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Brief Exercise 7-10 Rauch Computer Components Inc. uses a multi-column cash receipts journal. Indicate which column(s) is/are posted only in total, only daily, or both in total and daily. (a) Accounts Accounts Receivable (b) Sales Discounts (c) Cash (d) Other Accounts Column in Cash Journal Receipts Exercise 7-5 (Part level Submission) Pennington Company has a balance in its Accounts Payable control account of $8,201 on January 1, 2014. The subsidiary ledger contains three accounts: Hale Company, balance $2,564; Janish Company, balance $1,993; and Valdez Company. During January, the following payable-related transactions occurred. Purchase s Payments Returns $6,631 $5,625 $ -0- Janish Company 4,978 1,993 3,274 Valdez Company 6,616 6,953 -0- Hale Company Don't show me this message again for the assignment (a) Your answer is incorrect. Try again. What is the January 1 balance in the Valdez Company subsidiary account? Balance in the Valdez Company subsidiary account $ Exercise 7-7 (Part level Submission) R. Santiago Co. uses special journals and a general journal. The following transactions occurred during May 2014. May 1 R. Santiago invested $52,530 cash in the business. 2 Sold merchandise to Lawrie Co. for $6,064 cash. The cost of the merchandise sold was $4,591. 3 Purchased merchandise for $7,116 from J. Moskos using check no. 101. 14 Paid salary to H. Rivera $690 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $986, terms n/30. The cost of the merchandise sold was $562. 22 A check of $8,647 is received from M. Mangini in full for invoice 101; no discount given. Don't show me this message again for the assignment (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. SANTIAGO CO. Cash Receipts Journal CR1 Date Account R e Cash Sales Discounts Accounts Receivable Sales Revenue Other Accounts Cost of Goods Sold Dr. Credited f Dr. Don't show me this message again for the assignment Link to Text Cr. Cr. Cr. Dr. Inventory Cr