11.12 3.1. 6 1.7.1 8 9 10 11 12 13 14 15 16 1 Star Sales Company makes all credit sales with terms 1/10, n/30, had the following transactions during January. Star records all sales returns in the general journal. January 2 January 3 January 4 January 8 January 9 January 10 January 11 January 12 Sold on account to Wooten Design Ltd., $9,400. Star's cost of this inventory was $5,560. Purchased inventory on credit terms of 1/10, n/60 from Delwood Co., #23,600. The invoice was dated January 3. Sold inventory for cash, $3,232 (cost, $2,040). Collected interest revenue of $10,760. Issued invoice no. 192 for sale on account to Vachon inc., $25,000 (cost, $13,200). Received inventory sold on January 2 to Wooten Design Ltd. for $200 (Sales Return). The goods shipped were the wrong colour. These goods cost Star Sales $118. Sold inventory on account to Franklin Ltd., issuing invoice no. 193 for $2,972 (cost, $1,640). Received $9,108 cash from Wooten Design Ltd. In full settlement of its account receivable. Journalize the above transactions in the special journals provided below. Posting to ledgers is not required in this problem. Ignore transaction that cannot be recorded in the journals provided. Sales Journal page 1 Date Account Debited Terms Post. Ref. Accounts Receivable Dr. Sales Revenue Cr. Cost of goods sold Dr. Inventory Cr. Cash Receipt Journal page 1 Credit Debit Other Accounts Date Cash Sales Accounts Sales Discount Receivable Revenue Account Title Post. Ref. Amount Cost of goods sold Dr Inventory Cr. gate earch General Journal Date Account Title Debit page 1 Credit