Please complete the parts from set (a3) that are incorrect (the ones marked red).

Accounting Cycle Review 7-01 a1-f2 (Part Level Submission) the Blossom Co. uses a perpetual inventory system and both working papers. Presented below are a series of transactions for Blossom Co. for the month of January. Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 60% of the sales price. n accounts receivable and an accounts payable subsidiary ledger. Balances related to both the general ledger and the subsidiary ledger for Blossom are indicated GENERAL LEDGER January 1 Opening Balance Account Number Account Title 101 Cash $32,000 Accounts Receivable 112 11,200 Notes Receivable 115 36,000 Inventory 15 Prepaid Insurance 130 1.500 157 Equipment 6,000 158 Accumulated Depreciation-Equip. 1,400 Accounts Payable 201 26,000 Owner's Capital 75,300 301 (from nts receivable able Iger) January 1 Opening Balance Customer Beltre $1,200 Santos 7,000 Mahay 3,000 Schedule of Accounts Payable (from accounts payable subsidiary ledger) January 1 Opening Balance Customer S. Meek $7,000 R. Moses 12,000 D. Saito 7,000 Sell merchandise on account to B. Corpas $3,000, invoice no. 510, and to J. Revere $1,500, invoice no. 511 Purchase merchandise from S. Gamel $5,000 and D. Posey $2,000, terms n/30. Jan. Receive checks from S. Mahay $3,000 and B. Santos $2,000 after discount period has lapsed. 7 8 Pay freight on merchandise purchased $220. Send checks to S. Meek for $7,000 less 2% cash discount, and to D. Saito for $7,000 less 1% cash discount Issue credit of $300 to J. Revere for merchandise returned. 10 Daily cash sales from January 1 to January 10 total $14,000. Make one journal entry for these sales. Sell merchandise on account to R. Beltre $1,200, invoice no. 512, and to S. Mahay $900, invoice no. 513 11 12 Pay rent of $1,000 for January. Receive payment in full from B. Corpas and J. Revere less cash discounts. 13 15 Withdraw $800 cash by M. Blossom for personal use. 15 Post all entries to the subsidiary ledgers. 16 Purchase merchandise from D. Saito $14,000, terms 1/10, n/30; S. Meek $14,000, terms 2/10, n/30; and S. Gamel $1,000, terms n/30. Pay $400 cash for office supplies. 17 18 Return $200 of merchandise to S. Meek and receive credit. 20 Daily cash sales from January 11 to January 20 total $18,600. Make one journal entry for these sales. Issue $12,000 note, maturing in 90 days, to R. Moses in payment of balance due. 21 Receive payment in full from S. Mahay less cash discount 21 Sell merchandise on account to B. Corpas $2,500, invoice no. 514, and to R. Beltre $2,000, invoice no. 515. 22 23 Send checks to D. Saito and S. Meek in full payment less cash discounts. Sell merchandise on account to B. Santos $3,000, invoice no. 516, and to J. Revere $6,000, invoice no. 517 25 27 Purchase merchandise from D. Saito $14,000, terms 1/10, n/30; D. Posey $3,200, terms n/30; and S. Gamel $5,000, terms n/30. Post all entries to the subsidiary ledgers 27 28 Pay $200 cash for office supplies. 31 Daily cash sales from January 21 to January 31 total $21,000. Make one journal entry for these sales. 31 Pay sales salaries $4,000 and office salaries $3,000. (a1) Your answer is correct. Record the January transactions in sales journal. (Post entries in the order presented in the problem statement.) Sales Journal S1 Account Receivable Dr. Cost of Good Sold Dr. Date Account Debited Ref. Invoice No. Sales Revenue Cr. Inventory Cr. B. Corpas Jan. 3 510 3,000 1800 V Jan. 3 J. Revere 511 1,500 900 R. Beltre Jan. 11 512 1,200 720 Jan. 11 S.Mahay 513 900 540 V Jan. 22 B. Corpas 514 2,500 1,500 V Jan. 22 R. Beltre 515 2,000 1,200 B. Santos Jan. 25 516 3,000 1,800 V Jan. 25 J. Revere 517 3600 6,000 20,100 12,060 (a2) Your answer is correct. Record the January transactions in a single-column purchases journal. (Post entries in the order presented in the problem statement.) Purchases Journal P1 Inventory Dr. Accounts Payable Cr. Date Account Credited Terms Ref. V n/30 Jan. 5 S. Gamel 5,000 D. Posey n/30 V Jan. 5 2,000 V 1/10, n/30 D. Saito Jan. 16 14,000 S. Meek Jan. 16 2/10, n/30 V 14,000 S. Gamel V n/30 Jan. 16 1,000 Jan. 27 D. Saito 1/10, n/30 V 14,000 V D. Posey n/30 Jan. 27 3,200 Jan. 27 S. Gamel n/30 5,000 58,200 (a3) Your answer is partially correct. Try again. Record the January transactions in a cash receipts journal. (Post entries in the order presented in the problem statement.) Cash Receipts Journal CR1 Sales Discounts Sales Other Accounts Cash Cost of Good Sold Dr. Date Revenue Account Credited Ref. Account Receivable Cr. Dr. Dr. Cr. Cr. Inventory Cr. S. Mahay Jan. 7 3000 3,000 Jan. 7 B. Santos 2,000 2000 Jan. 10 14,000 14000 8400 Jan. 13 . as 3340 60 3000 Jan. 13 J. Revere 1470 2000 Jan. 20 18600 11160 18,600 Jan. 21 S. Mahay 882 18 900 Jan. 31 21,000 21000 12600 x 53600 32160 64292 108 10900