Supply on account, $562.40, invoice 196 terms 1/15, n/30
June 6    Received payment on account from Te
y Sche
er $69.50
June 7    Issued a credit memo to Kenneth Watt for merchandise returned that had been sold on account, $42.75
June 7    Purchased merchandise from University Co on account, $367.35, invoice 914A, terms 3/10, n/30
June 9    Issued check 537 to Sullivan Company in payment for invoice 71
June 10    Received payment from Kelly Coley for her entire balance
June 11    Sold merchandise on account to Victor Cardona, $499.95 plus 6% sales tax, invoice 43
June 12    Received a credit memo from Amfac Drug Supply for merchandise returned costing $46.20
June 14    Received payment from Kenneth Watt for his full balance
June 14    Purchased merchandise from Mutual Inc. on invoice 745, terms 2/10, n/30, $479.40
June 15    Received a credit memo from University Co. for $53.70 for merchandise returned
June 16    Issued check 538 to Amfac Drug Supply for payment of invoice 196 less the credit memo
June 17    Susan Haber purchased merchandise on account on invoice 44 for $379.95 plus 6% sales tax
June 19    Sold merchandise to Te
y Sche
er, on account, for $59.95 plus 6% sales tax, on invoice 45
June 21    Issued a credit memo to Gina Kimra for returned merchandise worth $53.45
June 23    Issued check 539 to Mutual Inc. in payment of invoice 745
June 24    Received a payment of $299.95 from Victor Cardona
June 25    Sold merchandise on account to Kelly Coley on invoice 46 for $179.50 plus 6% sales tax
June 26    Received a payment of $250.65 from Susan Habe
June 27    Purchased merchandise from Flites International, on account, for $ XXXXXXXXXXThey issued invoice 675 with terms 2/10, n/30
June 28    Kenneth Watt purchased merchandise on account for $49.95 plus 6% sales tax, issued invoice 47
June 29    Issued check 540 to Dolgin Candy Co for a cash purchase of merchandise, $270.20
June 30    Cash sales for the month totaled $ XXXXXXXXXXplus 6% sales tax; bank credit card sales for the month totaled $ XXXXXXXXXXplus 6% sales tax. The bank credit card fee is 3% of the bank credit card sales
June 30    Issued check 541 for the monthly utility bill of $1217.69

chapter-12-test-a-u3jsxpt4.docx

Md Ishtyaque · Accepted Answer

JOURNAL
		JOURNAL ENTERIES
		Date	Particulars				Dr. ($)	Cr. ($)
		Jun-01	Purchased A/c 			Dr.	234.2
				To Sullivan Co A/c				234.2
		Jun-02	Rent Expenses A/c 			Dr.	1000
				To Bank/Cash A/c				1000
		Jun-03	Susan Haber A/c			Dr.	169.07
				To Sales A/c				159.5
				To Sales Tax A/c				9.57
		Jun-04	Gina Kimra  A/c			Dr.	317.47
				To Sales A/c				299.5
				To Sales Tax A/c				17.97
		Jun-05	Purchased A/c 			Dr.	562.4
				To Amfac Drug A/c				562.4
		Jun-06	Bank/Cash A/c			Dr.	69.5
				To Terry Scherrer A/c				69.5
		Jun-07	Sales Return A/c			Dr.	42.75
				To Kenneth Watt				42.75
		Jun-07	Purchased A/c 			Dr.	367.35
				To University Co A/c				367.35
		Jun-09	Sullivan Co A/c			Dr.	234.2
				To Bank/Cash A/c				229.516
				To Discount Received				4.684
		Jun-10	Bank/Cash A/c 			Dr.	99.95
				To Kelly Coley A/c				99.95
		Jun-11	Victor Cardona A/c			Dr.	529.947
				To Sales A/c				499.95
				To Sales Tax A/c				29.997
		Jun-12	Amfac Drug A/c 			Dr.	46.2
				To Purchases Retun				46.2
		Jun-14	Bank/Cash A/c 			Dr.	157
				To Bank/Cash				157
		Jun-14	Purchased A/c 			Dr.	479.4
				To Mutual Inc				479.4
		Jun-15	University Co.			Dr.	53.7
				To Purchases Retun				53.7
		Jun-16	Amfac Drug A/c				516.2
				To Bank/Cash A/c				5.162
				To Discount Received A/c				511.038
		Jun-17	Susan Haber A/c			Dr.	402.747
				To Sales A/c				379.95
				To Sales Tax A/c				22.797
		Jun-19	Terry Scherrer			Dr.	63.547
				To Sales A/c				59.95
				To Sales Tax A/c				3.597
		Jun-21	Sales Return A/c 			Dr.	53.45
				To Gina Kimra				53.45
		Jun-23	Mutual Inc. A/c			Dr.	479.4
				To Bank/Cash A/c	Bank/Cash A/c			469.812
				To Discount Recevied A/c				9.588
		Jun-24	Bank/Cash A/c			Dr.	299.95
				To Victor Cardona A/c				299.95
		Jun-25	Kelly Colley			Dr.	190.27
				To Sales A/c				179.5
				To Sales Tax A/c				10.77
		Jun-26	Bank/Cash A/c			Dr.	250.65
				To Susan Haber A/c				250.65
		Jun-27	Purchases A/c			Dr.	638.47
				To Flites International				638.47
		Jun-28	Kenneth Watt			Dr.	52.947
				To Sales A/c				49.

NAME: __________________________________________________ ACCOUNTING CHAPTER 12 TEST Donna’s General Store had the following transactions for the month of June 2018. Customer balances are as follows:...

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