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Superior Appliances is a retail store that sells household appliances. Merchandise sales are subject to an 8 percent sales taAnalyze: What percentage of credit sales were for entertainment items? Complete this question by entering your answers in theAnalyze: What percentage of credit sales were for entertainment items? Complete this question by entering your answers in theRequired: 1. Open the general ledger accounts and enter the balance of Accounts Receivable for July 1, 2019. 2. Record the tr

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Answer #1
SALES JOURNAL
Date Sales Slip No Customer's Name Accounts Receivable Debit Sales Tax payable Credit Sales Credit
July 1,2019 501 John Martinez                  891                     66             825
July 6,2019 502 Helen Thai              2,268                  168          2,100
July 11, 2019 503 Richard Jones              2,457                  182          2,275
July 17,2019 504 Mary Schneider              1,026                     76             950
July 23,2019 505 Victoria Caremello                  621                     46             575
July 27, 2019 506 Jeff Budd              1,512                  112          1,400 Entertainment Item
July 29, 2019 507 Michelle Ly              1,215                     90          1,125
July 31, 2019 508 Peter Mcvay                  324                     24             300
Total            10,314                  764          9,550
Accounts Receivable Account no:111
Date Debit Credit Balance
July 1,2019          28,000
July 31,2019                10,314          38,314
Sales Tax Payable Account no:231
Date Debit Credit Balance
July 1,2019 0
July 31,2019 764 764
Sales Account no:401
Date Debit Credit Balance
July 1,2019 0
July 31,2019 9550 9550
Percentage of Entertainment Item in total sales
i.e 1400 / 9550*100=              14.66%
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