Comprehensive Use of Special-Purpose Journals Ye Olde Book Store opened its doors for business on May 1. During May, the following transactions took place: May 1 Linda Berrill began the business by depositing $42,000 in the new company's bank account. 3 Issued check no. 2001 to Remax Rentals for one month's rent, $1,000. 4 Received a shipment of books from Chassman Books, Inc., invoice dated May 3, terms 5/10, n/60, FOB shipping point, $15,680, REQUIRED 1. Prepare a sales journal, a multicolumn purchases journal, a cash receipts journal, a cash payments journal, and a general journal. Use Page 1 for all journal references. 2. Open the following general ledger accounts: Cash (111), Accounts Receivable (112), Store Equipment (141), Accounts Payable (211), Notes Payable (212), Linda Ber-rill, Capital (311), Sales (411), Sales Discounts (412), Sales Returns and Allowances (413), Purchases (511), Purchases Discounts (512), Purchases Returns and Allowances (513), Freight In (514), Salaries Expense (611), Advertising Expense (612), and Rent Expense (613). 3. Open accounts receivable subsidiary ledger accounts for Midtown Center, Steve Oahani, and Missy Porter. 4. Open accounts payable subsidiary ledger accounts for Chassman Books, Inc.; Lakeside Books; Menden Shippers; and Perspectives Publishing Company. 5. Enter the transactions in the journals and post as appropriate. 6. Foot and crossfoot the journals, and make the end-of-month postings. 7. Prepare a trial balance of the general ledger and prove the control balances of Accounts Receivable and Accounts Payable by preparing schedules of accounts receivable and accounts payable