Ceres Computer Sales uses the perpetual inventory system and had the following transactions
	during the month of December.
Required:
a. Prepare the general journal entries to record these transactions. (Explanations are NOT required.)
Dec. 4	Purchased merchandise on credit for $4,200 with terms of 2/20, n/30.
11	Received a credit memo of $600 for return of faulty merchandise purchased on December 4.
12	Sold merchandise for $7,000 on credit with terms of 3/10,n/30. The items cost $4,000.
13	Purchased merchandise for cash of $1,800.
18	Paid freight charges of $100 for merchandise previously received.
23	Made payment of balance due for purchase of Dec. 4.

5 X ACC 2010_Homework Make-Up_FA20-Truman - D (1) - Excel ACROBAT Tell me what you want to do... File Home Insert Page Layout Formulas Data Review View >! Calibri 11 - A Wrap Text General * Cut LE Copy Format Painter A AY O Tolulope Oloyede01 2 Share AutoSum - Fill - Sort & Find & Clear - Filter - Select - Editing H Paste BIU A EES Merge & Center $ %, 0.000 .00 0 Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles Clipboard Font Alignment Number Cells C28 X fx A B D E F F G H J J L M N Q R S T U V W Y z AA 18 8 8 9 Act 10 11 1. Prepare general journal entries to record these transactions. (Explanations 12 are not required.) 13 2. Posted the above items to the ledger T-accounts. 14 3. Prepare a Trial Balance for Truman Services at May 31, 2020. 15 16 Truman Services organized and opened for business on May 1st. During the month 17 the company completed the following transactions: 19 On May 1, The company received an initial investment of $25,000 cash and $10,000 of 20 computer equipment for common stock. 21 22 On May 2, paid $600 cash for an insurance premium covering the next 12 months. 23 24 On May 3, paid $1,400 for May's rent. 25 26 On May 6, purchased office supplies for $1,500, on credit. 27 28 On May 7, The comp iny made its first sale to a customer and collected $3,000 cash. 29 30 On May 15, company makes sale to a second customer for $8,000 and sends a bill. 31 32 On May 18, company paid $1,000 cash to partially satisfy item recorded on May 6. 34 On May 30, company paid $6,000 cash in salaries to staff. 35 36 On May 31, company paid a $1,000 cash dividend. 33 37 38 Exam 1-second exam + Ready + 73% i Q x] 9 1:59 PM 10/25/2020 W