Question:

Please help with Sales journal—perpetual question???

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Hutton Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursement

journal, and a general journal. The following transactions occur in the month of March:

Mar. 2 Sold merchandise costing $300 to B. Fager for $450 cash, invoice no. 5703.

5 Purchased $2,300 of merchandise on credit from Marsh Corp.

7 Sold merchandise costing $800 to J. Dryer for $1,150, terms 2_10, n_30, invoice no. 5704.

8 Borrowed $8,000 cash by signing a note payable to the bank.

12 Sold merchandise costing $200 to R. Land for $320, terms n_30, invoice no. 5705.

16 Received $1,127 cash from J. Dryer to pay for the purchase of March 7.

19 Sold used store equipment for $900 cash to Malone, Inc.

25 Sold merchandise costing $350 to T. Burton for $550, terms n_30, invoice no. 5706.

Prepare headings for a sales journal like the one in Exhibit 7.5. Journalize the March transactions that

should be recorded in this sales journal.

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1 ANSWERS


  1. I've sent the Excel file to the address you gave me.

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