PART II -JOURNAL ENTRIES (30 points) The ledger accounts given below, with an identification number for each, are used by Kiner Company Instructions: Prepare appropriate entries for the month of August by placing the appropriate identification number(s) in the debit and credit columns provided and the dollar amounts pertaining to each account in the adjoining columns. 1. Cash 7. Accounts Payable 2. Accounts Receivable 8. Sales Returns and Allowances 3. Notes Receivable 9. Sales Discounts 4. Merchandise Inventory 10. Sales 5. Office Supplies 11. Cost of Goods Sold 6. Land 12. Freight-out Entry Information Account(s) Amounts Debited Credited Debited Credited 1 10 $300 $300 0. Aug. 1 Sold merchandise for cash $300. The cost of the merchandise sold was $200. 11 4 200 200 1. Aug. 2 Purchased merchandise from ABC Co. on account for $5.000; terms 2/10, n/30 1 2. Aug. 4 Sold excess land for $7,000 accepting a 2-year, 12% note. The land was purchased for $7,000 last year. 3. Aug. 6 Sold merchandise to D. Riley on account for $830, terms 2/10, n/30. The merchandise sold cost $600. 4. Aug. 8 Accepted a sales return of defective merchandise from D. Riley-credit granted was $280. The returned merchandise cost $200. 5. Aug. 11 Purchased merchandise from Tanner Hardware on account for $2,000; terms 1/10, n/30. 6. Aug. 12 Paid freight of $200 on the shipment from ABC Co. per the shipping terms. 7. Aug. 15 Received payment full from D. Riley 8. Aug 19 Paid ABC Co. in full. 9. Aug. 20 Paid Tanner Hardware in full. 10. Aug 27 Purchased office supplies for $250 cash