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Please answer part A & B clearly R. Crane Co. uses special journals and a general journal. The following transactions occurred during May 2022. May
Please answer part A & B clearly
R. Crane Co. uses special journals and a general journal. The following transactions occurred during May 2022. May R. Crane invested $45,200 cash in the business. 1 2 Sold merchandise to Lawrie Co. for $6,630 cash. The cost of the merchandise sold was $4,760. 3 Purchased merchandise for $7,210 from J. Moskos using check no. 101. 14 Paid salary to H. Rivera $550 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $865, terms n/30. The cost of the merchandise sold was $575. 22 A check of $9.000 is received from M. Mangini in full for invoice 101: no discount given. (a) Prepare a multiple-column cash receipts Journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement.) CRANE CO. eceipts Journal (a) Prepare a multiple-column cash receipts journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement.) R. CRANE C Cash Receipts Cash Account Credited Date Ref. Dr. 2022 > Sales Discounts Dr. (a) Prepare a multiple-column cash receipts journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement.) CRANE CO. eceipts Journal CR1 Sales Revenue Other Accounts Cost of Goods Sold Dr. Cr. Cr. Inventory Cr. Accounts Receivable Cr. (b) Prepare a multiple-column cash payments journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement.) R. CRANE CO. Cash Payments Journal Date Ck. No. Account Debited Ref. Accounts Payal 2022 Other Accounts Dr. (b) Prepare a multiple-column cash payments journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement.) R. CRANE CO. Cash Payments Journal CP1 Ref. Accounts Payable Dr. Inventory Cr. Cash Cr. Other Accounts Dr Step by Step Solution
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