Mead Company uses a perpetual inventory system and engaged in the following transactions during the month of May:

Date	Transaction
May	1	Made cash sales of $6,330; the cost of the inventory was $3,360.
5	Purchased $2,380 of inventory on credit.
9	Made credit sales of $3,670; the cost of the inventory sold was $2,160.
13	Paid sales salaries of $990 and office salaries of $470.
14	Paid for the May 5 purchases.
18	Purchased sales equipment costing $9,300; made a down payment of $2,325 and agreed to pay the balance in 60 days.
21	Purchased $960 of inventory for cash.
27	Sold land that had originally cost $3,140 for $3,840.

Required:

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Record the preceding transactions in a general journal. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

May 1	Accounts Receivable Cash Cost of Goods Sold Sales Discounts Sales Revenue Correct 2	Correct 3
	Cost of Goods Sold Accounts Payable Accounts Receivable Office Salaries Expense Sales Revenue Correct 4	Correct 5
	To record cash sales.
May 1	Cost of Goods Available for Sale Cost of Goods Sold Inventory Accounts Receivable Accounts Payable Correct 8	Correct 9
	Accounts Payable Accounts Receivable Notes Receivable Cost of Goods Sold Inventory Correct 10	Correct 11
	To record cost of sales.
May 5	Inventory Sales Salaries Expense Cost of Goods Sold Gain on Sale of Land Loss on Sale of Land Correct 14	Correct 15
	Cost of Goods Sold Notes Payable Sales Revenue Accounts Receivable Accounts Payable Correct 16	Correct 17
	Purchased inventory on credit.
May 9	Accounts Receivable Cash Depreciation Expense Equipment Sales Revenue Correct 20	Correct 21
	Accounts Receivable Cash Inventory Sales Revenue Sales Returns and Allowances Correct 22	Correct 23
	To record credit sales.
May 9	Accounts Payable Cash Cost of Goods Sold Inventory Sales Revenue Sales Salaries Expense Correct 26	Correct 27
	Accounts Payable Cash Cost of Goods Sold Inventory Land Correct 28	Correct 29
	To record cost of sales.
May 13	Accumulated Depreciation Gain on Sale of Land Inventory Sales Salaries Expense Sales Salaries Payable Correct 32	Correct 33	Correct 34
	Accounts Receivable Inventory Office Salaries Expense Equipment Gain on Sale of Land Land Correct 35	Correct 36	Correct 37
	Cash Cost of Goods Sold Sales Revenue Accounts Receivable Accounts Payable Correct 38	Correct 39	Correct 40
	Paid salaries.
May 14	Accounts Payable Accounts Receivable Cost of Goods Sold Notes Payable Sales Revenue Correct 43	Correct 44
	Cash Cost of Goods Available for Sale Cost of Goods Sold Accounts Receivable Accounts Payable Correct 45	Correct 46
	Paid for May 5 inventory purchases.
May 18	Equipment Land Notes Payable Office Salaries Expense Sales Salaries Expense Correct 49	Correct 50	Correct 51
	Accounts Receivable Cash Cost of Goods Sold Gain on Sale of Land Notes Receivable Correct 52	Correct 53	Correct 54
	Gain on Sale of Land Cost of Goods Sold Sales Revenue Accounts Receivable Accounts Payable Correct 55	Correct 56	Correct 57
	Purchased equipment making a $2,325 down payment and agreed to pay balance in 60 days.
May 21	Inventory Sales Salaries Expense Office Salaries Expense Equipment Land Correct 60	Correct 61
	Cash Cost of Goods Sold Sales Revenue Accounts Receivable Accounts Payable Correct 62	Correct 63
	Purchased inventory for cash.
May 27	Cash Cost of Goods Sold Sales Revenue Accounts Receivable Accounts Payable Correct 66	Correct 67	Correct 68
	Inventory Sales Salaries Expense Office Salaries Expense Equipment Land Correct 69	Correct 70	Correct 71
	Gain on Sale of Land Loss on Sale of Land Salaries Payable Depreciation Expense Equipment Correct 72	Correct 73	Correct 74
	Sold land at a gain.