Billy Bob Supply Company uses four special journals: purchases, sales, cash receipts, and cash disbursements, along with a general journal. The following transactions occurred in August: Purchased merchandise from Able Co. for $6,000, terms 2/10, n/30. Received check from Fox Co. (full balance outstanding) for July sale (less the 2% discount). Sent check No.757 for $4,900 to Able Co. in full payment of outstanding balance from the prior Aug. 1 3 3 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 merchandise from Baker Co. for $6,000, terms 1/15, n/30 Purchased office supplies on credit from Echo Co. for $500, terms n/30. Returned merchandise costing $300 to Able Co. from August 1 purchase. Paid Able Co. for the August 1 purchase, (less discount) Check No. 758. Received cash payment from Coe Co. for August 4 sale (less discount). Paid August rent of $1,000, Check No. 759. Sold merchandise on credit to Fox Co. for $5,000, terms 2/10, n/30, Invoice No. 246. Cost of the goods sold is $2,600. Sold merchandise on credit to Coe Co. for $4,000, terms 2/10, n/30, Invoice No. 247. Cost of the goods sold is $2,200. Received $2,400 cash for the $2,000 note receivable from Fox Corp. (included $400 Interest). Sold merchandise on credit to Thomas Co .for $6,000, terms 2/10, n/30, 4 5 8 11 13 15 15 18 18 19 Invoice No. 248. Cost of the goods sold was $3,400. Made cash payment in full to Baker Co. for the August 5 purchase, Check No 760 Sold merchandise on credit to Fox Co. for $4,000, terms 2/10, n/30, Invoice No. 249. Cost of the goods sold was $2,400. 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. Received full payment less discount from Fox Co. for Aug.15 sale. Recorded cash sales for the month $7,500. The cost of the goods sold was $3,000. Paid Telephone Bill for August of $400, 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) 20 20 22 25 28 29 30 Record the above transactions in the appropriate special journals below. Post to ledgers and prepare the trial balances. GENERAL JOURNAL PR Account Title Date Debit Credit PURCHASES JOURNAL Other Accoum Office Date Account Invoice ms Inventory Debit Account Payable Credit Debit Supplies Debit Date PR Ed 00 CASH DISBURSEMENTS JOURNAL Account Date Check Merchandise Inventory Credit Cash Other Accounts Accounts Payee PR Debited Credit Payable Debit Debit Kent SCCO 100 CASH Balance Credit Debit Date PR 27,000 XX Balance Forwarded XX XX 200 ACCOUNTS RECEIVABLE Balance Credit Debit Date PR 2,000 XX XX Balance Forwarded XX MERCHANDISE INVENTORY 135 Date PR Debit Balance Credit Balance Forwarded XX XX 30,000 OFFICE SUPPLIES Debit 140 Balance Credit PR Date NOTE RECEIVABLE 150 Debit Balance Credit PR Date XX 2,000 XX XX Balance Forwarded ACCOUNTS PAYABLE 300 Debit Balance Credit PR Date XX 5,000 XX Balance Forwarded XX NOTES PAYABLE 350 Credit Balance Date PR Debit Balance Forwarded XX XX XX 10,000 OWNERS EQUITY 400 Balance Date PR Credit Debit 46,000 XX Balance Forwarded XX XX SALES PR 500 Debit Balance Credit Date INTEREST REVENUE 510 Debit Date Credit PR Balance SALARIES EXPENSE 600 Date Balance PR Debit Credit RENT EXPENSE 602 Debit Balance Credit PR Date INTEREST EXPENSE 604 Balance Credit Debit PR Date TELEPHONE EXPENSE Debit 605 Credit Balance PR Date COST OF GOODS SOLD Debit 625 Credit Balance PR Date SALES DISCOUNTS 655 Credit Balance Date PR Debit TRIAL BALANCE SUBSIDIARY LEDGERS ACCOUNTS RECEIVABLE Subsidiary Account Receivable - Fox Company Credit Balance Date PR Debit 2,000 XX Balance XX XX Subsidiary Account Receivable - Thomas Debit Balance Credit PR Date Subsidiary Account Receivable.--Coe Company Debit PR Credit Balance Date SUBSIDIARY LEDGERS ACCOUNTS PAYABLE Subsidiary Account Payable PR Able Company Credit - Balance Date Debit Balance 5,000 XX XX XX Subsidiary Account Payable-Baker Company Debit Balance Credit Date Explantation PR. Subsidiary Account Payable - Echo Debit Balance PR Date Credit Schedule of Accounts Receivable Schedule of Accounts Payable