Question: Exceptional Electronics began operations September 1,2019. The firm sells its merchandise for cash and on open account. Sales are subject to a 7 percent sales
Exceptional Electronics began operations September 1,2019. The firm sells its merchandise for cash and on open account. Sales are subject to a 7 percent sales tax. During September, Exceptional Electronics engaged in the following transactions DATE 2019 TRANSACTIONS Sept. 1 Sold a high-definition television set on credit to Candy Cho issued Sales Slip 101 for $2,400 plus sales tax of $168. 102 for $900 plus sales tax of $63. 3 Sold stereo equipment on credit to Jim Peterson: issued Sales Slip 7 Sold a microwave oven on credit to Bridgette Huffman: issued Sales Slip 103 for $200 plus sales tax of $i4 ccepted return of defective stereo equipment from Jim Peterson issued Credit Memorandum 101 for $200 plus sales tax of $14. The stereo equipment was sold on September 3 12 A 15 Recorded cash sales for the period from September 1 to September 16 Sold a gas dryer on credit to Kathy Sundstrand: issued Sales s1ip 17 Sold a home 18 Received $700 from Candy Cho on account 15 of $10, 800 plus sales tax of $756. 104 for $500 plus sales tax of $35 Sales Slip 105 for $2,400 plus sales tax of s168. September 3, less the return of September 12, entertainment system on credit to Mark Navalta; issued 20 Received payment in 25 Gave Mark Navalta an allowance because of scratches on his home entertainment system sold on September 17, Credit Memorandum 102 for $200 plus sales tax of $14 Received payment in full from Bridgette Huffman for the sale of September 7 Sales S1ip 105: issued 27 29 Soid a dishwasher on eredit to Mark Navalta issued Sales S1ip 106 30 Recorded cash sales for the period from September 16 to September for $600 plus sales tax of $42 30 of $11,100 plus sales tax of $777. GENERAL LEDGER ACCOUNTS
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