Presented below are selected accounts from the chart of accounts of Pharoah Company. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Pharoah completed the following transactions. Jan. Purchased merchandise on account from Gallagher Co. $10,000. 3 4 Purchased supplies for cash $80. 4 Sold merchandise on account to Wheeler $6,150, invoice no. 371, terms 1/10, n/30. 5 Returned $600 worth of damaged goods purchased on account from Gallagher Co. on January 3. 6 Made cash sales for the week totaling $3,110. 8 Purchased merchandise on account from Phegley Co. $4,700. 9 Sold merchandise on account to Linton Corp. $5,500, invoice no. 372, terms 1/10, n/30. 11 Purchased merchandise on account from Cora Co. $3,770. 13 Paid in full Gallagher Co. on account less a 2% discount. 13 Made cash sales for the week totaling $6,100. 15 Received payment from Linton Corp. for invoice no. 372. 15 Paid semi-monthly salaries of $13,600 to employees, 17 Received payment from Wheeler for invoice no. 371.