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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
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 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 $66. 15 Recorded cash sales for the period from March 1 to March 15 of $7,000 plus sales tax of $420. 25 Sold merchandise on credit to Brian Cooley; issued Sales Slip 104 for $850 plus sales tax of $51. 28 Received a check from Castor Phan of $160 to apply toward his account. 31 Recorded cash sales for the period from March 16 to March 31 of $3,900 plus sales tax of $234. 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. Analyze: What were the total cash receipts during March? 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 merchandise on credit to Dave Allen; issued Sales Slip 101 for $600 plus sales tax of $36. Journal entry worksheet Sold merchandise on credit to Dave Allen; issued Sales Slip 101 for $600 plus sales tax of $36. Note: Enter debits before credits. Journal entry worksheet Sold merchandise on credit to Castor Phan; issued Sales Slip 102 for $900 plus sales tax of $54. Note: Enter debits before credits. Journal entry worksheet Sold merchandise on credit to Chris Hughes; issued Sales Slip 103 for $1,100 plus sales tax of $66. Note: Enter debits before credits. Journal entry worksheet 8 Recorded cash sales for the period from March 1 to March 15 of $7,000 plus sales tax of $420. Note: Enter debits before credits. Journal entry worksheet Sold merchandise on credit to Brian Cooley; issued Sales Slip 104 for $850 plus sales tax of $51. Note: Enter debits before credits. Journal entry worksheet $160 to apply toward his account. Note: Enter debits before credits. Journal entry worksheet Recorded cash sales for the period from March 16 to March 31 of $3,900 plus sales tax of $234. Note: Enter debits before credits. Journal entry worksheet 1 Received payment in full from Dave Allen for the sale of March 1. Note: Enter debits before credits. Post the entries from the general journal to the appropriate general ledger accounts. Analyze: What were the total cash receipts during March? Complete this question by entering your answers in the tabs below. What were the total cash receipts during March
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