Post the transactions in the following ledger accounts i) Cash ii) Merchandise Inventory iii) Cost of Goods Sold from below Journal entries:

Post the transactions in the following ledger accounts i) Cash ii) Merchandise Inventory iii) Cost of Goods Sold

Date Amount Calculation Robinson Co. Ltd. Journal entries Question 1-May Account to be debited is Debit amount is Account to be credited is Credit amount is Account Merchandise Inventory $4,600 Accounts Payable $4,600 Cost of Goods Sold $ 1,300 Sales $ 2,100 2-May Account to be debited (in relation to income) is Debit amount is Account to be credited (in relation to income) is Credit amount is The other account to be debited is Debit amount is The other account to be credited is Credit amount is Accounts Receivable $ 2,100 Merchandise Inventory $ 1,300 Merchandise Inventory $ 1,500 5-May Account to be debited is Debit amount is Account to be credited is Credit amount is Cash $1,500 Accounts Payable $ 300 7-May Account to be debited is Debit amount is Account to be credited is Credit amount is Merchandise Inventory $ 300 Accounts Payable $ 4,300 10-May Account to be debited is Debit amount is Account to be credited (lesser of the two credits) is Credit amount is The other account to be credited is Credit amount is Merchandise Inventory 4300*2% $ 86 Cash $ 4,214 Cash $ 2,079 12-May Account to be debited (greater of the two debits) is Debit amount is The other account to be debited is Debit amount is Account to be credited is Credit amount is Sales Discounts $ 21 2100*1% Accounts Receivable $2,100 Cash $ 150 15-May Account to be debited is Debit amount is Account to be credited is Credit amount is Merchandise Inventory $ 150