Aug. 1 Purchased merchandise from Able Co. for $6,000, terms 2/10, n/30.

3 Received check from Fox Co. (full balance outstanding) for July sale (less the 2% discount).

3 Sent check No.757 for $4,900 to Able Co. in full payment of outstanding balance from prior

| month.

4 Sold merchandise on credit to Coe Co. for $5,000, terms 2/10, n/30, Invoice No. 245.

Cost of the goods sold is $2,100.

5 Purchased merchandise from Baker Co. for $6,000, terms 1/15, n/30.

8 Purchased office supplies on credit from Echo Co. for $500, terms n/30.

9 Returned merchandise costing $300 to Able Co. from August 1 purchase.

11 Paid Able Co. for the August 1 purchase, (less discount) Check No. 758.

13 Received cash payment from Coe Co. for August 4 sale (less discount).

15 Paid August rent of $1,000, Check No. 759.

15 Sold merchandise on credit to Fox Co. for $5,000, terms 2/10, n/30, Invoice No. 246.

Cost of the goods sold is $2,400.

18 Sold merchandise on credit to Coe Co. for $3,000, terms 2/10, n/30, Invoice No. 247.

Cost of the goods sold is $1,200.

18 Received $2,300 cash for the $2,000 note receivable from Fox Corp. (included $300 Interest).

19 Sold merchandise on credit to Thomas Co .for $6,000, terms 2/10, n/30,

Invoice No. 248. Cost of the goods sold was $3,700.

20 Made cash payment in full to Baker Co. for the August 5 purchase, Check No 760.

20 Sold merchandise on credit to Fox Co. for $4,000, terms 2/10, n/30, Invoice No. 249.

Cost of the goods sold was $2,000.

22 Sold merchandise on credit to Thomas Co. for $4,000, terms 2/10, n/30, Invoice No. 250.

Cost of the goods sold is $2,200.

25 Received full payment less discount from Fox Co. for Aug.15 sale.

28 Recorded cash sales for the month $6,000. The cost of the goods sold was $3,000.

29 Paid Telephone Bill for August of $1.000, Check No. 761.

Paid Salaries of $500 each to 3 employees Checks 762, 763, 764.

30 Issued Check # 765 for $5,200 ($5,000 note payable and $200 interest expense)

Beginning balances

Cash-27,000

Accounts receivable- 2,000

Merchandise inventory- 30,000

Note receivable- 2,000

Accounts payable- 5,000

Notes payable- 10,000

Owners equity- 46,000

Record the balance sheet and a trial balance.

Billy Bob Supply Company uses four special journals: purchases, sales, cash receipts, and cash disbursements, along with a general journal. The following transactions were ineurred during August Aug. 1 Purchased merchandise from Able Co. for $6,0o0, terms 2/10, n/30 Received c heck from Fox Co. (full balance outstanding for July sale (less the 2% discount). Sent t cheek No.757 for $4,900 to Able Co. in full payment of outstanding balance from the prior month. Sold merchandise on credit to Coe Co. for $5,000, terms 2/10, n/30, Invoice No. 245 Cost of the goods sold is $2,500 Purchased me Purchased office rchandise from Baker Co. for $6,000, terms 1/15, n/30 supplies on credit from Echo Co. for $500, terms n/30. Paid Able Co. for the A Received ugust 1 purchase, (less discount) Check No. 758. cash payment from Coe Co. for August 4 sale (less discount). 15 Paid August rent of $1,000, Check No. 759. 15 Sold merchandise on credit to Fox Co.t or $5,000, terms 2/10, n/30, Invoice No. 246. 18 Sold merchandise on C 18 19 Cost of the goods sold is $2,400. Cost of the goods sold is $2,200. Sold merchandise on credit to Thomas Co.for $6,000, terms 2/10, n/30, credit to Coe Co. for $4,000, terms 2/10, n/30, Invoice No. 247, Received $2,400 cash for the $2,000 note receivable from Fox Corp. (included $400 Interest). Invoice No. 248. Cost of the goods sold was $3,700. 20 Made cash payment in full to Baker Co. for the August 5 purchase, Check No 760. 20 Sold merchandise on credit to Fox Co. for $4,000, terms 2/10, n/30, Invoice No. 249 Cost of the goods sold was $2,400mCo for $4,000, terms 2/10, n/30, Invoice No.250. Cost of the goods sold is $2,200 Received full payment less discount from Fox Co. for Aug.15 sale. Recorded cash sales for the month $7,000. The cost of the goods sold was $3,000. Paid Telephone Bill for August of $800, Check No. 761 Paid Salaries of $500 each to 3 employees Checks 762, 763, 764. Issued Check # 765 for $5,300 ($5,000 note payable and $300 interest expense) 25 28 29 30 Record trial balances. the above transactions in the appropriate special journals below. Post to ledgers and prepare th GENERAL JOURNAL Debit Credit Date Account Title 41 4 Sales R 30