2022

CRJ July 2 Walter Lantz invested $8000 inn the business

PJ 3 Purchased $2000 merchandise from Patel & Sons, their invoice no 756

SJ 4 Sold merchandise on account to Panda Co., invoice no 1- $300. Cost of merchandise was $225

SJ 5 Sold merchandise on account to Buzzard Co., invoice No. 2- $600. Cost of merchandise was $225

CR 6 Cash sale- $400 . Cost of merchandise was $300

GJ 8 Issued credit memorandum No 1 to Panda Co. for defective merchandise - $100. No inventory was returned

9 Purchased $1150 merchandise from Black Brothers , their invoice no. 2014

10 Returned $400 defective merchandise to Patel &Sons . No inventory was returned

Journalize, record and post the following transactions as needed to the

a. sales, purchases

b. cash receipts

c. cash payments

d. general journal

e. all terms are 2/10, n/30 on both sales and purchases.