Town center furniture specializes in modern living room and dining room furniture merchandise sales are subject to an 8% sales tax the firms credit sales and sales returns and allowances for February 2019 are reflected below along with the general ledger account used to record these transactions the balance is shown are for the beginning of the month

Towncenter Furniture specializes in modern living room and dining room furniture. Merchandise sales are subject to an 8 percent sales tax. The firm's credit sales and sales returns and allowances for February 2019 are reflected below, along with the general ledger accounts used to record these transactions. The balances shown are for the beginning of the month. DATE TRANSACTIONS Teb 1 Sold a living room sofa to Sun Yoo; issued Sales Slip 1615 for $4,715 plus sales tax of $277.20. 5 Sold the real to Jacqueline Moore; sed sales slip 1616 tot 52.275 plus sales tax of 12 9 Sold dining set to Hasel Trans Sales Slip 1617 for $6.475 plus sales tax $513. 11 Receptedet of one damaged reelines from Jacqueline More that was originally sold on Sales Slip 1616 - February 5; issued Credit Memorandum 702 for $945, which includes sales a $90. 17 Sold living room tables and bookcases to Ann Brown: Sales Slip 1618 to $9,975 plus sales tax of $750 23 Sold Sight dining room chaisto Domingo Sala d Sales 81 1619 for 2,575 plus sales Saxot 206 as Gave A Brown an allowance to rates on her boobsessed Credit Memorandum 703 for $631, which includes sales of 46; he bookcases were originally sold on Sales Bip 1618 Tabany 17 Sold living of and out what a Jose Saude S t ates 10 for $4.150 plus sales 20 Soldining table Yumedales p or $.95 plus sales of $159. for $3.525 plus sale a t 30 GENERAL LEDGER ACCOUNTS 401 Sales 451 Sales Resume and Allowances Required: 1. Open the general ledger accounts and enter the balances for February 1 2. Record the transactions in a sales journal and in a general Journal 3. Post the entries from the general Journal to the general ledger plus sales tax of $158. 28 Sold a living room modular wall unit to Alan Baker; issued Sales Slip 1622 for $3,825 plus sales tax of $206. GENERAL LEDGER ACCOUNTS 111 Accounts Receivable, $16,336 Dr. 231 Sales Tax Payable, $7,240 Cx. 401 Sales 451 Sales Returns and allowances Required: 1. Open the general ledger accounts and enter the balances for February 1. 2. Record the transactions in a sales journal and in a general Journal 3. Post the entries from the general Journal to the general ledger. 4. Total, prove, and rule the sales Journal as of February 28 5. Post the column totals from the sales journal. 6. Prepare the heading and the Revenue section of the firm's Income statement for the month ended February 28, 2019. ncs Analyze: Based on the beginning balance of the Sales Tax Payable account, what was the amount of net sales for January? Complete this question by entering your answers in the tabs below. Ledger Accounts Sales Journal General Journal Income Statement Analyze Post the opening balances, column totals from the sales journal, and other transactions into the appropriate ledger accounts (Ros your answers to 2 decimal places.). Accounts Receivable Dobit Iob. 1. 2010 Account No: 111 Credit Balance 10.300.00 Sales Tax Payable Debit Feb 1, 2019 Account No: 231 Credit Balance Analyze: Based on the beginning balance of the Sales Tax Payable account, what was the amount of net sales for January? Complete this question by entering your answers in the tabs below. Ledger Accounts Sales Journal General Journal Income Statement Analyze Post the opening balances, column totals from the sales journal, and other transactions into the appropriate ledger accounts.(Round your answers to 2 decimal places.) Account No 231 Accounts Receivable Date Debit Account No: 111 Credit Balance Sales Tax Payable Date Debit Credit Balance 10,300.00 ces Feb. 1. 2019 Feb. 28, 2019 Feb. 11. 2019 Feb. 25, 2019 Feb 1, 2019 Feb 28 2019 Feb. 11. 2019 Feb 25, 2019 94500 021.00 15,421.00 14.500.00 Account 101 salos Returns and allowances Account No 451 Credit Fas23 2015 Feb. 11. 2013 Sales Journal > ype here to search Ledger Accounts Sales Journal General Journal Income Statement Analyze Prepare general journal entries as needed. View transaction list Journal entry worksheet Record the first entry required in the general journal. nces Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal 451 Sales Returns and Allowances Required: 1. Open the general ledger accounts and enter the balances for February 1. 2. Record the transactions in a sales Journal and in a general Journal. 3. Post the entries from the general Journal to the general ledger 4. Total, prove, and rule the sales journal as of February 28. 5. Post the column totals from the sales Journal. 6. Prepare the heading and the Revenue section of the firm's Income statement for the month ended February 28, 201 Analyze: Based on the beginning balance of the Sales Tax Payable account, what was the amount of net sales for January? Complete this question by entering your answers in the tabs below. Ledger Accounts Sales Journal General Journal Income Statement Analyze Based on the beginning balance of the Sales Tax Payable account, what was the amount of net sales for January? (Hint: Sales tax returns are filed and paid to the state quarterly.) Net sales ype here to search Ledger Accounts Sales Journal General Journal Income Statement Analyze Prepare general journal entries as needed. View transaction list Journal entry worksheet Record the first entry required in the general journal. nces Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal 451 Sales Returns and Allowances Required: 1. Open the general ledger accounts and enter the balances for February 1. 2. Record the transactions in a sales Journal and in a general Journal. 3. Post the entries from the general Journal to the general ledger 4. Total, prove, and rule the sales journal as of February 28. 5. Post the column totals from the sales Journal. 6. Prepare the heading and the Revenue section of the firm's Income statement for the month ended February 28, 201 Analyze: Based on the beginning balance of the Sales Tax Payable account, what was the amount of net sales for January? Complete this question by entering your answers in the tabs below. Ledger Accounts Sales Journal General Journal Income Statement Analyze Based on the beginning balance of the Sales Tax Payable account, what was the amount of net sales for January? (Hint: Sales tax returns are filed and paid to the state quarterly.) Net sales