PLESE IGNORE THE VALUES AFTER THE STAR (*) SIGN

The selected accounts in Khalid Companys chart of accounts are: 112 Accounts Receivable, 120 Merchandise Inventory, 126 Supplies, 157 Equipment, 201 Accounts Payable, 401 Sales, 414 Sales returns and allowances, 505 Cost of goods sold, 610 Advertising In May the following selected transactions were completed. All purchases and sales were on account. The cost of all merchandise sold was 64*65% of the sales price. 3-May Purchased merchandise from Omer Company $29168*28,500 4-May Received freight bill from Fast Freight on Omer purchase $1660*1,425 7-May Sales were made to Chaudary Bros. $10985*10,260 7-May Sales were made to Mahir Company $7981*7,410 7-May Sales were made to Laiba Company $6595*5,700 8-May Purchased merchandise from Wajiha Company $31226*30,780 8-May Purchased merchandise from Zaitoon Company $17228*17,100 13-May Received credit on merchandise returned to Zaitoon Company $2280*1,995 17-May Purchased supplies from Mahams Supplies. $3873*3,420 18-May Purchased merchandise from Omer Company. $18371*17,670 18-May Purchased merchandise from Wajiha Company. $27554*27,360 19-May Returned supplies to Mahams Supplies, receiving credit $568*399 20-May Received freight bills on May 18 purchases from Fast Freight. $1887*1,853 20-May Returned merchandise to Omer Company receiving credit. $1274*1,140 25-May Made sales to Chaudary Bros. $9821*9,120 25-May Made sales to to Laiba Company $14737*14,250 25-May Received bill for advertising from Orient Advertising $3737*3,534 27-May Granted allowance to Laiba Company for merchandise damaged for $916*798 28-May Purchased equipment from Mahams Supplies $2956*2,280 Instructions: (a) The cost of goods sold for sale made to Chaudary Bros. on May 7th was Blank 1. Calculate the answer by read surrounding text. (b) Journalize the transactions above in a purchases journal, a sales journal, and a general journal. The purchases journal should have the following column headings: Date, Account Credited/(Debited), Ref., Accounts Payable Cr., Merchandise Inventory Dr., and Other Accounts Dr. (c) Post to both the general and subsidiary ledger accounts. (Assume that all accounts have zero beginning balances.) Use three columnar account format. (d) Prove the agreement of the control account and subsidiary account balances