Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check Exceptional Electronics began operations September 1, 2019. The firm sells its merchandise for cash and on open account Sales are subject to a 7

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Check Exceptional Electronics began operations September 1, 2019. The firm sells its merchandise for cash and on open account Sales are subject to a 7 percent sales tax. During September, Exceptional Electronics engaged in the following transactions: -28 56 DATE TRANSACTIONS 2019 Sept. 1 Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $2,200 plus sales tax of $154. 3 sold stereo equipment on credit to Jim Peterson; issued Sales Slip 102 for $800 plus sales tax of $56. 7 Sold a microwave oven on credit to Bridgette Huffman; issued Sales Slip 103 for $400 plus sales tax of $28. 12 Accepted return of defective stereo equipment from Jim Peterson; issued Credit Memorandum 101 for $100 plus sales tax of $7. The stereo equipment was sold on September 3. 15 Recorded cash sales for the period from September 1 to September 15 of $10,600 plus sales tax of $742. 16 Sold a gas dryer on credit to Kathy Sundstrand; issued Sales slip 104 for $700 plus sales tax of $49. 17 Sold a home entertainment system on credit to Mark Navalta; issued Sales Slip 105 for $2,200 plus sales tax of $154. 18 Received 5680 from Candy Cho on account. 20 Received payment in full from in Peterson for the sale of September 3, less the return of September 12. 25 Gave Mark Navalta an allowance because of scratches on his home entertainment system sold on September 17, Sales Slip 105, issued Credit Memorandum 102 for $300 plus sales tax of $21. 27 Received payment in full from Bridgette Huffman for the sale of September 7. 29 Sold a dishwasher on credit to Hark Navalta; issued Sales Slip 106 for $500 plus sales tax of $35. 1 LEIL VERULE 2 3 4 5 on 7 8 13 8 02:28:43 Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $2,200 plus sales tax of $154. Note: Enter debits before credits. General Journal Debit Credit Date Sept 01.2019 Record entry Clear entry View general Journal Analyze 2 Check my work Big Country Ski Shop is a retail store that sells ski equipment and clothing Big Country Ski Shop commenced business on September 1, 2019. The firm purchases merchandise on open account. The firm's purchases, purchase returns and allowances, and cash payments on account during September 2019 follow 02.2002 DATE TRANSACTIONS 2019 Sept. 2 Purchased ski boots for $5,000 plus a freight charge of $150 from Colorado Ski Shop, Invoice 6672, terasa/3. 3 Purchased skis for $10.600 from Alaska Supply Company, Invoice 5916; teras 3/10, 1/3. 7 Received Credit Memorandum 165 for $4 from Colorado Ski Shop for return of damaged ski boots, the boots were originally purchased September 2 on Invoice 6672 11 Purchased ski Jackets for $3,400 from Cold Mountain Clothing Company, Invoice 4091, teras n/30. 12 Issued Check 104 to Alaska Supply Company in payment of Invoice 5916, dated September 3, less the cash discount. 22 Purchased ski poles for $3,160 plus . freight charge of $200 from Alaska Supply Company, Invoice 5950, teras 3/10, 1/30 23 Purchased ski pants for $1,650 from Swenson Ski Goods, Invoice 528, terus n/30 25 Received Credit Memorandus 245 for 5240 from Sunson Ski Goods for return of defective ski pants the pants were originally purchase September 23 Invoice 520 27 Purchased sk sweaters for 54,200 plus freight charge of $150 from Colorado Ski Shop, Invoice 6722, terus n/30. 30 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7 Required: Record the transactions in a general journal Next > 1 2 4 5 7 8. 13 > 8 02:28:43 Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $2,200 plus sales tax of $154. Note: Enter debits before credits General Journal Debit Credit Date Sept 01.2019 Record entry Clear enty View general journal nent #2 Saved Help Save & Exit Check Exceptional Electronics began operations September 1, 2019. The firm sells its merchandise for cash and on open account. Sales are subject to a 7 percent sales tax. During September, Exceptional Electronics engaged in the following transactions: -28 56 DATE TRANSACTIONS 2019 Sept. 1 Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $2,200 plus sales tax of $154. 3 Sold stereo equipment on credit to Jim Peterson; issued Sales Slip 102 for 5800 plus sales tax of $56. 7 Sold a microwave oven on credit to Bridgette Huffman; issued Sales Slip 103 for $400 plus sales tax of $28. 12 Accepted return of defective stereo equipment from Jim eterson issued Credit Memorandum 101 for $100 plus sales tax of $7. The stereo equipment was sold on September 3. 15 Recorded cash sales for the period from September 1 to September 15 of $10,600 plus sales tax of $742. 16 Sold a gas dryer on credit to Kathy Sundstrand; issued Sales slip 104 for $700 plus sales tax of $49. 17 Sold a home entertainment system on credit to Mark Navalta; issued Sales Slip 105 for $2,200 plus sales tax of $154. 18 Received $680 from Candy Cho on account. 20 Received payment in full from Jin Peterson for the sale of September 3, less the return of September 12. 25 Gave Mark Navalta an allowance because of scratches on his home entertainment system sold on September 17, Sales Slip 105; issued Credit Memorandum 102 for $300 plus sales tax of $21. 27 Received payment in full from Bridgette Huffnan for the sale of September 7 29 Sold a dishwasher on credit to Hark Navalta; issued Sales Slip 106 for $500 plus sales tax of $35. 1 SUMER WIE WEVELIU 2 3 4 5 6 7 8 ..... 13 > 8 0228:43 Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $2,200 plus sales tax of $154. Note: Enter debits before credits Date General Journal Debit Credit Sept 01.2019 Record entry Clear entry View general journal 2 Check my work Big Country Ski Shop is a retail store that sells ski equipment and clothing. Big Country Ski Shop commenced business on September 1, 2019. The firm purchases merchandise on open account. The firm's purchases, purchase returns and allowances, and cash payments on account during September 2019 follow 02 200 DATE TRANSACTIONS 2019 Sept. 2 Purchased ski boots for 55,000 plus a freight charge of $150 from Colorado Ski Shop, Invoice 6672, teras n/30 3 Purchased skis for $10,600 from Alaska Supply Company, Invoice 5916; teras 3/10, 1/30 7 Received Credit Memorandum 165 for $10 from Colorado Ski Shop for return of damaged ski boots the boots were originally purchased September 2 on Invoice 6672 11 Purchased ski Jackets for $3,400 from Cold Mountain Clothing Company, Involce 4091, teras 1/30 12 Issued Check 104 to Alaska Supply Company in payment of Invoice 5916, dated September 3, less the cash discount 22 Purchased ski poles for $3,160 plus freight charge of $200 froe Alaska Supply Company, Invoice 5950, teras 3/10, 1/30 23 Purchased ski pants for $1,650 from Suenson Sal Goods, Invoice 528, ter 1/30 25 Received Credit Herrand 245 for $240 froe Sunson St Good for return of defective skipass the ants originally purchased September 25 Invece 520 27 Purchased Sweaters for $4,200 plus freight charge of $10 free Colorado Ski Shop, Invoice 6722, terw/30 30 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September Required: Record the transactions in a general Journal Sduo 2 Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Process Auditing Techniques Guide

Authors: J. P. Russell

1st Edition

0873895959, 978-0873895958

Students also viewed these Accounting questions

Question

2. What are the different types of networks?

Answered: 1 week ago