Question

Appliances for Less began operations November 1, 2016. The firm sells its merchandise for cash
and on open account. Sales are subject to a 6 percent sales tax. During November, Appliances for
Less engaged in the following transactions:
DATE TRANSACTIONS
2016
Nov. 1 Sold a dishwasher on credit to Alice Chu; issued Sales Slip 101 for $550 plus sales tax of $33.
2 Sold stereo equipment on credit to Jane Peters; issued Sales Slip 102 for $825 plus sales tax of $49.50.
7 Sold a trash compactor on credit to Bob Huffington; issued Sales Slip 103 for $410 plus sales tax of $24.60.
12 Accepted return of defective stereo equipment from Jane Peters; issued Credit Memorandum 101 for $95 plus sales tax of $5.70. The stereo equipment was sold on November 2.
15 Recorded cash sales for the period from November 1 to November 15 of $10,050 plus sales tax of $603.
16 Sold a microwave oven on credit to Gina Silvestri; issued Sales Slip 104 for $550 plus sales tax of $33.
17 Sold a home entertainment system on credit to Dennis Newcombe; issued Sales Slip 105 for $1,375 plus sales tax of $82.50.
18 Received $320 from Alice Chu on account.
20 Received payment in full from Jane Peters for the sale of November 2, less the return of November 12.
24 Gave Dennis Newcombe an allowance because of scratches on his home entertainment system sold on November 17, Sales Slip 105; issued Credit Memorandum 102 for $120 plus sales tax of $7.20.
28 Received payment in full from Bob Huffington for the sale of November 7.
29 Sold a gas stove on credit to Bob Huffington; issued Sales Slip 106 for $675 plus sales tax of $40.50.
30 Recorded cash sales for the period from November 16 to November 30 of $10,350 plus sales tax of $621.

INSTRUCTIONS
Record the transactions in a general journal. Use 1 as the journal page number.
Analyze: What is the total amount due from Bob Huffington for the November 29 sale?



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  • CreatedAugust 08, 2014
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