accounts Jowai ni 77. LO 2, 2) Selected courts from the chart of accounts of Meng Enterprises are shown belo 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 l 414 Sales Discounts 126 Supplies SOS Cost of Goods Sold 157 Equipment 301 Account Payable 726 Salaries and Wages Expense Scanned with CamScanner Problems 1 4. The cost of all merchandise old was 60% of the sales price. During Jutawy. Meng completed the Asllowing transactions amounts in thousands Jan. 3 Purchased merchandise on account from Gum Co 79.000 Purchased supplies for cash VSO. Sold merchandise on account to Wel V5.250, invoice no. 371. terms V10.30 05 Retured V300 worth of damaged goods purchased on account from Oom Coon 02 January 3 6 Made cash sales for the week totaling 13.150. Purchased merchandise on account from Pang Co. 14.500 19 Sold merchandise on account to Long Corp. 15.400, invoice no. 372, terms 1/10, 30, 11 Purchased merchandise on account from Che Co. 3,700 13 Paid in full Gum Co, on accountless a 25 discount, 13 Made cash sales for the week totaling 16.260 15 Received payment from Loeng Corp for invoice no. 372 15 Paid semi-monthly salaries of 14.300 to employees 17 Received payment from Wel for voice . 371 17 Sold merchandise on account to Dyun Co. VI.200.imvoice no. 373,terms 1/10, 1/30 19 Purchased equipment on account from Za Corp.5.500 20 Cash sales for the week totaled 3.200 Paid in full Pang Co. on accountless a 25% discount Purchased merchandise on account from Gum Ca 17.800 24 Purchased merchandise on account from Yap Corp. 15.100 27 Made cash sales for the week totaling 84.230 30 Received payment from Dyun Co. for invoice 373 31 Paid semi-monthly salaries of V13.200 to employees 31 Sold merchandise on account to Wel 19.330, Invoice no. 374 10 w30 Meng uses the following journals. 1. Sales journal 2. Single-colume purchases journal 3. Cash receipts Journal with columns for Cash Dr. Sales Discounts Dr. Accounts Receivable a Sales Revenue Cr., Other Accounts, and cost of Goods Sold Dr./Inventory 4. Cash payments journal with columns for Other Accounts De, Accounts Payable Dy. Inventory and Cash CE. 5. General journal Instructions Using the selected accounts provided a. Record cho Janu transactions in the wppropriate Journal noted h. Foot and cross-foot all special journals Show how postings would be made by placing ledger account numbers and checkmarks as needed in the journals. (Actual posting to ledger accounts is not required Sales journal 21,180 Purchases journal 0,100 Cash receipts journal balancing total 38,794 Cash payments ja balancing total 1,786 accounts Jowai ni 77. LO 2, 2) Selected courts from the chart of accounts of Meng Enterprises are shown belo 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 l 414 Sales Discounts 126 Supplies SOS Cost of Goods Sold 157 Equipment 301 Account Payable 726 Salaries and Wages Expense Scanned with CamScanner Problems 1 4. The cost of all merchandise old was 60% of the sales price. During Jutawy. Meng completed the Asllowing transactions amounts in thousands Jan. 3 Purchased merchandise on account from Gum Co 79.000 Purchased supplies for cash VSO. Sold merchandise on account to Wel V5.250, invoice no. 371. terms V10.30 05 Retured V300 worth of damaged goods purchased on account from Oom Coon 02 January 3 6 Made cash sales for the week totaling 13.150. Purchased merchandise on account from Pang Co. 14.500 19 Sold merchandise on account to Long Corp. 15.400, invoice no. 372, terms 1/10, 30, 11 Purchased merchandise on account from Che Co. 3,700 13 Paid in full Gum Co, on accountless a 25 discount, 13 Made cash sales for the week totaling 16.260 15 Received payment from Loeng Corp for invoice no. 372 15 Paid semi-monthly salaries of 14.300 to employees 17 Received payment from Wel for voice . 371 17 Sold merchandise on account to Dyun Co. VI.200.imvoice no. 373,terms 1/10, 1/30 19 Purchased equipment on account from Za Corp.5.500 20 Cash sales for the week totaled 3.200 Paid in full Pang Co. on accountless a 25% discount Purchased merchandise on account from Gum Ca 17.800 24 Purchased merchandise on account from Yap Corp. 15.100 27 Made cash sales for the week totaling 84.230 30 Received payment from Dyun Co. for invoice 373 31 Paid semi-monthly salaries of V13.200 to employees 31 Sold merchandise on account to Wel 19.330, Invoice no. 374 10 w30 Meng uses the following journals. 1. Sales journal 2. Single-colume purchases journal 3. Cash receipts Journal with columns for Cash Dr. Sales Discounts Dr. Accounts Receivable a Sales Revenue Cr., Other Accounts, and cost of Goods Sold Dr./Inventory 4. Cash payments journal with columns for Other Accounts De, Accounts Payable Dy. Inventory and Cash CE. 5. General journal Instructions Using the selected accounts provided a. Record cho Janu transactions in the wppropriate Journal noted h. Foot and cross-foot all special journals Show how postings would be made by placing ledger account numbers and checkmarks as needed in the journals. (Actual posting to ledger accounts is not required Sales journal 21,180 Purchases journal 0,100 Cash receipts journal balancing total 38,794 Cash payments ja balancing total 1,786
