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Information included in the screenshot. Towncenter Furniture specializes in modern living room and dining room furniture. Merchandise sales are subject to an 8 percent sales

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Towncenter Furniture specializes in modern living room and dining room furniture. Merchandise sales are subject to an 8 percent sales tax. The rm's credit sales and sales returns and allowances for February 20x1 are reected below. along with the general ledger accounts used to record these transactions. The balances shown are for the beginning of the month. DATE Feb. 2? 23 2B TRMSACTIONS Sold a living room safe to Sun You; issued Sales Slip 1615 for $4,?B plus sales tax of $383.26. Sold three recliners to Jacqueline Moore: issued Sales Slip 1616 for $2,355 plus sales tax of $138. Sold a dining room set to Hazel Tran; issued Sales Slip 161? for $6.556 plus sales tax of 5524. Accepted a return of one damaged recliner from Jacqueline Moore that was originally sold on Sales Slip 1516 of February 5: issued Credit Memorandum 162 for $1,626, which includes sales tax of $76.33. Sold living room tables and bookcases to Ann Brown: issued Sales Slip 1613 for $9,558 plus sales tax of $764. Sold eight dining room chairs to Domingo Salas: issued Sales Slip 1619 for $3,656 plus sales tax of $292. Gave Ann Brown an allowance for scratches on her bookcases; issued Credit Memorandum T53 for $?62, which includes sales tax of $52; the bookcases were originally sold on Sales Slip 1518 of February 1?. Sold a living room sofa and four chairs to Jose Saucedo: issued Sales Slip 1523 for 54,225 plus sales tax of $333 . Sold a dining room table to Mimi Yuki: issued Sales Slip 1521 for 52,656 plus sales tax of $154. Sold a living room modular wall unit to Alan Baker: issued Sales Slip 1622 for $3,966 plus sales tax of $312. GENERAL LEDGER ACCOUNTS 111 Accounts Receivable, $16,636 Dr. 231 Sales Tax PayableII $?,2? Cr. 461 Sales 451 Sales Returns and Allowances Required: 1. Open the general ledger accounts and enter the balances for February 'I. m N il It Analyze: . Record the transactions in a sales journal and in a general journal. . Post the entries from the general journal to the general ledger. . Total and prove the sales journal as of February 28. . Post the column totals from the salesjournal. . Prepare the heading and the Revenue section of the rm's income statement for the month ended February 28, 20x1. Based on the beginning balance of the Sales Tax Payable account. what was the amount of net sales for January? (Hint: Sales tax returns are led and paid to the state quarterly}

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