1. Sold merchandise to a customer on account, customer is tax exempt

2. DR AR CR CR SALES

3. Received a check from a customer paying on their account less a discount

4. DR CASH DR SALES DISCOUNTS CR AR

5. Received cash from the sale of an asset

6. DR CASH CR ASSET

7. A customer bought merchandise on account; customer was taxable

8. DR AR CR SALES CR SALES TAXABLE

9. Record cash sales of merchandise for the day including sales tax

10. DR CASH CR SALES TAX PAYABLE CR SALES

11. Received a check from a customer paying on their account

12. DR CASH CR AR

13. Sold merchandise to a customer on account, customer is tax exempt

14. DR AR CR SALES

15. Record bankcard sales of merchandise for the day from a tape including sales tax

16. DR CASH CR SALES TAX PAYABLE CR SALES

17. Issued a credit memorandum to a customer for merchandise returned; original sales included sales tax

18. DR SALES RETURNS & ALLOWANCES DR SALES TAX PAYABLE CR AR

19. Issued a check to purchase merchandise at the time of the purchase

20. DR PURCHASES CR CASH

21. Issued a check to purchase office supplies at the time of purchase

22. DR OFFICE SUPPLIES CR CASH

23. Record the payment of transportation in charges

24. DR TRANSPORTATION CHARGES CR CASH

25. Purchased office equipment on account

26. DR Office Equipment CR AP

27. Issued a check to pay on account

28. DR AP CR CASH

29. Record the payment of an advertising expense

30. DR ADVERTISING EXPENSE CR CASH

31. Record bankcard fees

32. DR BANKARD FEES CR CASH

33. Purchased merchandise on account

34. DR PURCHASES CR AP

35. Record a repair expense that was performed for your business on account at the time of the repair

36. DR REPAIR EXPENSES CR AP

37. Record a payment on account

38. DR AP CR CASH

39. Issued a debit memorandum to a creditor for merchandise returned

40. DR AP CR PURCHASES Returns & Allowances

41. Record the payment on account less a discount

42. DR – AP CR – CASH CR – PURCHASE DISCOUNTS

43. Record the purchase of prepaid insurance with a check

44. DR PREPAID INSURANCE CR CASH

45. CALCULATE NET SALES

46. SALES -SALES DISCOUNTS -SALES RETURNS & ALLOWANCES =NET SALES

47. CALCULATE NET PURCHASES

48. PURCHASES +TRANSPORTATION IN -PURCHASES DISCOUNTS - PURCHASES RETURNS & ALLOWANCES =NET PURCHASES