It is October 16, 2020, and you have just taken over the accounting work of Saskan Enterprises, whose annual accounting period ends each October 31. The company's previous accountant journalized its transactions through October 15 and posted all items that required posting as individual amounts, as an examination of the journals and ledgers in the Working Papers will show. The company completed these transactions beginning on October 16, 2020: for credit. Oct. 16 Sold merchandise on credit to Vickie Foresman, invoice #916, $7,500. Cost, $3,750. Terms of all credit sales are 2/10, n/30. 17 Received a $1,090 credit memo from Shore Company for merchandise received on October 15 and returned for credit. 17 Purchased office supplies on credit from Brown Supply Company, $580. Invoice dated October 16, terms n/10 EOM. 18 Received a $40 credit memo from Brown Supply Company for office supplies received on October 17 and returned 20 Issued a credit memo to Amy Ihrig for defective merchandise sold on October 15 and returned for credit, $500. The returned merchandise was scrapped. 21 Purchased store equipment on credit from Brown Supply Company, invoice dated October 21, terms n/10 EOM, $ 7,200. 22 Received payment from Vickie Foresman for the October 12 sale. 23 Issued cheque #623 to Sunshine Company in payment of its October 15 invoice. 24 Sold merchandise on credit to Bill Grigsby, invoice #917, $1,400. Cost, $750. 24 Issued cheque #624 to Shore Company in payment of its October 15 invoice. 25 Received payment from Amy Ihrig for the October 15 sale. 26 Received merchandise and an invoice dated October 25, terms 2/10, n/60, from Sunshine Company, $7,900. 29 Sold a neighbouring merchant five boxes of file folders (office supplies) for cash at cost, $50. 30 Ken Shaw, the owner of Saskan Enterprises, used cheque #625 to withdraw $2,500 cash from the business for personal use. 31 Issued cheque #626 to Jamie Green, the company's only sales employee, in payment of her salary for the last half of October, $2,200. 31 Issued cheque #627 to Countywide Electric Company in payment of the October electric bill, $680. 31 Cash sales for the last half of the month were $31,000. Cost, $15,500. Cash sales are usually recorded daily but are recorded only twice in this problem to reduce the repetitive transactions. Required: 1. Record the transactions in the journals provided. (Enter the transactions in the order provided in the question.) ACCOUNTS RECEIVABLE SUBLEDGER Marge Craig Date (2020) Explanation PR Debit Credit Balance Date (2020) Oct. 6 S3 3,300 3,300 Oct. 12 Oct. 9 G2 850 2,450 Oct. 15 CR3 2,450 0 Bill Grigsby Date (2020) Explanation PR Debit Credit Balance Date (2020) Oct. 15 Sept. 23 S2 4,200 4,200 Oct. 2 CR3 4,200 0 ACCOUNTS RECEIVABLE SUBLEDGER Vickie Foresman t Balance Date (2020) Explanation PR Debit Credit Balance Oct. 12 S3 3,650 3,650 3,300 2,450 850 -450 0 Amy Ihrig t Balance Date (2020) Explanation PR Debit Credit Balance 4,200 Oct. 15 S3 3,100 3,100 -200 0 ACCOUNTS PAYABLE SUBLEDGER Fireside Company PR Debit Date (2020) Explanation Credit Balance Date (2020) Sept. 28 P1 4,260 Oct. 5 4,260 3,800 Oct. 4 G2 460 Oct. 6 CD4 3,800 0 Sunshine Company PR Debit Date (2020) Explanation Credit Balance Date (2020) Oct. 15 P2 2,650 2,650 Oct. 2 Oct. 12 Oct. 15 ACCOUNTS PAYABLE SUBLEDGER Brown Supply Company Explanation PR Debit Balance Date (2020) Credit Balance 50 4,260 Oct. 5 P2 1,300 1,300 3,800 0 Shore Company PR Debit Balance Date (2020) Explanation Credit Balance 50 2,650 Oct. 2 P2 3,200 3,200 Oct. 12 CD4 3,200 0 Oct. 15 P2 3,990 3,990 It is October 16, 2020, and you have just taken over the accounting work of Saskan Enterprises, whose annual accounting period ends each October 31. The company's previous accountant journalized its transactions through October 15 and posted all items that required posting as individual amounts, as an examination of the journals and ledgers in the Working Papers will show. The company completed these transactions beginning on October 16, 2020: for credit. Oct. 16 Sold merchandise on credit to Vickie Foresman, invoice #916, $7,500. Cost, $3,750. Terms of all credit sales are 2/10, n/30. 17 Received a $1,090 credit memo from Shore Company for merchandise received on October 15 and returned for credit. 17 Purchased office supplies on credit from Brown Supply Company, $580. Invoice dated October 16, terms n/10 EOM. 18 Received a $40 credit memo from Brown Supply Company for office supplies received on October 17 and returned 20 Issued a credit memo to Amy Ihrig for defective merchandise sold on October 15 and returned for credit, $500. The returned merchandise was scrapped. 21 Purchased store equipment on credit from Brown Supply Company, invoice dated October 21, terms n/10 EOM, $ 7,200. 22 Received payment from Vickie Foresman for the October 12 sale. 23 Issued cheque #623 to Sunshine Company in payment of its October 15 invoice. 24 Sold merchandise on credit to Bill Grigsby, invoice #917, $1,400. Cost, $750. 24 Issued cheque #624 to Shore Company in payment of its October 15 invoice. 25 Received payment from Amy Ihrig for the October 15 sale. 26 Received merchandise and an invoice dated October 25, terms 2/10, n/60, from Sunshine Company, $7,900. 29 Sold a neighbouring merchant five boxes of file folders (office supplies) for cash at cost, $50. 30 Ken Shaw, the owner of Saskan Enterprises, used cheque #625 to withdraw $2,500 cash from the business for personal use. 31 Issued cheque #626 to Jamie Green, the company's only sales employee, in payment of her salary for the last half of October, $2,200. 31 Issued cheque #627 to Countywide Electric Company in payment of the October electric bill, $680. 31 Cash sales for the last half of the month were $31,000. Cost, $15,500. Cash sales are usually recorded daily but are recorded only twice in this problem to reduce the repetitive transactions. Required: 1. Record the transactions in the journals provided. (Enter the transactions in the order provided in the question.) ACCOUNTS RECEIVABLE SUBLEDGER Marge Craig Date (2020) Explanation PR Debit Credit Balance Date (2020) Oct. 6 S3 3,300 3,300 Oct. 12 Oct. 9 G2 850 2,450 Oct. 15 CR3 2,450 0 Bill Grigsby Date (2020) Explanation PR Debit Credit Balance Date (2020) Oct. 15 Sept. 23 S2 4,200 4,200 Oct. 2 CR3 4,200 0 ACCOUNTS RECEIVABLE SUBLEDGER Vickie Foresman t Balance Date (2020) Explanation PR Debit Credit Balance Oct. 12 S3 3,650 3,650 3,300 2,450 850 -450 0 Amy Ihrig t Balance Date (2020) Explanation PR Debit Credit Balance 4,200 Oct. 15 S3 3,100 3,100 -200 0 ACCOUNTS PAYABLE SUBLEDGER Fireside Company PR Debit Date (2020) Explanation Credit Balance Date (2020) Sept. 28 P1 4,260 Oct. 5 4,260 3,800 Oct. 4 G2 460 Oct. 6 CD4 3,800 0 Sunshine Company PR Debit Date (2020) Explanation Credit Balance Date (2020) Oct. 15 P2 2,650 2,650 Oct. 2 Oct. 12 Oct. 15 ACCOUNTS PAYABLE SUBLEDGER Brown Supply Company Explanation PR Debit Balance Date (2020) Credit Balance 50 4,260 Oct. 5 P2 1,300 1,300 3,800 0 Shore Company PR Debit Balance Date (2020) Explanation Credit Balance 50 2,650 Oct. 2 P2 3,200 3,200 Oct. 12 CD4 3,200 0 Oct. 15 P2 3,990 3,990