December 28
Recorded a major sale (sales invoice G3024) to the Eagle
Mountain Snowmobile Club. Received a $25,000, 14%, 60-day
note receivable (dated today) and the remaining balance in cash.
Calculate the total amount of the sale (including 7% sales tax of
$3,894.98). Remember that all snowmobiles are sold with a 25%
markup on cost.
Merchandise listed on the sales invoice:
SW660 SWIFT ENDURO (2) $5,940.00
T1500 TRAIL-TRACKER 1500 (4) $4,116.00
T3000 TRAIL-TRACKER 3000 (3) $5,390.00
December 30
Issued check 30118 for $54.10 to replenish the Petty Cash Fund.
A total of $45.90 remains in the petty cash box at this time. Be
sure to account for the cash overage or shortage. At the invoice
prompt enter PCASH. A summary of receipts shows the
following expenditures have been made to date from Petty Cash:
Store & Shop Supplies $35.10
Miscellaneous Expense $18.00
December 29
Sold two fanny paks and two neon caps to customer Doug
Winchester for $93.00 and also charged Mr. Winchester for 1.75
hours of additional service work on his snowmobile (be sure to
include sales tax). The sales invoice number is G3027 and Mr.
Winchester paid cash for his merchandise and service work.
Merchandise listed on the sales invoice:
U2200 FANNY PAK (2) $17.25
N6000 NEON CAP (2) $6.00
Recorded a major sale (sales invoice G3024) to the Eagle
Mountain Snowmobile Club. Received a $25,000, 14%, 60-day
note receivable (dated today) and the remaining balance in cash.
Calculate the total amount of the sale (including 7% sales tax of
$3,894.98). Remember that all snowmobiles are sold with a 25%
markup on cost.
Merchandise listed on the sales invoice:
SW660 SWIFT ENDURO (2) $5,940.00
T1500 TRAIL-TRACKER 1500 (4) $4,116.00
T3000 TRAIL-TRACKER 3000 (3) $5,390.00
December 30
Issued check 30118 for $54.10 to replenish the Petty Cash Fund.
A total of $45.90 remains in the petty cash box at this time. Be
sure to account for the cash overage or shortage. At the invoice
prompt enter PCASH. A summary of receipts shows the
following expenditures have been made to date from Petty Cash:
Store & Shop Supplies $35.10
Miscellaneous Expense $18.00
December 29
Sold two fanny paks and two neon caps to customer Doug
Winchester for $93.00 and also charged Mr. Winchester for 1.75
hours of additional service work on his snowmobile (be sure to
include sales tax). The sales invoice number is G3027 and Mr.
Winchester paid cash for his merchandise and service work.
Merchandise listed on the sales invoice:
U2200 FANNY PAK (2) $17.25
N6000 NEON CAP (2) $6.00