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Worksheets4.02 Journalizing Entries Merchandise Bus. Pt 2 [2020]
Total questions: 25
Worksheet time: 25mins
Dipper's Ice Cream Parlor returned merchandise that was purchased on account to The Ice Cream Company, $825. The journal entry for Dipper's Ice Cream Parlor to record this transaction is:
debit Accounts Payable/The Ice Cream Company, $825; credit Purchases Returns and Allowances, $825.
debit Accounts Receivable/The Ice Cream Company, $825; credit Purchases Returns and Allowances, $825.
debit Purchases Returns and Allowances, $825; credit Accounts Payable/The Ice Cream Company, $825.
debit Purchases Returns and Allowances, $825; credit Purchases, $825.
Allen discovered that a sale on account to Jones Company on June 5 for $560 was incorrectly charged to the account of Jackson Company. The journal entry to correct this error is:
debit Accounts Payable/Jones Company, $560; credit Accounts Payable/Jackson Company, $560.
debit Accounts Receivable/Jones Company, $560; credit Accounts Receivable/Jackson Company, $560.
debit Accounts Receivable/Jackson Company, $560; credit Accounts Receivable/Jones Company, $560.
debit Accounts Payable/Jackson Company, $560; credit Accounts Payable/Jones Company, $560.
The Toy Shop sold merchandise to Spirit Church for $41 cash. The journal entry for The Toy Shop to record this transaction is:
debit Sales, $41; credit Accounts Receivable/Spirit Church, $41.
debit Accounts Receivable/Spirit Church, $41; credit Sales $41.
debit Cash, $41; credit Sales, $41.
debit Sales, $41; credit Cash, $41.
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. The journal entry for Busters' Department Store to record the returned merchandise is:
debit Accounts Receivable/Jake Coble, $69; credit Sales Returns and Allowances, $65, Sales Tax Payable, $4.
debit Sales Returns and Allowances, $65, Sales Tax Payable, $4; credit Accounts Receivable/Jake Coble, $69.
debit Sales Returns and Allowances, $65, Sales Tax Payable, $4; credit Cash, $69.
debit Cash, $69; credit Sales Returns and Allowances, $65, Sales Tax Payable, $4.
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. The journal entry for Overseas Oil Co. to record this transaction is:
debit Sales, $665, Sales Tax Payable, $48; credit Cash $713.
debit Cash, $713; credit Sales, $665, Sales Tax Payable, $48.
debit Accounts Receivable/Auto Plastics, $713; credit Cash, $713.
debit Sales, $665, Sales Tax Payable, $48; credit Accounts Receivable/Auto Plastics, $713.
Lotta Milk, Inc. received $235 cash from Biggies Grocery for payment on account. The journal entry for Lotta Milk, Inc. to record this transaction is:
debit Accounts Receivable/Biggies Grocery, $235; credit Cash, $235.
debit Cash, $235; credit Accounts Receivable/Biggies Grocery, $235.
debit Sales, $235; credit Cash, $235.
debit Cash, $235; credit Sales, $235.
Moped, Inc. sold merchandise for cash to Molly's Mopeds for $312, plus sales tax of $25. The journal entry for Moped, Inc. to record this transaction is:
debit Cash, $337; credit Sales, $312, Sales Tax Payable, $25.
debit Accounts Receivable/Molly's Mopeds, $337; credit Cash, $337.
debit Accounts Receivable/Molly's Mopeds, $337; credit Sales, $312, Sales Tax Payable, $25.
debit Sales, $312, Sales Tax Payable, $25; credit Accounts Receivable/Molly's Mopeds, $337.
The Toy Box sold merchandise for cash to Great Gift Boxes for $265, plus sales tax of $20. The journal entry for The Toy Box to record this transaction is:
debit Accounts Receivable/Great Gift Boxes, $285; credit Cash, $285.
debit Cash, $285; credit Accounts Receivable/Great Gift Boxes, $285.
debit Sales, $265, Sales Tax Payable, $20; credit Cash, $285.
debit Cash, $285; credit Sales, $265, Sales Tax Payable, $20.
Piggy's Butcher House received $114 cash from Jimmy's Barbeque for payment on account. The journal entry for Piggy's Butcher House to record this transaction is:
debit Cash, $114; credit Sales, $114.
debit Sales, $114; credit Cash, $114.
debit Cash, $114; credit Accounts Receivable/Jimmy's Barbeque, $114.
debit Accounts Receivable/Jimmy's Barbeque, $114; credit Cash, $114.
ABC Computers received $489 cash from Quality Electronics for payment on account. The journal entry for ABC Computers to record this transaction is:
debit Cash, $489; credit Accounts Receivable/Quality Electronics, $489.
debit Sales, $489; credit Accounts Receivable/Quality Electronics, $489.
debit Accounts Receivable/Quality Electronics, $489; credit Sales, $489.
debit Accounts Receivable/Quality Electronics, $489; credit Cash, $489.
Tricky Ricky's Appliances sold merchandise on account to Smith Builders for $880, plus sales tax of $40. The journal entry for Tricky Ricky's Appliances to record this transaction is:
debit Accounts Payable/Smith Builders, $920; credit Sales, $880, Sales Tax Payable, $40.
debit Accounts Receivable/Smith Builders, $920; credit Sales, $880, Sales Tax Payable, $40.
debit Sales, $880, Sales Tax Payable, $40; credit Accounts Payable/Smith Builders, $920.
debit Sales, $880, Sales Tax Payable, $40; credit Accounts Receivable/Smith Builders, $920.
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. The journal entry for Sally's Shoes to record the returned merchandise is:
debit Sales Returns and Allowances, $200, Sales Tax Payable, $15; credit Cash, $215.
debit Cash, $215; credit Sales Returns and Allowances, $200, Sales Tax Payable, $15.
debit Accounts Receivable/Happy's Distributing, $215; credit Sales Returns and Allowances, $200, Sales Tax Payable, $15.
debit Sales Returns and Allowances, $200, Sales Tax Payable, $15; credit Accounts Receivable/Happy's Distributing, $215.
Murphy Hardware sold merchandise for cash to Tim Thompson for $813, plus sales tax of $56. Mr. Thompson later returned the merchandise. The journal entry for Murphy Hardware to record the returned merchandise is:
debit Sales Returns and Allowances, $813, Sales Tax Payable, $56; credit Cash, $869.
debit Cash, $869; credit Sales Returns and Allowances, $813, Sales Tax Payable, $56.
debit Accounts Receivable/Tim Thompson, $869; credit Sales Returns and Allowances, $813, Sales Tax Payable, $56.
debit Sales Returns and Allowances, $813, Sales Tax Payable, $56; credit Accounts Receivable/Tim Thompson, $869.
Automotive Supply sold merchandise for cash to Billy Bob's Auto Shop for $775, plus sales tax of $48. The journal entry for Automotive Supply to record this transaction is:
debit Cash, $823; credit Sales, $775, Sales Tax Payable, $48.
debit Sales, $775, Sales Tax Payable, $48; credit Cash, $823.
debit Accounts Receivable/Billy Bob's Auto Shop, $823; credit Sales $775, Sales Tax Payable, $48.
debit Sales, $775, Sales Tax Payable, $48; credit Accounts Receivable/Billy Bob's Auto Shop, $823.
Lonneisha's Quilt Shop purchased merchandise for cash from Patch Quilt Distributors for $550. The journal entry for Lonneisha's Quilt Shop to record this transaction is:
debit Cash, $550; credit Supplies $550.
debit Supplies, $550; credit Cash, $550.
debit Cash, $550; credit Purchases, $550.
debit Purchases, $550; credit Cash, $550.
The Hot Spot Donut Shop sold doughnuts on account to The Corner Church for $50. The journal entry for Hot Spot Donut Shop to record this transaction is:
debit Accounts Receivable/The Corner Church, $50; credit Purchases, $50.
debit Purchases, $50; credit Accounts Receivable/The Corner Church, $50.
debit Accounts Receivable/The Corner Church, $50; credit Sales $50.
debit Sales, $50; credit Accounts Receivable/The Corner Church, $50.
Icy Treats purchased merchandise for cash from Flavor Supply for $100. The journal entry for Icy Treats to record this transaction is:
debit Purchases, $100; credit Accounts Payable/Flavor Supply, $100.
debit Accounts Payable/Flavor Supply, $100; credit Cash, $100.
debit Cash, $100; credit Purchases, $100.
debit Purchases, $100; credit Cash, $100.
The Jungle Gym returned merchandise that was purchased on account to Footware Wholesale, $750. The journal entry for The Jungle Gym to record this transaction is:
debit Purchases Returns and Allowances, $750; credit Accounts Payable/F Wholesale, $750.
debit Accounts Receivable/ Wholesale, $750; credit Purchases Returns and Allowances, $750.
debit Accounts Payable/ Wholesale, $750; credit Purchases Returns and Allowances, $750.
debit Purchases Returns and Allowances, $750; credit Purchases, $750.
Carl's CDs purchased store supplies on account from Mason Supply for $425. The journal entry for Carl's CDs to record this transaction is:
debit Accounts Payable/Mason Supply, $425; credit Supplies, $425.
debit Accounts Receivable/Mason Supply, $425; credit Supplies, $425.
debit Supplies, $425; credit Accounts Payable/Mason Supply, $425.
debit Supplies, $425; credit Accounts Receivable/Mason Supply, $425.
Turf Supplies sold merchandise for cash to Circle Golf Club for $1,150, plus sales tax of $83. The journal entry for Turf Supplies to record this transaction is:
debit Sales, $1,150, Sales Tax Payable, $83; credit Cash $1,233.
debit Cash, $1,233; credit Sales, $1,150, Sales Tax Payable, $83.
debit Accounts Receivable/Circle Golf Club, $1,233; credit Cash, $1,233.
debit Cash, $1,233; credit Accounts Receivable/ Circle Golf Club, $1,233.
Patty's Party Favors accepted returned merchandise purchased on account by The Wedding Planners for $613, plus sales tax of $48. The journal entry for Patty's Party Favors to record this transaction is:
debit Accounts Payable/The Wedding Planners, $661; credit Purchases Returns and Allowances, $661.
debit Accounts Receivable/The Wedding Planners, $661; credit Sales Returns and Allowances, $613, Sales Tax Payable, $48.
debit Sales Returns and Allowances, $613, Sales Tax Payable, $48; credit Accounts Payable/The Wedding Planners, $661.
debit Sales Returns and Allowances, $613, Sales Tax Payable, $48; credit Accounts Receivable/The Wedding Planners, $661.
Cara's CDs paid cash on account to Willie's Wholesale, $595, covering Purchase Invoice No. 60. The journal entry for Cara's CDs to record this transaction is:
debit Accounts Payable/Willie's Wholesale, $595; credit Cash, $595.
debit Accounts Receivable/Willie's Wholesale, $595; credit Cash, $595.
debit Cash, $595; credit Accounts Payable/Willie's Wholesale, $595.
debit Cash, $595; credit Accounts Receivable/Willie's Wholesale, $595.
The Aquatic Kingdom sold Quiet Pets some newly hatched goldfish on account for $145, plus sales tax of $10. The journal entry for the Aquatic Kingdom to record this transaction is:
debit Accounts Receivable/Quiet Pets, $155; credit Sales, $145, Sales Tax Payable, $10.
debit Sales, $145, Sales Tax Payable, $10; credit Accounts Receivable/Quiet Pets, $155.
debit Accounts Receivable/Quiet Pets, $155; credit Purchases, $155.
debit Purchases, $155; credit Accounts Receivable/Quiet Pets, $155.
Tiny's Toys returned merchandise that was purchased on account to Jonah's Distributing, $150. The journal entry for Tiny's Toys to record this transaction is:
debit Accounts Payable/Jonah's Distributing, $150; credit Purchases, $150.
debit Accounts Payable/Jonah's Distributing, $150; credit Purchases Returns and Allowances, $150.
debit Purchases Returns and Allowances, $150; credit Accounts Payable/Jonah's Distributing, $150.
debit Accounts Receivable/Jonah's Distributing, $150; credit Purchases Returns and Allowances, $150.
Belinda's Rare Books purchased merchandise for cash from Book Distributors for $900. The journal entry for Belinda's Rare Books to record this transaction is:
debit Accounts Payable/Book Distributors, $900; credit Purchases, $900.
debit Purchases, $900; credit Accounts Payable/Book Distributors, $900.
debit Cash, $900; credit Purchases, $900.
debit Purchases, $900; credit Cash, $900.
