The Appliance Store began operations March 1, 2019. The firm sells its merchandise for cash...

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Accounting

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:

DATE TRANSACTIONS
2019
March 1 Sold merchandise on credit to Dave Allen; issued Sales Slip 101 for $500 plus sales tax of $30.
4 Sold merchandise on credit to Castor Phan; issued Sales Slip 102 for $850 plus sales tax of $51.
12 Sold merchandise on credit to Chris Hughes; issued Sales Slip 103 for $1,050 plus sales tax of $63.
15 Recorded cash sales for the period from March 1 to March 15 of $6,200 plus sales tax of $372.
25 Sold merchandise on credit to Brian Cooley; issued Sales Slip 104 for $800 plus sales tax of $48.
28 Received a check from Castor Phan of $260 to apply toward his account.
31 Recorded cash sales for the period from March 16 to March 31 of $3,100 plus sales tax of $186.
31 Received payment in full from Dave Allen for the sale of March 1.

Required:

Record the transactions in a general journal.

Post the entries from the general journal to the appropriate general ledger accounts.

GENERAL LEDGER ACCOUNTS
101 Cash 221 Sales Tax Payable
111 Accounts Receivable 401 Sales

Analyze: What were the total cash receipts during March?

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