4:21 N e. 1,800 HW 1 - Chapter 2.pdf - Read-only 3,5 04 Analysis of Unfamiliar Transactions E8B. Managers and accountants often encounter transactions with which they are unfa- miliar. Use your analytical skills to analyze and prepare journal entries for the following transactions, which have not yet been discussed in the text. May 1 Purchased merchandise inventory on account, $1,400. 2 Purchased marketable securities for cash, $3,000. 3 4 5 6 Returned part of merchandise inventory purchased for full credit, $250. Sold merchandise inventory on account, $800 (record sale only). Purchased land and a building for $300,000. Payment is $60,000 cash, and there is a 30-year mortgage for the remainder. The purchase price is allocated as follows: $100,000 to the land and $200,000 to the building. Received an order for $12,000 in services to be provided. With the order was a deposit of $3,500. Trial Balance E9B. After recording the transactions in E6B, prepare a trial balance in proper sequence for Stan Danair Corvice. of June 20