The Fishing Store began operations January 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 January, The Fishing Store engaged in the following transactions: DATE TRANSACTIONS 20X1 January 2 Sold merchandise on credit to Susie Jones; issued Sales Slip 101 for $250 plus sales tax. 5 Sold merchandise on credit to Johnny Timms; issued Sales Slip 102 for $450 plus sales tax. 6 Sold merchandise on credit to Chris McDaniel; issued Sales Slip 103 for $1,245 plus sales tax. 28 Received a check from Johnny Timms of $330 to apply toward his account. 30 Received payment in full from Susie Jones for the sale on January 2. Required: 2. Record the transactions in a general journal. 3. Post the entries from the general journal to the appropriate general ledger accounts and respectable subsidiary accounts.

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