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Exceptional Electronics began operations September 1, 20X1. The firm sells its merchandise for cash and on open account. Sales are subject to a 7 percent
Exceptional Electronics began operations September 1, 20X1. The firm sells its merchandise for cash and on open account. Sales are subject to a 7 percent sales tax. The terms for all sales on credit are net 30. During September. Exceptional Electronics engaged in the following transactions: DATE September 1,201 September 3,21 September 7,21 September 12,201 September 15,201 September 16,201 September 17,201 September 18,21 September 2,21 September 25,201 September 27,21 September 29,21 September 3,21 TRANSACTIONS Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $3, 0 plus sales tax of $21. Sold stereo equipment on credit to Jim Peterson; issued Sales Slip 102 for $900 plus sales tax of $63. Sold a microwave oven on credit to Bridgette Huffman; issued Sales Slip 103 for \$200 plus sales tax of \$14. Accepted return of defective stereo equipment from Jim Peterson; issued Credit Memorandum 101 for $10 plus sales tax of $7. The stereo equipment was sold on September 3. Recorded cash sales for the period from September 1 to September 15 of $9,200 plus sales tax of $644. sold a gas dryer on credit to Kathy Sundstrand; issued Sales slip 104 for $500 plus sales tax of $35. Sold a home entertainment system on credit to Mark Navalta; issued Sales slip 105 for $2, e plus sales tax of $140. Received $76 from Candy Cho on account. Received payment in full from Jim Peterson for the sale of September 3, less the return of September 12. Gave Mark Navalta an allowance because of scratches on his home entertainment system sold on September 17, Sales Slip 195; issued Credit Memorandum 192 for $20 plus sales tax of $14. Received payment in full from Bridgette Huffman for the sale of September 7. sold a dishwasher on credit to Mark Navalta; issued Sales Slip 106 for $600 plus sales tax of $42. Recorded cash sales for the period from September 16 to September 39 of $11,700 plus sales tax of $819. Requlred: Record the transactions in a general journal. Anelyze: What portion of the net sales during September were for entertainment items? None of the cash sales included entertainment items. Complete this question by entering your answers in the tabs below. Record the transactions in a general journal. Complete this question by entering your answers in the tabs below. Record the transactions in a general journal. Journal entry worksheet Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $3,000 plus sales tax of $210. Note: Enter debits before credits
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