Answer to Question #292119 in Accounting for Brai

Question

​Aug​2​Sold goods to Mwereka Traders in the amount of shs. 850,000 on account, invoice No. 331.

​​3​Sold goods to Pata Potea in the amount of shs. 145,000 for cash.

​​9​Sold goods on credit to Akika in the amount of shs. 4,350,000 invoice no. 332.

​​12​Collected amount due from Mwereka Traders.

​​15​Sold goods to Dalali Kombo on account for shs. 1,500,000 invoice no. 333.

​​18​Miscellaneous cash sales for the day amounted to shs. 333,000.

​​22​Collected amount due from Akika.

​​25​Collected the amount due from Dalali Kombo.

​​27​Sold goods on credit to Chekanao Enterprises in the amount of shs. 4,000,000 invoice No. 334.

​​28​Sold goods on account to Tatunane Motors amounting to shs. 750,000 invoice no. 335.

​Required:

​Using a Sales Journal and a Cash Receipts Journal as illustrated in the chapter record the preceding transactions for the month of August 200X; and post to the respective ledgers.

Answer 1

Solution:

The Sales Journal and Cash Receipts Journal are as follows: