The general ledger of Roberson, Inc., includes the following accounts, among others: All credit sales are on

Question:

The general ledger of Roberson, Inc., includes the following accounts, among others:

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All credit sales are on the company's standard terms of $2 / 10 \mathrm{n} / 30$. Transactions in May that affected sales and cash receipts were as follows:

May 2 Sold inventory on credit to Wadkins Co., $\$ 1,700$. Roberson's cost of these goods was $\$ 1,200$.
4 As an accommodation to a competitor, sold supplies at cost, $\$ 85$, receiving cash.
7 Cash sales for the week totaled $\$ 1,890$ (cost, $\$ 1,640$ ).
9 Sold merchandise on account to A. L. Prince, $\$ 7,320$ (cost $\$ 5,110$ ).
10 Sold land that cost $\$ 10,000$ for cash of $\$ 10,000$.
11 Sold goods on account to Sloan Electric, $\$ 5,104$ (cost $\$ 3,520$ ).
12 Received cash from Wadkins Co. in full settlement of its account receivable from May 2.
14 Cash sales for the week were $\$ 2,106$ (cost $\$ 1,530$ ).
15 Sold inventory on credit to the partnership of Wilkie \& Blinn, $\$ 3,650$ (cost $\$ 2,260$ ).
18 Received inventory sold on May 9 to A. L. Prince for $\$ 600$. The goods shipped were unsatisfactory. These goods cost Roberson $\$ 440$.
20 Sold merchandise on account to Sloan Electric, $\$ 629$ (cost, \$450).
21 Cash sales for the week were $\$ 990$ (cost, $\$ 690$ ).
22 Received $\$ 4,000$ cash from A. L. Prince in partial settlement of his account receivable.
25 Received cash from Wilkie \& Blinn for its account receivable from May 15.
25 Sold goods on account to Olsen Co., $\$ 1,520$ (cost, $\$ 1,050$ ).
27 Collected $\$ 5,125$ on a note receivable, of which $\$ 125$ was interest.
28 Cash sales for the week totaled $\$ 3,774$ (cost, $\$ 2,460$ ).
29 Sold inventory on account to R. O. Bankston, $\$ 242$ (cost, $\$ 170$ ).
30 Received goods sold on May 25 to Olsen Co. for $\$ 40$. The inventory was damaged in shipment. The salvage value of these goods was $\$ 10$.
31 Received $\$ 2,720$ cash on account from A. L. Prince.
\section*{Required}
1. Roberson records sales returns and allowances in the general journal. Use the appropriate journal to record the above transactions in a sales journal (omit the Invoice No. column), a cash receipts journal, and a general journal.
2. Total each column of the cash receipts journal. Show that the total debits equal the total credits.
3. Show how postings would be made from the journals by writing the account numbers and check marks in the appropriate places in the journals.