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Exceptional Electronics began operations September 1 , 2 0 X 1 . The firm sells its merchandise for cash and on open account. Sales are
Exceptional Electronics began operations September X The firm sells its merchandise for cash and on open account. Sales are subject to a percent sales tax. The terms for all sales on credit are net During September, Exceptional Electronics engaged in the following transactions.
DATE TRANSACTIONS
X
Sept. Sold a highdefinition television set on credit to Candy Cho; issued Sales Slip for $ plus sales tax of $
Sold stereo equipment on credit to Jim Peterson; issued Sales Slip for $ plus sales tax of $
Sold a microwave oven on credit to Bridgette Huffman; issued Sales Slip for $ plus sales tax of $
Accepted return of defective stereo equipment from Jim Peterson; issued Credit Memorandum for $ plus sales tax of $ The stereo equipment was sold on September
Recorded cash sales for the period from September to September of $ plus sales tax of $
Sold a gas dryer on credit to Kathy Sundstrand; issued Sales Slip for $ plus sales tax of $
Sold a home entertainment system on credit to Mark Navalta; issued Sales Slip for $ plus sales tax of $
Received $ from Candy Cho on account.
Received payment in full from Jim Peterson for the sale of September less the return of September
Gave Mark Navalta an allowance because of scratches on his home entertainment system sold on September Sales Slip ; issued Credit Memorandum for $ plus sales tax of $
Received payment in full from Bridgette Huffman for the sale of September
Sold a dishwasher on credit to Mark Navalta; issued Sales Slip for $ plus sales tax of $
Recorded cash sales for the period from September to September of $ plus sales tax of $
GENERAL LEDGER ACCOUNTS
Cash Sales
Accounts Receivable Sales Returns and Allowances
Sales Tax Payable
ACCOUNTS RECEIVABLE LEDGER ACCOUNTS
Candy Cho Jim Peterson
Bridgette Huffman Kathy Sundstrand
Mark Navalta
Required:
Post the entries from the general journal into the appropriate accounts in the general ledger and in the accounts receivable ledger.
Prepare a schedule of accounts receivable.Ledgers
AR
Post the entries from the general journal into the appropriate accounts in the general ledger and in the accounts receivable ledger.
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