Exceptional Electronics began operations September 1 2019 Th

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 TRANSACTIONS DATE 2019 Sept. 1 Sold a high-definition television set on credit to Candy Cho; 3 Sold stereo equipment on credit to Jim Peterson; issued Sales Slip 7 Sold a microwave oven on credit to Bridgette Huffman; issued Sales 12 Accepted return of defective stereo equipment from Jim Peterson; issued Sales Slip 101 for $3,100 plus sales tax of $217. 102 for $800 plus sales tax of $56 Slip 103 for $300 plus sales tax of $21. issued Credit Memorandum 101 for $100 plus sales tax of $7. The 15 Recorded cash sales for the period from September 1 to September 16 Sold a gas dryer on credit to Kathy Sundstrand; issued Sales Slip 17 Sold a home entertainment system on credit to Mark Navalta; issued 18 Received $770 from Candy Cho on account. stereo equipment was sold on September 3. 15 of $9,100 plus sales tax of $637. 104 for $600 plus sales tax of $42 Sales Slip 105 for $2,100 plus sales tax of $147. 20 Received payment in full from Jim Peterson for the sale of September 3, less the return of September 12 25 Gave Mark Navalta an allowance because of scratches on his home entertainment system sold on September 17, Sales Slip 105; issued 27 Received payment in full from Bridgette Huffman for the sale of 29 Sold a dishwasher on credit to Mark Navalta; issued Sales Slip 106 30 Recorded cash sales for the period from September 16 to September Credit Memorandum 102 for $100 plus sales tax of $7 September 7 for $400 plus sales tax of $28. 30 of $11,800 plus sales tax of $826 GENERAL LEDGER ACCOUNTS 101 Cash 111 Accounts Receivable 221 Sales Tax Payable 401 Sales 421 Sales Returns and Allowances

Solution

B.  

Note: Total of account receivable ledger and schedule of account receivable should be matched. As shown in above question

General Ledger
Cash	Account No. 101		Accounts Receivables	Account No 111
Date	Debit ($)	Credit ($)	Balance ($)		Date	Debit ($)	Credit ($)	Balance ($)
15-Sep	9737	0	9737		1-Sep	3317		3317
18-Sep	770	0	10507		3-Sep	856		4173
20-Sep	749	0	11256		7-Sep	321		4494
27-Sep	321	0	11577		12-Sep	0	107	4387
30-Sep	12626	0	24203		16-Sep	642		5029
					17-Sep	2247		7276
					18-Sep		770	6506
					20-Sep		749	5757
					25-Sep		107	5650
					27-Sep		321	5329
					29-Sep	428		5757