7001016... A Questions, Classroom Demonstration Exercises, Exercises, and Problems 5-1C. The following transactions occurred for Lodge Co. of St. Albert for the month of ly: 022 aly 2 Sold merchandise to Joan Timkins Co. on account, $1,600, invoice No. 115, terms: net 30 days. Cost of inventory was $1,120. 5 Sold merchandise to Chris Cowan Co. on account, $825, invoice No. 116, terms: nebo ys. Cost of inventory $577.50. 9 Sold merchandise to Cross & Co. on account, $1,950, invoice No. 117, terms: net 30 days. Cost of inventory was $1,365. 12 Issued credit memorandum No. 1 to Joan Timkins Co. for $400 worth of merchandise returned because of faulty colouring match. Cost of inventory being returned is $280. 15 Sold merchandise to Chris Cowan Co. on account, $925, invoice No. 118, terms: net 30 days. Cost of Inventory was $647.50. 19 Sold merchandise to Cross & Co. on account, $930, invoice No. 119, terms: net 30 days. Cost of inventory was $651. Sold merchandise to Joan Timkins Co. on account, $2,025, invoice No. 120, terms: net 30 days. Cost of inventory was $1,417.50. Sales journal: journalizing and posting to the general ledger, recording in the accounts receivable ledger, and preparing a schedule of accounts receivable (50 min) Check Figure Schedule of Accounts Receivable $7,855.00 Required a. Journalize the transactions in the appropriate journals. b. Record in the accounts receivable ledger and post to the general ledger as appropriate. c. Prepare a schedule of accounts receivable as of July 31. 7001016... A Questions, Classroom Demonstration Exercises, Exercises, and Problems 5-1C. The following transactions occurred for Lodge Co. of St. Albert for the month of ly: 022 aly 2 Sold merchandise to Joan Timkins Co. on account, $1,600, invoice No. 115, terms: net 30 days. Cost of inventory was $1,120. 5 Sold merchandise to Chris Cowan Co. on account, $825, invoice No. 116, terms: nebo ys. Cost of inventory $577.50. 9 Sold merchandise to Cross & Co. on account, $1,950, invoice No. 117, terms: net 30 days. Cost of inventory was $1,365. 12 Issued credit memorandum No. 1 to Joan Timkins Co. for $400 worth of merchandise returned because of faulty colouring match. Cost of inventory being returned is $280. 15 Sold merchandise to Chris Cowan Co. on account, $925, invoice No. 118, terms: net 30 days. Cost of Inventory was $647.50. 19 Sold merchandise to Cross & Co. on account, $930, invoice No. 119, terms: net 30 days. Cost of inventory was $651. Sold merchandise to Joan Timkins Co. on account, $2,025, invoice No. 120, terms: net 30 days. Cost of inventory was $1,417.50. Sales journal: journalizing and posting to the general ledger, recording in the accounts receivable ledger, and preparing a schedule of accounts receivable (50 min) Check Figure Schedule of Accounts Receivable $7,855.00 Required a. Journalize the transactions in the appropriate journals. b. Record in the accounts receivable ledger and post to the general ledger as appropriate. c. Prepare a schedule of accounts receivable as of July 31