Grading Criteria: Week 2: Merchandising Operations 1. 10 transactions to journalization. 5.00 50 General Ledger 2. Post the 20 accounts to the general ledger 1.50 30 3. Unadjusted Trial Balance. 20 Cash Act. # 101.00 (1 pt off per error on statement) TOTAL 100 Date Item PR Debit Credit Balance 30-Jun Balance 82,925.00 Required Journal Entries: 1-Jul The company purchased merchandise from Riggs Rivets for $7,500 under credit terms 1/15, n/30 2-Jul Sold merchandise to LG Motors worth $650 for $1050 under credit terms of 3/10, n/30, FOB Shipping Point 5-Jul Paid for the merchandise purchased on July 1 within the discount period 12-Jul Paid $55 cash for freight charges on the purchase from July 1. 13-Jul Received the balance due from LG Motors for the invoice dated July 2 less the discount. 15-Jul Purchased more merchandise from Riggs Rivets for $4,575 under credit terms 2/15, n/30 FOB Destination Point Accounts Receivable Act. # 105.00 17-Jul Sold merchandise that cost $1,000 for $1,700 cash Date Item PR Debit Credit Balance 20-Jul Returned $250 worth of merchandise purchased on July 12 30-Jun Balance 1,500.00 General Journal Date Account PR Dr Cr Merchandise Inventory Act. # 108.00 Week 2 Date Item PR Debit Credit Balance 30-Jun Balance 10,000.00 Accounts Payable Act. # 210.00 Date Item PR Debit Credit Balance 30-Jun Balance 2,500.00 Owner Capital Act. # 301.00 Date Item PR Debit Credit Balance 30-Jun Balance 75,000.00 75,000.00 Owner Withdrawals Act. # 301.10 Date Item PR Debit Credit Balance 30-Jun Balance 2,000.00 2,000.00 SALES Act. # 410.00 Date Item PR Debit Credit Balance 30-Jun Balance 18,980.00 Sales Discounts Act. # 410.20 Date Item PR Debit Credit Balance Cost of Goods Sold Act. # 530.00 Date Item PR Debit Credit Balance