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Summary posting from the sales journal normally would be completed in which of the following orders? a.Sales, Sales Tax Payable, and Accounts Receivable columns b.Sales Tax Payable, Sales, and Accounts Receivable columns c.Accounts Receivable, Sales, and Sales Tax Payable columns d.Accounts Receivable, Sales Tax Payable, and Sales columns

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Answer: d.Accounts Receivable, Sales Tax Payable, and Sales columns

Explanation:

The Sales journal is used to record sales made on credit to the firm's customers. In posting in the sales journal, the proper format is to;

  • Post the amount including the sales tax in the Accounts Receivables Debit Column
  • Post the Sales tax to the Sales Tax Payable Credit column
  • The lastly post the Sales figure net of tax to the Sales Credit Column.

d. Accounts Receivable, Sales Tax Payable, and Sales columns

The following information should be considered:

  • The Sales journal is applied to record sales made on credit to the customers.
  • In posting in the sales journal, the proper format is to;

Post the amount that involved the sales tax in the Accounts Receivables Debit Column

Then Post the Sales tax to the Sales Tax Payable Credit column

And, at last post the Sales figure net of tax to the Sales Credit Column.

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