The Milk Co

question 58

Essay

The Milk Co. had the following transactions involving the sale of merchandise. You are to prepare the necessary general journal entries. All sales are subject to a 6% sales tax. Terms of sale were n/30.
April 13 Sold merchandise priced at $600 to James Ellsworth on account.
April 14 Sold merchandise priced at $325 to a cash customer.
April 15 Sold merchandise priced at $175 to Dana Carter on account.
April 16 Sold merchandise priced at $700 to a cash customer.
April 20 The customer of April 14 returned $50 worth of merchandise for a cash refund.
April 25 Received full payment from Dana Carter.
April 30 Paid the amount of sales tax to the state.
-Prepare the necessary general journal entry for April 16.
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