General Journal Entry QUANTITY DESCRIPTION UNIT PRICE TOTAL 10 Paddle BoardGeneral Journal Entry QUANTITY DESCRIPTION UNIT PRICE TOTAL 10 Paddle Board $1,200.00 $12,000.00 20 Body Board $660.00 $13,200.00 Payment Received ($12,600.00) TOTAL DUE $12,600.00Answer & ExplanationTo record the transactio...
General Journal Entry QUANTITY DESCRIPTION UNIT PRICE TOTAL 10
Paddle Board $1,200.00 $12,000.00 20 Body Board $660.00 $13,200.00
Payment Received ($12,600.00) TOTAL DUE $12,600.00
Answer & Explanation
To record the transactions in a general journal, we need to make entries for the
sale of paddle boards and body boards, as well as the payment received. Here's
how you can structure these journal entries:
1. Record the Sale of Paddle Boards:
o Date: [Enter Date]
o Account Debit: Accounts Receivable $12,000
o Account Credit: Sales Revenue $12,000
Explanation: This entry records the sale of 10 paddle boards at $1,200 each. The
total sales revenue is credited because it increases revenue.
2. Record the Sale of Body Boards:
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