Problem 71A (Algo) Recording sales and cash receipts for a retail store. LO 7-1, 7-4 The Appliance Store began operations March 1, 20x1 The firm sells its merchandise for cash and on open account Sales are subject to a 6 percent sales tax. The terms for all sales on credit are net 30. During March. The Appliance Store engaged in the following transactions DATE TRANSACTIONS 201 March 1 Sold merchandise on credit to Dave Allen; Issued Sales Slip 101 for $600 plus sales tax of $36. 4 Sold merchandise on credit to Castor PhanIssued Sales Slip 102 for $900 plus sales tax of $54 12 Sold merchandise on credit to Chris Hughes: Issued Sales Slip 103 for $1,100 plus sales tax of $66. 15 Recorded cash sales for the period from March 1 to March 15 of 57,600 plus sales tax of 3456. 25 Sold merchandise on credit to Brian Cooley: Issued Sales Slip 104 for $850 plus sales tax of 551. 28 Received a check from Castor Phan of $220 to apply toward his account. 31 Recorded cash sales for the period from March 16 to March 31 of $4,500 plus sales tax of $270. 31 Received payment in full from Dave Allen for the sale of March 1. Required: 2. Record the transactions in a general journal 3. Post the entries from the general journal to the appropriate general ledger accounts GENERAL LEDGER ACCOUNTS 101 Cash 211 Accounts Receivable 221 Sales Tax Payable 401 Sales Analyze: What were the total cash receipts during March? Complete this question by entering your answers in the tabs below. General Journal General Ledgers Analyze Post the entries from the general journal to the appropriate general ledger accounts. Cash Account No. 101 Credit Balance Accounts Receivable Date Debelt Account No. 111 Credit Balance Debit Date Mar 15, 20X1 Sales Sales Tax Payable Date Debit Account No. 221 Credit Balance Account No. 401 Credit Balance Date Debit The Appliance Store began operations March 1, 20X1. The firm sells its merchandise for cash and on open account Sales are subject to a 6 percent sales tax. The terms for all sales on credit are net 30. During March, The Appliance Store engaged in the following transactions DATE TRANSACTIONS 20x1 March 1 sold merchandise on credit to Dave Allen; issued Sales Slip 101 for $600 plus sales tax of $36. 4 Sold merchandise on credit to Castor Phan issued Sales Slip 102 for $900 plus sales tax of $54. 12 Sold merchandise on credit to Chris Hughes, issued Sales Slip 103 for $1,100 plus sales tax of 566. 15 Recorded cash sales for the period from March 1 to March 15 of 57,600 plus sales tax of $456. 25 Sold merchandise on credit to Brian Cooley: Issued Sales Slip 104 for $ase plus sales tax of 551. 28 Received a check from Castor Phan of $220 to apply toward his account. 31 Recorded cash sales for the period from March 16 to March 31 of $4,500 plus sales tax of $270. 31 Received payment in full from Dave Allen for the sale of March 1. Required: 2 Record the transactions in a general Journal 3. Post the entries from the general Journal to the appropriate general ledger accounts. GENERAL LEDGER ACCOUNTS 101 Cash 111 Accounts Receivable 221 Sales Tax Payable 401 Sales Analyze: What were the total cash receipts during March? Complete this question by entering your answers in the tabs below. General General Journal Analyze Ledgers What were the total cash receipts during March? Cash receipts