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.

DATE			TRANSACTIONS
2019
Sept.	1		Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $1,900 plus sales tax of $133.
	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 $300 plus sales tax of $21.
	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 $10,300 plus sales tax of $721.
	16		Sold a gas dryer on credit to Kathy Sundstrand; issued Sales Slip 104 for $600 plus sales tax of $42.
	17		Sold a home entertainment system on credit to Mark Navalta; issued Sales Slip 105 for $1,900 plus sales tax of $133.
	18		Received $650 from Candy Cho on account.
	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 Credit Memorandum 102 for $100 plus sales tax of $7
	27		Received payment in full from Bridgette Huffman for the sale of September 7
	29		Sold a dishwasher on credit to Mark Navalta; issued Sales Slip 106 for $400 plus sales tax of $28.
	30		Recorded cash sales for the period from September 16 to September 30 of $10,600 plus sales tax of $742.

GENERAL LEDGER ACCOUNTS

Prepare a schedule of accounts receivable.

101

Cash

401

Sales

111

Accounts Receivable

421

Sales Returns and Allowances

221

Sales Tax Payable

GENERAL LEDGER ACCOUNTS

101	Cash		401	Sales
111	Accounts Receivable		421	Sales Returns and Allowances
221	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.

Analyze: What is the amount of sales tax owed at September 30, 2019

General Ledgers

Schedule of AR

Analyze

Post the entries from the general journal into the appropriate accounts in the general ledger and in the accounts receivable ledger.

GENERAL LEDGER
Cash		Account No. 101			Accounts Receivable		Account No. 111
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Sales Tax Payable		Account No. 221			Sales		Account No. 401
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Sales Returns and Allowances		Account No. 421
Date	Debit	Credit	Balance
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Candy Cho					Bridgette Huffman
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Mark Navalta					Jim Peterson
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance

Prepare a schedule of accounts receivable.

EXCEPTIONAL ELECTRONICS
Schedule of Accounts Receivable
September 30, 2019
Candy Cho
Bridgette Huffman
Mark Navalta
Jim Peterson
Kathy Sundstrand
Total	$0

What is the amount of sales tax owed at September 30, 2019?

Sales tax owed