Answer: Please see answer in the expalantion column
Explanation:
To record merchandise sold on account
Date Account Titles and Explanation Debit Credit
Mar 2 Accounts Receivable-Equinox Co $20,000
Sales $20,000.
To record cost of merchandise sold on account
Date Account Titles and Explanation Debit Credit
Mar 2 Cost of Merchandise Sold $13 150.00
Merchandise Inventory $13,150.00
To record merchandise sold for cash
Date Account Titles and Explanation Debit Credit
Mar 3 Cash(10,950 + 657) $11,607.00
Sales $10,669.00
Sales Tax Payable(10,950 x 6%) $657.00
To record cost of merchandise sold on account
Cost of Merchandise Sold $7,100.00
Merchandise Inventory $7,100.00
To record cost of merchandise sold on account
Date Account Titles and Explanation Debit Credit
Mar 4 Accounts Receivable-Empire Co $51,450.00
Sales $51,450.00
To record cost of merchandise sold on account
Cost of Merchandise Sold $35,420.00
Merchandise Inventory $35,420.00
To record merchandise sold using Master card
Mar 5 Cash(27900 +1,674) $29,574
Sales $27,900
Sales Tax Payable(27,900 x6%) $1,674
To record cost of merchandise sold using Mastercard
Cost of Merchandise Sold $18, 470.00
Merchandise Inventory $18,470.00
To record receipt of check from Equinox Co
Date Account Titles and Explanation Debit Credit
Mar 12 Cash(20,000-200) $18,000
Cost of merchandise sold (20,000 x 1%) $ 200
Account Receivable-Equinox Co $20,000
To record cost of merchandise sold using American Express
Date Account Titles and Explanation Debit Credit
Mar 14 Cash $12,380
Sales $12,380
To record cost of merchandise sold on account
Cost of Merchandise Sold $9,120
Merchandise Inventory $9,120
To record merchandise sold on Account
Date Account Titles and Explanation Debit Credit
Mar 16 Accounts Receivable-Targhee Co $28,500
Sales $28,500
To record cost of merchandise sold on account
Cost of Merchandise Sold $14,690
Merchandise Inventory $14,690
To record credit memo for returned merchandise
Date Account Titles and Explanation Debit Credit
Mar 18 Sales $4,400.00
Accounts Receivable-Targhee Co $4,400.00
To record cost of merchandise sold on account
Cost of Merchandise Sold $2,910.00
Merchandise Inventory $2,910.00
To record merchandise sold on Account
Date Account Titles and Explanation Debit Credit
Mar 19 Accounts Receivable- Vista Co $7,400
Sales $7,400
To record cost of merchandise sold on account
Cost of Merchandise Sold $4,630
Merchandise Inventory $4,630
To record freight charges on behalf of Vista Co
Accounts Receivable- Vista Co $55.00
Cash $55.00
To record transaction of receipt of check from Targhee Co(
Date Account Titles and Explanation Debit Credit
Mar 26 Cash (24,100 - 241) $23,859
Cost of merchandise sold(24,100 x1%) $241
Account Receivable-Targhee Co(28,500 -4,400) $24,100
To record transaction of receipt of check from Vista co
Date Account Titles and Explanation Debit Credit
Mar 28 Cash(7455-149.1) $7,305.00
Sales Discount (2% x $7455) $149.10
Account Receivable-Vista Co $7,400 +55) $7,455
To record transaction of receipt of check from Empire Co
Date Account Titles and Explanation Debit Credit
Mar 31 Cash $51,450.00
Account Receivable- Empire Co $51,450.00
To record payment of delivery for mechandise
Date Account Titles and Explanation Debit Credit
Mar 31 Delivery Expenses $5,100.00
Cash $5,100.00
To record p[payment of service charges to BANK
Apr 3 Credit card Expenses $850
Cash $850
To record payment of Sales Tax Division
Apr 15 Sales Tax Payable $6,212
Cash $6,212
