P6-3A. Wilson Chan has just taken over a business started by his aunt in Sarnia, Ontario, Journalising, recording and Imported Technology (CIT for short and has all new customers in the Regina schedule of accounts receivable region. CIT specializes in the sale of three types of advanced clectronic devices 5 mont cell phones (CP), tablet computers (TC), and smart watches (SW). Wilson wants his bookkeeper to record all sales into the Sales account. CIT normal terms are 2/10,0/20, but a couple of customers have been granted special terms of 3/15 1/45. Here are the sales and sales related transactions for CIT during its fint month of operations in August 2022. All inventory sold has a cost of goods sold amount equal to 75% of the sale (for example, if $4,000 of product was sold, the cost of goods sold for that sale would be $3.000). 2022 Aug 2 Sold 54,000 (CP) and $5,500 (TC) to JIW Enterprises Invoice No. 2001. Normal terms. Chat 4 Sold $3,200 (CP). 51.600 (TC) and $2,600 (SW) to Case-3 Tolof School A Electronics. Invoice No. 2002. Special terms Recen 56,15 5 Sold $2,900 (TC) and $1,200 (SW) to Advanced Technologies in Motion Invoice No. 2003. Normal terms. 6 JIW Enterprises messaged that there was a minor problem with the screens of two of the cell phones they purchased on August 2 Wilson agreed to a credit allowance of $150 and issued credit memorandum No 101 dated this date. Wilson did not take back the inventory 10 Sold $3,000 (CP). $4,750 (TC), and $1,700 (SW) to Manfred Communications. Invoice No 2004. Normal terms 13 Sold $1,400 (CP), 53,500 (TC), and $850 (SW) to Enterprises Tavoice No. 2005. Normal terms. 17 Sold $930 (CP). $1,400 (TC) and $1,100 (SW) to Advanced Technologies in Motion. Invoice No 2006. Normal terms. 20 "The purchasing manager for Manfred Communications dropped by to mention that there was a memory flaw in one of the tablets sold to them on August 10. Manfred had already replaced the memory component with its own supply, and so an adjustment in price of $75 was agreed to Issued credit memorandum No 102 to Manfred Communications this date. No inventory was returned. 22 Sold $4,200 (CP), $3,800 (TC), and $1,300 (SW) to WM Sales Invoice No 2007. Special terms 26 Sold $6,200 (TC) to Case 5 Electronics Invoice No 2008. Special terms. 28 Sold $2,550 (CP). $4,400 (TO), and $1,780 (SW) to Manfred Communications. Invoice Na 2009. Normal terms 30 Sold 51,430 (CP), $2,800 (TC), and $1,300 (SW) to Advanced Technologies in Motion, Invoice No 2010. Normal terms. Required a. Enter the above transactions in a sales journal and the general journal b. Record all transactions to the customers' accounts in the accounts receivable subsidiary ledger c. Prepare a schedule of accounts receivable as of August 31. Please note if you are also required to complete problem P6-4A (sce following, then you should prepare this schedule only once, after all cash receipts have been recorded SOE Here are the general ledger account numbers used by CIT: Accounts Receivable 1300 Sales Inventory 1500 Cost of Goods Sold Sales Returns and Allowances 4500 Sales Discounts 4550 4100 5000