The document details an accounting assignment involving transactions from Exceptional Electronics and an appliance store, including sales, returns, and cash receipts over specified periods. It also requires posting entries to general ledger accounts and analyzing sales tax amounts owed and total cash receipts. Additionally, there are tutorials and guidelines provided to assist with completing the assignments.

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2. ACC 291 Week 1 Apply Connect Assignment
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 TRANSACTIONS
2019Sept. 1 Sold a high-definition television set
defini
to Candy Cho; issued Sales Slip 101 for $3,200 plus sales tax of
$224.
3 Sold stereo equipment on credit to Jim Peterson;
issued Sales Slip 102 for $1,000 plus sales tax of $70.
7 Sold a microwave oven on credit to Bridgette
Huffman; issued Sales Slip 103 for $400 plus sales tax of
$28.
12 Accepted return of defective stereo equipment
from Jim Peterson; issued Credit Memorandum 101 for
$200

3. plus sales tax of $14. The stereo equipment was sold on
September 3.
15 Recorded cash sales for the period from September
1 to September 15 of $9,000 plus sales tax of $630.
16 Sold a gas dryer on credit to Kathy Sundstrand;
issued Sales Slip 104 for $700 plus sales tax of $49.
17 Sold a home entertainment system on credit to
Mark Navalta; issued Sales Slip 105 for $2,200 plus sales tax
of
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'
18 Received $780 from Candy Cho on account.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 Credit Memorandum
102
for $100 plus sales tax of $7

4. 27 Received payment in full from Bridgette Huffman
for the sale of September 7
29 Sold a dishwasher on credit to Mark Navalta; issued
Sales Slip 106 for $500 plus sales tax of $35.
30 Recorded cash sales for the period from September
16 to September 30 of $11,900 plus sales tax of $833.
GENERAL LEDGER ACCOUNTS
WWW.a(«1 Cash 40. Sales
111 Accounts Receivable 421 Sales Returns and
Allowances
221 Sales Tax Payable ACCOUNTS
RECEIVABLE LEDGER ACCOUNTS
Candy Cho Jim Peterson

5. Bridgette Huffman Kathy Sundstrand
Mark Navalta
Required:
Post the entries from the general journal into the appropriate
accounts in the general ledger and in the accounts receivable
ledger.
Prepar
dule of
— —
Analyze:
What is the amount of sales tax owed at September 30, 2019?
Question 2
The Appliance Store began operations March 1, 2019. The firm
sells its merchandise for cash and on open account. Sales are
subject to a 6 percent sales tax. During March, The Appliance
Store engaged in the following transactions:

6. TRANSACTIONS
1-Mar Sold merchandise on credit to Dave Allen; issued Sales
Slip 101 for $600 plus sales tax of $36.
4-Mar Sold merchandise on credit to Castor Phan; issued Sales
Slip 102 for $950 plus sales tax of $57.
12-Mar Sold merchandise on credit to Chris Hughes;
issued Sales Slip 103 for $1,100 plus sales tax of $66.
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nment.com
15-Mar Recorded cash sales for the period from March 1
to March 15 of $5,700 plus sales tax of $342.
25-Mar Sold merchandise on credit to Brian Cooley;
issued Sales Slip 104 for $900 plus sales tax of $54.
28-Mar Received a check from Castor Phan of $310 to
apply toward his account.
31-Mar Recorded cash sales for the period from March 16 to
March 31 of $2,600 plus sales tax of $156.

7. 31-Mar Received payment in full from Dave Allen for the
sale of March 1.
Required:
1. Record the transactions in a general journal.
2. Post the entries from the general journal to the appropriate
general ledger accounts.
WWW.aCGENERALLEDGERACCOUNTS
101 Cash 221 Sales Tax Payable 111 Accounts Receivable 401
Sales Analyze: What were the total cash receipts during
March?
Information
Payment By Credit or Debit Card

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