Problem 6-3 Listed below are transactions of the Peter Merchandising Firm. Nov. 1 Received payment from XYZ Co., $300 less 2% discount. Nov. 3 Sold merchandise to Smith Co. on account, invoice no. 1502, $785, 2/10,n/30. Nov.4 Purchased merchandise from Labortz Co. on account, invoice no. 1019, dated 11/1, $1,800. Terms 2/10, n/30. Nov.5 Received a memorandum noting the return of merchandise from the 113 to the Smith Co., $150. Nov. 7 Paid salaries, $2,500, check #1516 Nov. 8 Recorded depreciation on the store equipment, $1,000. Nov. 10 Sold merchandise to Billups Co. on account, invoice no. 1503, 8950, 2/10,n/30 Nov. 13 Received payment from Smith Co., for 11/3 sale, less the 11/5 return an Nov. 14 Paid Labortz Co. for the 11/4 purchase, $1,800 less applicable discount Nov. 16 Purchased store supplies, $200 on account. Nov. 21 Received payment from Billups Co., for 11/10, purchase $950. Required: 1) State which journal each transaction is recorded. 2) Record each transaction in the appropriate journal. 3) 3.) Foot and cross foot the journals. applicable discount. Check #1517 Problem 6-3 Listed below are transactions of the Peter Merchandising Firm. Nov. 1 Received payment from XYZ Co., $300 less 2% discount. Nov. 3 Sold merchandise to Smith Co. on account, invoice no. 1502, $785, 2/10,n/30. Nov.4 Purchased merchandise from Labortz Co. on account, invoice no. 1019, dated 11/1, $1,800. Terms 2/10, n/30. Nov.5 Received a memorandum noting the return of merchandise from the 113 to the Smith Co., $150. Nov. 7 Paid salaries, $2,500, check #1516 Nov. 8 Recorded depreciation on the store equipment, $1,000. Nov. 10 Sold merchandise to Billups Co. on account, invoice no. 1503, 8950, 2/10,n/30 Nov. 13 Received payment from Smith Co., for 11/3 sale, less the 11/5 return an Nov. 14 Paid Labortz Co. for the 11/4 purchase, $1,800 less applicable discount Nov. 16 Purchased store supplies, $200 on account. Nov. 21 Received payment from Billups Co., for 11/10, purchase $950. Required: 1) State which journal each transaction is recorded. 2) Record each transaction in the appropriate journal. 3) 3.) Foot and cross foot the journals. applicable discount. Check #1517