apter 7 Homework 1. 5 Elegant Dining sells china, glassware, and other gift items that are subject to an 8 percent sales tax. The shop uses a general journal and a sales journal similar to those illustrated in this chapter. All customers have payment terms of n/30. nts eBook DATE TRANSACTIONS Nov. 1 Sold china to Paola Jimenez; issued Sales Slip 1001 for $1,250 plus $100 sales tax. 5 Sold a brass serving tray to Janet Hutchison; issued Sales Slip 1002 for $1,850 plus $148 sales tax. 6 Sold a vase to Charles Brown; issued Sales Slip 1003 for $450 plus $36 sales tax. 10 Sold a punch bowl and glasses to Terri Namala; issued Sales Slip 1004 for $1,450 plus $116 sales tax. 14 Sold a set of serving bowls to Dorothy Watts; issued Sales Slip 1005 for $300 plus $24 sales tax. 17 Gave Terri Namala an allowance because of a broken glass discovered when unpacking the punch bowl and glasses sold on November 10, Sales Slip 1004; issued Credit Memorandum 102 for $176.00, which includes sales tax of $13. 21 Sold a coffee table to Teresa Yup issued Sales Slip 1006 for $2,950 plus $236 sales tax. 24 Sold sterling silver teaspoons to Hank O'Connor, issued Sales Slip 1007 for $350 plus $28 sales tax. 25 Gave Teresa Yu an allowance for scratches on her coffee table sold on November 21, Sales Slip 1006; issued Credit Memorandum 103 for $396, which includes $29 in sales tax. 30 Sold a clock to Elena Bratianu; issued Sales Slip 1008 for $3,550 plus $284 sales tax. Required: 1. Record the transactions for November in the proper journal. 2. Post to the accounts receivable ledger. 3. Post the amounts from the general journal daily. Post the sales journal amount as a total at the end of the month. 4. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule. Print References Analyze Which customer has the highest balance owed at November 30? Complete this question by entering your answers in the tabs below. Sales Journal General Journal Ledger Accounts Schedule of Acct Rec Analyze Which customer has the highest balance owed at November 30? Highest balance owed Saraw apter 7 Homework 1. 5 Elegant Dining sells china, glassware, and other gift items that are subject to an 8 percent sales tax. The shop uses a general journal and a sales journal similar to those illustrated in this chapter. All customers have payment terms of n/30. nts eBook DATE TRANSACTIONS Nov. 1 Sold china to Paola Jimenez; issued Sales Slip 1001 for $1,250 plus $100 sales tax. 5 Sold a brass serving tray to Janet Hutchison; issued Sales Slip 1002 for $1,850 plus $148 sales tax. 6 Sold a vase to Charles Brown; issued Sales Slip 1003 for $450 plus $36 sales tax. 10 Sold a punch bowl and glasses to Terri Namala; issued Sales Slip 1004 for $1,450 plus $116 sales tax. 14 Sold a set of serving bowls to Dorothy Watts; issued Sales Slip 1005 for $300 plus $24 sales tax. 17 Gave Terri Namala an allowance because of a broken glass discovered when unpacking the punch bowl and glasses sold on November 10, Sales Slip 1004; issued Credit Memorandum 102 for $176.00, which includes sales tax of $13. 21 Sold a coffee table to Teresa Yup issued Sales Slip 1006 for $2,950 plus $236 sales tax. 24 Sold sterling silver teaspoons to Hank O'Connor, issued Sales Slip 1007 for $350 plus $28 sales tax. 25 Gave Teresa Yu an allowance for scratches on her coffee table sold on November 21, Sales Slip 1006; issued Credit Memorandum 103 for $396, which includes $29 in sales tax. 30 Sold a clock to Elena Bratianu; issued Sales Slip 1008 for $3,550 plus $284 sales tax. Required: 1. Record the transactions for November in the proper journal. 2. Post to the accounts receivable ledger. 3. Post the amounts from the general journal daily. Post the sales journal amount as a total at the end of the month. 4. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule. Print References Analyze Which customer has the highest balance owed at November 30? Complete this question by entering your answers in the tabs below. Sales Journal General Journal Ledger Accounts Schedule of Acct Rec Analyze Which customer has the highest balance owed at November 30? Highest balance owed Saraw
