1. Open the general ledger accounts and accounts receivable ledger accounts indicated below.
2. Post the entries from the general journal in Problem 7.2B to the appropriate accounts in the general ledger and in the accounts receivable ledger.
3. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule.

Data from in Problem 7.2B

Appliances Unlimited began operations November 1, 20X1. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During November, Appliances Unlimited engaged in the following transactions:

GENERAL LEDGER ACCOUNTS

ACCOUNTS RECEIVABLE LEDGER ACCOUNTS

Analyze: 

Damaged or defective goods decreased sales by what dollar amount? By what percentage?

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DATE 20X1 Nov. 1 2 7 12 15 16 17 18 20 TRANSACTIONS Sold a dishwasher on credit to Anna Chang; issued Sales Slip 101 for $1,100 plus sales tax of $66. Sold stereo equipment on credit to Janie O'Hara; issued Sales Slip 102 for $700 plus sales tax of $42. Sold a trash compactor on credit to Dave Hall; issued Sales Slip 103 for $550 plus sales tax of $33. Accepted return of defective stereo equipment from Janie O'Hara; issued Credit Memorandum 101 for $80 plus sales tax of $4.80. The stereo equipment was sold on November 2. Recorded cash sales for the period from November 1 to November 15 of $10,160 plus sales tax of $609.60. Sold a microwave oven on credit to Maria Santoro; issued Sales Slip 104 for $250 plus sales tax of $15. Sold a home entertainment system on credit to Bob Newell; issued Sales Slip 105 for $1,020 plus sales tax of $61.20. Received $466 from Anna Chang on account. Received payment in full from Janie O'Hara for the sale of November 2, less the return of November 12.