Complete this question by entering your answers in the tabs below. Record these transactions in a general journal for Suarez, Incorporated assuming that they use the periodic system. Journal entry worksheet 5 Received payment of $2,058 on account from Bailey Company in payment of Invoice 1885, dated December 30, 20X0, less cash discount of $42. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. What is the balance of the accounts payable for Suarez, Incorporated, in the Bailey Company accounts payable subsidiary ledger? What is the balance of the accounts receivable for Bailey Company in the Suarez, Incorporated, accounts receivable subsidiary ledger? Complete this question by entering your answers in the tabs below. Required: 1a. Journalize the transactions above in a general joumal for Balley Company. 1b. Journalize the transactions above In a general Journal for Suarez, Incorporated 2 Post the transactions to the approprlate accounts In the general ledger and the accounts payable subsidlary ledger for Bailey Company| 3. Post the transactions to the approprlate accounts in the general ledger and the accounts recelvable subsidlary ledger for Suarez, Incorporated Analyze: What is the balance of the accounts payable for Suarez, Incorporated, In the Balley Company accounts payable subsidlary ledger? What is the balance of the accounts recelvable for Balley Company In the Suarez, Incorporated, accounts recelvable subsidlary ledger? Complete this question by entering your answers in the tabs below. Record these transactions in a general journal for Bailey Company assuming that they use the periodic system. Journal entry worksheet 5 Issued Check 2101 for $2,058 on account to Suarez, Incorporated, in payment of Invoice 1885, dated December 30, 20X0, less cash discount of $42. Nate: Enter debits before credits. Balley Company (buyer) and Suarez, Incorporated (seller), engaged in the following transactions during January 20X1: Balley Company DATE TRANSACTIONS January 8, 2ex1 Issued Check 2101 for \$2,e58 on account to Suarez, Incorporated, in payment of Invoice 1885, dated Decenber 30, 200, less cash discount of $42. January 10, 2ex1 Purchased nerchandise for $1,050 fron Suarez, Incorporated, Involce 1920; terms 2/10,n/30. January 15, 20x1 Received Credit Menorandum 329 from Suarez, Incorporated, for danaged merchandise totaling $2e that was returned; the goods were purchased on Involce 1920, dated January 10. January 19, 2ex1 Paid anount due to Suarez, Incorporated, for Involce 1920 of January 10 , less the return of January 15 and less the cash discount, Check 2130. January 30, 2ex1 Purchased nerchandise for $2,300 fron Suarez, Incorporated, Involce 1950; terns 2/10,n/30. GENERAL LEDGER ACCOUNTS-BAILEY COMPANY 201 Accounts Payable, \$2,100 Credit ACCOUNTS PAYABLE LEDGER ACCOUNT-BAILEY COMPANY Suarez, Incorporated, $2,100 Suarez, Incorporated DATE TRANSACTIONS January 8, 29x1 Received payment of \$2, 958 on account from Bailey Conpany in payment of Invoice 1885, dated December 39, 29xe, less cash discount of $42. January 18, 2ex1 Sold merchandise for $1,050 on account to Balley Company, Invoice 1920, terms 2/10,n/39. January 15, 2ex1 Issued Credit Memorandun 320 to Bailey Company for danaged merchandise totaling $260 that was returned; the goods were purchased on Involice 1929, dated January 10. January 19, 2ex1 Received payment from Bailey Conpany for Invoice 1920 of January 10, less the return of January 15 and less the cash discount. January 30, 2ex1 Sold merchandise for $2,300 to Bailey Company, Invoice 1950; terns 2/10,n/30. GENERAL LEDGER ACCOUNTS-SUAREZ, INCORPORATED 111 Accounts Recelvable, \$2,100 Deblt ACCOUNTS RECEIVABLE LEDGER ACCOUNT-SUAREZ, INCORPORATED Balley Company, $2,100