175. On March 25, 2010, Patton Company sold merchandise on account,$4,500.00. The applicable sales tax percentage is 7.25%. Record the transaction.
Journal
Date
Description
Post Ref
Debit
Credit
176. On March 29th, customers who owe $10,500.00 for purchases made on Sonic Sales Company credit cards submit payments of $4,250.00. Journalize this event.
177. Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period.
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