From the following transactions for Anne Co., journalize, record, post, and prepare a schedule of accounts receivable when appropriate. The accounts receivable subsidiary ledger and partial general ledger have been set up for you. All sales torms are 4/10, 1/30. The balance in merchandise Inventory on June 1 is $2,900. Assume the perpetual inventory system, (Click the icon to view the transactions.) set Journalize the transactions (Record debits first, then credits. Exclude explanations from journal entries. For purposes of this problem, ignore posting references) sactions 101 partial canaralledaar houn boon.cat un foro Allealae forme are 440 - The balance in mo vil More info actil 201X sin June 1 Anne Santos invested $3,400 in the business, 1 Sold merchandise on account to Claremont Co., invoice no. 1. $900. The cost of the merchandise was $360. 2 Sold merchandise on account to Watson Co., invoice no. 2. $600. The cost of the merchandise was $360. 3 Cash sale, $280. The cost of the merchandise was $168. 8 Issued credit memorandum no. 1 to Claremont Co, for defective merchandise, $400. The cost of the merchandise was $240. 10 Received check from Claremont Co. for invoice no. 1, less returns and discount. 15 Cash sale, $560. The cost of the merchandise was $336. 18 Sold merchandise on account to Claremont Co., invoice no. 3, $1,500. The cost of the merchandise was $900. chandil ng the Print Done June 1: Anne Santos invested $3,400 in the business. Journal Entry Date Account Titles PR Dr. Cr. June 1 June 1: Sold merchandise on account to Claremont Co., invoice no. 1, $900. The cost of the merchandise was $360. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Journal Entry Date Account Titles PR Dr. Cr. June 1 Record the cost of the sale. Record the cost of the sale. 5C Journal Entry Date Account Titles PR Dr. Cr. June 1 N 1 . June 2: Sold merchandise on account to Watson Co., invoice no. 2. $600. The cost of the merchandise was $360. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Journal Entry Date Account Titles PR Dr. Cr. June 2 Record the cost of the sale. Journal Entry Date Account Titles PR Dr. Cr. June 2 June 3: Cash sale, $280. The cost of the merchandise was $168. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Journal Entry Date Account Titles PR Dr. Cr. June 3 Record the cost of the sale. Journal Entry Date Account Titles PR Dr. Cr. . June 3 June 8: Issued credit memorandum no. 1 to Claremont Co. for defective merchandise, $400. The cost of the merchandise was $240. Begin by recording the receivable portion of the adjustment. Do not yet adjust for the cost of the merchandise returned. We will do that in the following step. Journal Entry Date Account Titles PR Dr. Cr. June 8 Record the entry to adjust for the cost of the merchandise returned Journal Entry Date Account Titles PR Dr. Cr. June B June 10: Received check from Claremont Co. for invoice no. 1, less returns and discount. Journal Entry Date Account Titles PR Dr. Cr. June 10 June 15: Cash sale, $560. The cost of the merchandise was $336. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Journal Entry Date Account Titles PR Dr. Cr. June 15 Record the cost of the sale. Journal Entry Date Account Titles PR Dr. . Cr. June 15 June 18: Sold merchandise on account to Claremont Co., invoice no. 3, S1,500. The cost of the merchandise was $900. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Journal Entry Date Account Titles PR Dr. Cr. June 18 Record the cost of the sale. Journal Entry Date Account Titles PR Dr. Cr. June 18 Post the transactions to the general ledger. Use transction dates as posting references. For purposes of this problem we will ignore beginning and ending balances of the ledger accounts except for the Accounts Receivable account. Calculate and enter an ending balance for the Accounts Receivable account only. Review the journal entries Cash 111 Accounts Receivable 113 Merchandise Inventory 121 Beg Bal 2,900 Bal Bal Anne Santos, Capital 311 Sales 411 Sales Returns and Allowances 412 Sales Discounts 413 Cost of Goods Sold 510 Record to the accounts receivable subsidiary ledger. Use transction dates as posting references and calculate an ending balance for each account. Review the journal entries Accounts Receivable Subsidiary Ledger Claremont Co. Watson Co. Bal. Bal. Bal. Bal. Record to the accounts receivable subsidiary ledger. Use transction dates as posting references and calculate an ending balance for each account. Review the journal entries Accounts Receivable Subsidiary Ledger Claremont Co. Watson Co. Bal Bal Bal Bal Complete the schedule of accounts receivable for Anne Co. Review the accounts receivable subsidiary ledger. Anne Co. Schedule of Accounts Receivable June 30, 2012 Claremont Co. Watson Co. Total Accounts Receivable Journal Entry PR Account Titles Accounts Receivable, Anne Santos is TC Accounts Receivable, Claremont Co. ing f Accounts Receivable, Watson Co. Anne Santos, Capital 1 Cash Claremont Capital Cost of Goods Sold Merchandise Inventory ICUCIV 279 Cash 111 N 1, 6/1 6/2 6/3 ntos, Capit 6/8 6/10 6/15 6/18 6/30 Dienernte