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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
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 TRANSACTIONS DATE 2019 Sept. 1 Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $3,100 plus sales tax of $217. 3 Sold stereo equipment on credit to Jim Peterson; issued Sales Slip 102 for $800 plus sales tax of $56 Slip 103 for $300 plus sales tax of $21. issued Credit Memorandum 101 for $100 plus sales tax of $7. The stereo 7 Sold a microwave oven on credit to Bridgette Huffman; issued Sales 12 Accepted return of defective stereo equipment from Jim Peterson; 15 Recorded cash sales for the period from September 1 to September 15 of 16 Sold a gas dryer on credit to Kathy Sundstrand; issued Sales Slip 104 17 Sold a home entertainment system on credit to Mark Navalta; issued 18 Received $770 from Candy Cho on account. equipment was sold on September 3. $9,100 plus sales tax of $637 for $600 plus sales tax of $42 Sales Slip 105 for $2,100 plus sales tax of $147 20 Received payment in full from Jim 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 27 Received payment in full from Bridgette Huffman for the sale of 29 Sold a dishwasher on credit to Mark Navalta; issued Sales Slip 106 for 30 Recorded cash sales for the period from September 16 to September 30 Credit Memorandum 102 for $100 plus sales tax of $7. September 7 $400 plus sales tax of $28. of $11,800 plus sales tax of $826. Required: Record the transactions in a general journal
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