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:DateTransactions2019Se pt. 1Sold a high-definition television set on credit to Candy Cho: issued Sales Slip 101 for $2,100 plus sales tax of $147.3Sold stereo equipment on credit to Jim Peters; issued Sales Slip 102 tor $900 plus sales tax of $63.7Sold a microwave oven on credit to Bridgette Huffman: issued Sales Slip 103 for $300 plus sales tax or $21.12Accepted return of defective stereo equipment from Jim Peterson: issued Credit Memorandum 101 for $200 plus sales tax of $14. The stereo equipment was sold on September 3.15Recorded cash sales for the period from September 1 to September 15 of $10,500 plus sales tax of $735.16Sold a gas dryer on credit to Kathy Sundstrand: issued Sales Slip 104 tor $600 plus sales tax of $42.17Sold a home entertainment system on credit to Mark Navalta; issued Sales Slip 105 for $2,100 plus sales tax of $147.18Received $670 from Candy Cho on account.20Received payment in full from Jim Peterson for the sale of September 3, less the return of September 12.25Gave Mark Navalta an allowance because of scratches on his home entertainment system sold on September 17, Sales slip 105; issued Credit Memorandum 102 for $200 plus sales tax of $14.27Received payment in full from Bridgette Huffman tor the sale of September 7.29Sold a dishwasher on credit to Mark Navalta: issued Sales Slip 106 tor $400 plus sales tax or $28.30Recorded cash sales for the period From September 16 to September 30 of $10,800 plus sales tax of $756.GENERAL LEDGER ACCOUNTS101Cash111Accounts Receivable221Sales Tax Payable481Sales421Sales Returns and AllowancesACCOUNTS RECEIVABLE LEDGER ACCOUNTSCandy ChoJim PetersonBridgette HuffmanKathy SundstrandMark NavaltaRequired:2. Post the entries from the general journal into the appropriate accounts in the general ledger and in the accounts receivable ledger.3. Prepare a schedule of accounts receivable.