Question: Precision Electronics began operations September 1 , 2 0 1 . The firm sells its merchandise for cash and on open account. Sales are subject

Precision Electronics began operations September 1,201. The firm sells its merchandise for cash and on open account. Sales are subject to a 7 percent sales tax. The terms for all sales on credit are net 30. During September, Precision Electronics engaged in the following transactions:
DATE
Septenber 1,20x1
Septenber 3,20x1
September 7,2exa
Septeaber 12,201
Septenber 15,2ext
septemper 16,2xal
September 17,201
Septenter 18,20x1
Septenber 20,20xi
Septenber 25.20xi
Septesher 27,20x1
fepteaber 25,20x1
Septenter 30,20xI
TRUNSACTIONS
Sold a high-definition television set on credit to cindy Chinz issued sales S1ip 101 for 51,280 plus sales tax of 584.
Sold stereo equipment on credit to Bob Perez; issued Sales 514 p 102 for 51,440 plus sales tax of 998.
Sold a Bicrowave oven on credit to Bobbi Haber; issued sales 5119103 for 5250 flus sales tax of $17,50.
Accepted returs of defective stereo equipoent froe Bob Perez; issued Credit Nemorandus 101 for $109 plus sales tax of $7. The steree equipeent was sold on September 3.
Fecorded cash sales for the period froa September I to September 15 of 59,490 ples sales tax of 5553.
Sold a pas Precision Electronics began operations September 1,201. The firm sells its merchandise for cash and on open account. Sales are subject to a 7 percent sales tax. The terms for all sales on credit are net 30. During September, Precision Electronics engaged in the following transactions:
DATE
Septenber 1,20x1
Septenber 3,20x1
September 7,2exa
Septeaber 12,201
Septenber 15,2ext
septemper 16,2xal
September 17,201
Septenter 18,20x1
Septenber 20,20xi
Septenber 25.20xi
Septesher 27,20x1
fepteaber 25,20x1
Septenter 30,20xI
TRUNSACTIONS
Sold a high-definition television set on credit to cindy Chinz issued sales S1ip 101 for 51,280 plus sales tax of 584.
Sold stereo equipment on credit to Bob Perez; issued Sales 514 p 102 for 51,440 plus sales tax of 998.
Sold a Bicrowave oven on credit to Bobbi Haber; issued sales 5119103 for 5250 flus sales tax of $17,50.
Accepted returs of defective stereo equipoent froe Bob Perez; issued Credit Nemorandus 101 for $109 plus sales tax of $7. The steree equipeent was sold on September 3.
Fecorded cash sales for the period froa September I to September 15 of 59,490 ples sales tax of 5553.
Sold a pas

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