Mark Peaker owns Peaker€™s Sneaker Shop of Dartmouth. (In your working papers, balances as of May 1 are provided for the accounts receivable and general ledger accounts.) The following transactions occurred in May:

Required
a. Journalize the transactions.
b. Record in the accounts receivable subsidiary ledger and post to general ledger as needed.
c. Prepare a schedule of accounts receivable.

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2012 May Mark Peaker invested an additional $12,000 in the sneaker store. Sold $900 worth of merchandise on account to B. Dale, sales invoice No. 160, terms 1/10, n/30 Sold $500 worth of merchandise on account to Ron Lester, sales invoice No. 161, terms 1/10, n/30 Sold $200 worth of merchandise on account to Jim Zon, sales invoice No. 162, terms 1/10, n/30 Received cash from B. Dale in payment of May 4 transaction, sales invoice No. 160, less discount. Sold $3,000 worth of merchandise on account to Pam Pry, sales invoice No. 163, terms 1/10, n/30 Received cash payment from Ron Lester in payment of May 4 transaction, sales invoice No. 161 Collected cash sales, $3,000 Issued credit memorandum No. 31 to Pam Pry for $2,000 worth of merchandise returned from May 21 sales on account. Collected cash sales, $7,000 Received cash from Pam Pry in payment of May 21 sales invoice No. 163. (Don't forget about the credit memo and discount.) Sold sneaker rack equipment for $300 cash. (Beware.) Sold merchandise, priced at $4,000, on account to Ron Lester, sales invoice No. 164, terms 1/10, n/30 Issued credit memorandum No. 32 to Ron Lester for $700 worth of merchandise returned from May 29 transaction, sales invoice No. 164 4 4 8 11 21 22 22 25 25 28 28 29 31