Use the sales journal and the related ledger accounts in Exhibit 7-6, page 387, to answer these questions about Slopes Ski Shop.
1. How much inventory did Slopes have on hand at the end of November? Where can you get this information?
2. What amount did Slopes post to the Sales Revenue account? When did Slopes post to the Sales Revenue account? Assume a manual accounting system.
3. After these transactions, how much does Susan Levy owe Slopes? Where did you obtain this information? Be specific.
4. If there were no discounts, how much would Slopes hope to collect from all its customers? Where is this amount stored in a single figure?
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