Problem 7-3A Special journals, subsidiary ledgers, and schedule of accounts payable-perpetual LO C3, P1, P2 Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr. 2 Purchased $16,000 of merchandise on credit from Noth Company, invoice dated April 2, terms 2/10, n/60. 3 Sold merchandise on credit to Page Alistair, Invoice No. 760, for $5,900 (cost is $2,800). 3 Purchased $1,590 of office supplies on credit from Custer, Inc. Invoice dated April 2, terms n/10 EOM. 4 Issued check No. 587 to World View for advertising expense, $906. 5 Sold merchandise on credit to Paula Kohr, Invoice No. 761, for $9,400 (cost is $6,700). 6 Received an $65 credit memorandum from Custer, Inc., for the return of some of the office supplies received on April 3. 9 Purchased $12,900 of store equipment on credit from Hal's Supply, invoice dated April 9, terms n/10 EOM. 11 Sold merchandise on credit to Nic Nelson, Invoice No. 762, for $11,900 (cost is $7,500). 12 Issued Check No. 5BB to Noth Company in payment of its April 2 invoice less the discount. 13 Received payment from Page Alistair for the April 3 sale less the discount. 13 Sold $ 7,200 of merchandise on credit to Page Alistair (cost is $3,000), Invoice No. 763. 14 Received payment from Paula Kohr for the April 5 sale less the discount. 16 Issued Check No. 589, payable to Payroll, in payment of sales salaries expense for the first half of the month, $10.450. Cashed he check and paid employees. 16 Cash sales for the first half of the month are $57,200 (cost is $39,800). (Cash sales are recorded daily from cash register data but are recorded only twice in this problem to reduce repetitive entries.) 17 Purchased $11, 600 of merchandise on credit from Grant Company, invoice dated April 17, terms 2/10, n/30. 1B Borrowed $50,000 cash from First State Bank by signing a long-term note payable. 20 Received payment from Nie Nelson for the April 11 sale less the discount. 20 Purchased $1,170 of store supplies on credit from Hal's Supply, Invoice dated April 19, terms n/10 EOM. 23 Received a $1,000 credit memorandum from Grant Company for the return of defective merchandise received on April 23 Received payment from Page Alistair for the April 13 sale less the discount. 25 Purchased $11,720 of merchandise on credit from Noth Company, invoice dated April 24, terms 2/10, n/60. 26 Issued Check No. 590 to Grant Company in payment of its April 17 invoice less the return and the discount. 27 Sold $3,310 of merchandise on credit to Paula Kohr, Invoice No. 764 (cost is $2,680). 27 Sold $9,600 of merchandise on credit to Nic Nelson, Invoice No. 765 (cost is $4,775). 30 Issued Check No. 591, payable to Payroll, in payment of the sales salaries expense for the last half of the month, $10,450. 30 Cash sales for the last half of the month are $79,200 (cost is $66,000). Assume that Wiset Co. uses the perpetual Inventory system. Required: 1-a. Review the April transactions of Wiset Company and enter those transactions that should be journalized in the purchases journal. 1-b. Review the April transactions of Wiset Company and enter those transactions that should be journalized in the cash disbursements Journal 1-c. Prepare a general journal. Review the April transactions of Wiset Company and enter those transactions that should be journalized in the general journal. 2 & 3. Enter the March 31 balances of Cash ($81,000). Inventory ($132,000). Long-Term Notes Payable ($113,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the following general ledger accounts and in the accounts payable subsidiary ledger accounts for Hal's Supply, Noth Company, Grant Company and Custer, Inc. 4-a. Prepare a trial balance. 4-b. Prepare a schedule of accounts payable. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 1C Reg 2 and 3 Req 4A Reg 4B Review the April transactions of Wiset Company and enter those transactions that should be journalized in the purchases journal. PURCHASES JOURNAL Account Date of Terms Invoice Accounts Payable Cromer Office Other Supplies Dr. Accounts 4/2 Date Apr. 02 Apr 03 Apr 09 Apr. 17 Apr. 20 Apr. 25 Noth Company Office supplies/Custer Inc Store equipment/Hal's Supply Grant Company Store supplies/Hal's Supply Noth Company 4/2 4/9 4/17 4/19 2/10, 1/60 n/10, EOM n/10, EOM 2/10, 1/30 1/10, EOM 2/10, 1/60 Apr. 30 Totals S 0S 0S 0S 0 Reg 1A Reg 1B > Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 10 Reg 2 and 3 Req 4A Req 4B Review the April transactions of Wiset Company and enter those transactions that should be journalized in the cash disbursements journal. CASH DISBURSEMENTS JOURNAL Date Ck. No. Payee Account Debited Cash Cr Inventory Cr Other Accounts Dr. Accounts Payable Dr. Apr. 04 Apr. 12 Apr. 16 Apr. 26 Apr. 30 Apr. 30 Totals S 0S 0S 0S 0 Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 1C Reg 2 and 3 Req 4A Reg 4B Enter the March 31 balances of Cash ($81,000), Inventory ($132,000), Long-Term Notes Payable ($113,000), and B. Wiset, Capital ($100,000). Post th the journal in the following general ledger accounts and in the accounts payable subsidiary ledger accounts for Hal's Supply, Noth Company, Grant Com GENERAL LEDGER Cash Debit Inventory Debit Date Credit Balance Date Credit Balance Mar. 31 Mar. 31 Office Supplies Debit Store Supplies Debit Date Credit Balance Date Credit Balance Store Equipment Debit Accounts Payable Debit Date Credit Balance Date Credit Balance Long-Term Notes Payable Debit Credit B. Wiset, Capital Debit Date Balance Date Credit Balance Mar. 31 Mar. 31 Store Equipment Debit Accounts Payable Debit Date Credit Balance Date Credit Balance Long-Term Notes Payable Debit Credit Date Balance Date B. Wiset, Capital Debit Credit Balance Mar. 31 Mar. 31 Sales Salaries Expense Debit Credit Advertising Expense Debit Credit Date Balance Date Balance ACCOUNTS PAYABLE LEDGER Custer, Inc. Debit Credit Grant Company Debit Date Balance Date Credit Balance Hal's Supply Debit Noth Company Debit Date Credit Balance Date Credit Balance ( Req 1C Req 4A > Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 1C Reg 2 and 3 Reg 4A Reg 4B Prepare a trial balance. WISET COMPANY Trial Balance April 30 Debit Credit Totals S 0 S Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 1C Regic Reg 2 and 3 Reg 2 and 3 Reg 4A Reg en Reg AB Reg 4B Prepare a schedule of accounts payable. WISET COMPANY Schedule of Accounts Payable April 30 Custer, Inc. Hal's Supply Noth Company Grant Company Total accounts payable 5 0