accounts receivable and accounts payable, and trial

balance$-$periodic LO$3$

Newton Company completed these transactions during Aprill $2023.$

The terms of all credit sales are $\frac{2}{10},\frac{n}{30}$

$4^4{?}^2$ Purchased merchandise on credit from Baskin Company, invoice dated

April $2,$ terms $\frac{2}{10},\frac{n}{60},$$$12,80$

Sold merchandise on credit to Linda Hobart, invoice #$760,$ $$3,200.$ Cost,

$$1,900.$

Purchas

Purchased office supplies on credit from Eau Claire Inc., $$1,340.$ Invoice

dated April $2,$ terms $\frac{n}{10}$ EOM.

Issued cheque #$587$ to The Record for advertising expense, $$1,020.$

Sold merchandise on credit to Paul Abrams, invoice #$761,$ $$9,400.$ Cost,

$$5,600.$

Received an $$85$ credit memo from Eau Claire Inc, for office supplies

received on April $3$ and returned for credit

Purchased store equipment on credit from Frank's Supply, involce dated

April $9,$ terms n$/10$ EOM, $$10,500.$

Sold merchandise on credit to Kelly Schaefer, invoice #$762,$ $$10,000.$ Cost,

$$6,000.$

issued cheque #$588$ to Baskin Company in payment of its April $2$ invoice.

Received payment from Linda Hobart for the April $3$ sale.

Sold merchandise on credit to Linda Hobart, invoice #$763,$ $$5,200.$ Cost,

$$3,100.$

Received payment from Paul Abrams for the April $5$ sale.

Issued cheque #$589,$ payable to Payroll, in payment of the sales salaries for

the first half of the month, $$9,500.$ For simplicity, we assume one cheque.

Cash sales for the first half of the month were $$54,000.$ Cost, $$32,400.$ Cash

sales are usually recorded daily from the cash register readings. However,

transactions. Assuming a phis in

Required:

Set up Accounts Receivable Subledger accounts for Paul

Abrams, Linda Hobart, and Kelly Schaefer. $($Enter the transactions

in the order provided in the question.$)$

Set up Accounts Payable Subledger accounts for Frank's Supply,

Baskin Company, Sprocket Company, and Eau Claire Inc. $($Enter the

transactions in the order provided in the question.$)$

Journalize the transactions of Newton Company into the

appropriate special journal, posting to the subledgers where

required. Post the items that should be posted as individual

amounts from the journals and Foot and crossfoot the journals and

make the month$-$end postings. $($Enter the transactions in the order

provided in the question.$)$