Assignment 3. Accounting Information Systems PRINCIPLES OF ACCOUNTING 1 SEMESTER 1, 2021-2022 ASSIGNMENT 3: ACCOUNTING INFORMATION SYSTEMS Oct Oct High Five Company uses a sales joumal, a cash receipts journal, and a general journal to record transactions with its customers. Oct 2 Sold merchandise for $18,000 to M. Rice on account. Credit terms 2/10, 1/30. Sales invoice No. 100. The cost of the merchandise sold was $11,700. 5 Received a check for $1.300 from K. Bryant in payment of his account 8 Sold merchandise to S. O'Neal for $900 cash. The cost of the merchandise sold was $585. Oct 10 Received a check for $17,640 from M. Rice in payment of an invoice dated Oct 2 for $18,000. Sold merchandise for $7,000 to D. Josh on account. Credit terms 1/10, 1/30. Sales invoice No. 101. The cost of the merchandise sold was $4.550. 18 Borrowed $15,000 cash from Pacific Bank signing a 6-month, 10% note. Oct 20 Sold merchandise for $12,000 to J. West on account. Credit terms 1/10,n/30. Sales invoice No. 102. The cost of the merchandise sold was $7,800 31 Received a check from D. Josh for $5,500 as payment on account, no discount given. Oct 15 Oct Oct REQUIRED: Record the transactions for October that should be journalized in sales journal and cash receipt journal. 1 Assignment 3. Accounting information Systems Sales Journal Date Account Debited Lavoice Ne. Act. Receivable De Cost of goods sold (Dr) Sales revenue Coventry (6) Date Account Cash credited (Dr.) Cash Receipts Journal Sales Accounts Sales Other discounts receivable (Dr.) (CE) Oc) (C) Cest of goods sold (Dr.) Inventory (CE)