Superior Appliances is a retail store that sells household appliances. Merchandise sales are subject to an 8 percent sales tax. The firms credit sales for July are listed below, along with the general ledger accounts used to record these sales. The balance shown for Accounts Receivable is for the beginning of the month.

DATE				TRANSACTIONS
July		1		Sold a dishwasher to John Martinez; issued Sales Slip 501 for $800 plus sales tax of $64.
		6		Sold a washer to Helen Thai; issued Sales Slip 502 for $2,075 plus sales tax of $166.
		11		Sold a high-definition television set to Richard Jones; issued Sales Slip 503 for $2,250 plus sales tax of $180.
		17		Sold an electric dryer to Mary Schneider; issued Sales Slip 504 for $925 plus sales tax of $74.
		23		Sold a trash compactor to Victoria Caramello; issued Sales Slip 505 for $550 plus sales tax of $44.
		27		Sold a home entertainment system to Jeff Budd; issued Sales Slip 506 for $1,375 plus sales tax of $110.
		29		Sold an electric range to Michelle Ly; issued Sales Slip 507 for $1,100 plus sales tax of $88.
		31		Sold a double oven to Peter McVay; issued Sales Slip 508 for $275 plus sales tax of $22.

GENERAL LEDGER ACCOUNTS

111	Accounts Receivable, $27,500 Dr.
231	Sales Tax Payable
401	Sales

Required:

1. Open the general ledger accounts and enter the balance of Accounts Receivable for July 1.
2. Record the transactions in a sales journal.
3. Total and prove the sales journal as of July 31.
4. Post the column totals from the sales journal to the proper general ledger accounts.

Analyze: What percentage of credit sales were for entertainment items?

Prepare a sales journal to record the above transactions.

SALES JOURNAL
Date	Sales Slip No.	Customer's Name	Accounts Receivable Debit	Sales Tax Payable Credit	Sales Credit
July 31, 20X1		Totals	$0	$0	$0

• Post the opening balances and column totals from the sales journal into the appropriate general ledger accounts for July 1.

Accounts Receivable		Account No: 111			Sales Tax Payable		Account No: 231
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
July 1, 20X1
Sales		Account No: 401
Date	Debit	Credit	Balance

What percentage of credit sales were for entertainment items? (Round your answer to 2 decimal places.)

Credit sales for entertainment items

%