Crestview Computer Security uses the perpetual inventory system and makes all credit sales on terms of \(2 / 10 \mathrm{n} / 30\). Crestview completed the following transactions during May:

Requirements 1. Open the following four-column general ledger accounts using the Crestview Computer Security account numbers as follows: 

2. Open these accounts in the subsidiary ledgers: Accounts receivable ledger-Bell Co., M. O. Brown, and K. D. Forbes. Accounts payable ledger-Chicosky Co.; Manley, Inc.; and Sims Distributing.

3. Enter the transactions in a sales journal, a cash receipts journal (page 5), a purchases journal (page 10), a cash payments journal (page 8), and a general journal (page 6), as appropriate.

4. Post daily to the accounts receivable ledger and to the accounts payable ledger. On May 31, post to the general ledger.

5. Total each column of the special journals. Show that total debits equal total credits in each special journal.

6. Balance the total of the customer balances in the accounts receivable ledger against Accounts Receivable in the general ledger. Do the same for the accounts payable ledger and Accounts Payable in the general ledger. 

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May 2 Issued invoice no. 913 for sale on account to K. D. Forbes, $2,000. Crestview's cost of this inventory was $900. 3 Purchased inventory on credit terms of 3/10 n/60 from Chicosky Co., $2,467. 5 Sold inventory for cash, $1,077 (cost, $480). 5 Issued check no. 532 to purchase furniture for cash, $2,185. 8 Collected interest revenue of $1,775. 9 Issued invoice no. 914 for sale on account to Bell Co., $5,550 (cost, $2,310). 10 Purchased inventory for cash, $1,143, issuing check no. 533. 12 Received cash from K. D. Forbes in full settlement of her account receivable from the sale on May 2. 13 Issued check no. 534 to pay Chicosky Co. the net amount owed from May 3. Round to the nearest dollar. 13 Purchased supplies on account from Manley, Inc., $441. Terms were net end-of-month. 15 Sold inventory on account to M. O. Brown, issuing invoice no. 915 for $665 (cost, $240). 17 Issued credit memo to M. O. Brown for $665 for merchandise returned to us by Brown. Also accounted for receipt of the inventory at cost. 18 Issued invoice no. 916 for credit sale to K. D. Forbes, $357 (cost, $127). 19 Received $5,439 from Bell Co. in full settlement of its account receivable from May 9. Bell earned a discount by paying early. 20 Purchased inventory on credit terms of net 30 from Sims Distributing, $2,047. 22 Purchased furniture on credit terms of 3/10 n/60 from Chicosky Co., $645. 22 Issued check no. 535 to pay for insurance coverage, debiting Prepaid Insurance for $1,000. 24 Sold supplies to an employee for cash of $54, which was Crestview's cost. 25 Issued check no. 536 to pay utilities, $453. 28 Purchased inventory on credit terms of 2/10 n/30 from Manley, Inc., $675. 29 Returned damaged inventory to Manley, Inc., issuing a debit memo for $675. 29 Sold goods on account to Bell Co., issuing invoice no. 917 for $2,900 (cost, $800). 30 Issued check no. 537 to pay Manley, Inc., in full on account from May 13.