Click Here to Download this Answer Instantly

Comprehensive Problem 2: Accounting Cycle with Subsidiary Ledgers, Part 1 During the second half of December 20-1, TJ’s Specialty Shop engaged in the following transactions:

Dec. 16 Received payment from Lucy Greene on account, $1,960.

16 Sold merchandise on account to Kim Fields, $160, plus sales tax of $8.SaleNo. 640.

17 Returned merchandise to Evans Essentials for credit, $150.

18 Issued Check No. 813 to Evans Essentials in payment of December 1 balance of $1,250, less the credit received on December 17.

19 Sold merchandise on account to Lucy Greene, $620, plus tax of $31.SaleNo. 641.