Question
In: Accounting
Mar 22 We sold merchandise on account to new clients: A. Ashe, protective eye goggles sold...
Mar 22 We sold merchandise on account to new clients: A. Ashe, protective eye goggles sold for $2,900. The cost of the merchandise was $1,160
Mar 24 A. Ashe returned damaged merchandise on account from his Mar 22 purchase, $650.
Solutions
Expert Solution
| DATE | PARTICULARS | DR | CR | |
| 22-Mar | A ASHE ACCOUNT DR | 2900 | ||
| TO SALES ACCOUNT | 2900 | |||
| (BEIGN SALES MADE) | ||||
| 24-Mar | SALES RETURN ACCOUNT DR | 650 | ||
| TO A ASHE ACCOUNT | 650 | |||
| ( BEIGN DAMAGED MERCHANDISE RETURNED BY A ASHE) | ||||
| SALES ACCOUNT | ||||
| PARTICULARS | DR AMT | PARTICULARS | CR AMT | |
| A ASHE ACCOUNT | 2900 | |||
| SALES RETURN ACCOUNT | 650 | |||
| PROFIT AND LOSS ACCOUNT | 2250 | |||
| TOTAL | 2900 | TOTAL | 2900 | |
| SALES RETURN ACCOUNT | ||||
| PARTICULARS | DR AMT | PARTICULARS | CR AMT | |
| A ASHE ACCOUNT | 650 | |||
| SALES ACCOUNT | 650 | |||
| TOTAL | 650 | TOTAL | 650 | |
| A ASHE ACCOUNT | ||||
| PARTICULARS | DR AMT | PARTICULARS | CR AMT | |
| SALES ACCOUNT | 2900 | SALES RETURN ACCOUNT | 650 | |
| CLOSING BALANCE | 2250 | |||
| TOTAL | 2900 | TOTAL | 2900 |
ekkarill92 answered 3 years agoRelated Solutions
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30
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Account Name
Increase or
Decrease
Amount
Explanation:
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3.
Account Name
Increase or
Decrease
Amount
Explanation:
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Account Name
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Explanation:
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0.... The account in
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1.... The principal
ledger that contains all of the balance sheet and income
statement accounts is called the
............................................................
2.... Each subsidiary
ledger is represented by a summarizing account in
the general ledger called a(n)
.................................................................
3.... The accounts in
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.......................................................................................
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Sales
Cost
Cost of Merchandise Sold
Merchandise Inventory
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Refund
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blank b408b3fa8fce01a_3 Sales fill in the blank b408b3fa8fce01a_5
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