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The Elegant Table sells china, glassware, and other gift items that are subject to an 8 percent sales tax. The shop uses a general journal and a sales journal similar to those illustrated in this chapter All customers have payment terms of n/30. DATE TRMNSACtIONS Nov. I Sold china to Pauline Judge; issued Sales slip 1001 for $1,425 plus $114 sales tax. 5 Sold a brass serving tray to Janet Hutchison; issued Sales 51 ip 1002 for $2, 025 plus $162 sales tax. 6 5old a vase to Charles Brown; Issued Sales siip 1003 for $625 plus $50 sales tax. 10 Sold a punch bowl and glasses to Lisa Morgan; issued Sales S1ip 10e4 for $1,625 plus $130 soles tax. 14 Sold a set of serving bowls to Dorothy Matts; issued Sales slip 1005 for 5475 plus 538 sales tax. 17 Gave Lisa Margan an allowance because of a broken glass discovered when unpacking the punch bow 1 and glasses sold on November 10, Sales s1ip 1004) issued Credit Menorandue 102 for \$168, which includes sales tax of 313. 21 Sold a coffee table to Teresa Yu; issued Sales s1ip 1006 for $3,125 plus $250 sales tax. 24 Sold sterling silver teaspoons to Menry Okafor; issued Sales s1ip 1007 for s525 plus $42 sales tax. 25 Gave Teresa ru an allowance for scratches on her coffee table sold on November 21, Sales Slip 1006; issued Credit Menorandue 103 for $384, which includes 329 in sales tax. 30 sold a clock to Elaine brock; issued sales sip1008 for 33,725 plus $298 sales tax. Required: 1. Record the transactions for November in the proper journal. 2. Post to the accounts receivable ledger. 3. Post the amounts from the general journal daily. Post the sales journal amount as a total at the end of the month. 4. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule. Analyze: Which customer has the highest balance owed at November 30 ? Prepare a sales journal to record the above transactions. Journal entry worksheet Record the first entry required in the general journal. Note: Enter debits before credits. Journal entry worksheet Record the second entry required in the general journal. Note: Enter debits before credits. DED Homework (i) Swial ACCOUNT S RECEIVABLE SUBSIDIARY LEDGER Terms: n/30 Elaine Brock Terms: n/30 Charles Brown Balance Janet Hutchison Terms: n30 Pauline Judge Tems: ni30 THE ELEGANT TABLE Schedule of Accounts Receivable Which customer has the highest balance owed at November 30 ? Complete this question by entering your answers in the tabs below. Which customer has the highest balance owed at November 30
