Purchases and Cash Payments Transactions Emily Frank owns a small retail business called Frank's Fantasy. The cash account has a balance of $21,000 on July 1. The following transactions occurred during July: July 1 Issued Check No. 414 in payment of July rent, $2,500. 1 Purchased merchandise on account from Tilly's Toys, Invoice No. 311, $2,800, terms 2/10, n/30. 3 Purchased merchandise on account from Scheer & Company, Involce No. 812, $3,300, terms 1/10,n/30. 5 Returned merchandise purchased from Tilly's Toys, receiving a credit memo on the amount owed, $300. 8 Purchased merchandise on account from Donna's Dolls, Invoice No. 139, $2,900, terms 2/10, n/30. 11 Issued Check No. 415 to Tilly's Toys for merchandise purchased on account, less return of July 5 and less 2% discount 13 Issued Check No. 416 to Scheer & Company for merchandise purchased on account, less 1% discount. 15 Returned merchandise purchased from Donna's Dolls, receiving a credit memo on the amount owed, $350. 18 Issued Check No. 417 to Donna's Dolls for merchandise purchased on account, less return of July 15 and less 2% discount. 25 Purchased merchandise on account from Applied Business, Invoice No. 489, $2,650, terms n/30. 26 Purchased merchandise on account from Tilly's Toys, Invoice No. 375, S2,180, terms 2/10, 1/30. 29 Purchased merchandise on account from Scheer & Company, Invoice No. 883, $3,560, terms 1/10, 1/30. 1. Enter the transactions starting with page 16 of a general journal. Enter the posting references when you complete part 2. GENERAL JOURNAL PAGE 16 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20- Jul. 1 Check No. 414 Jul. 1 Invoice No. 311 Jul. 3 IV Invoice No. 812 Jul. 5 IV Returned merchandise Jul. 8 1 Jul. 11 Check No. 415 Jul. 13 Check No. 416 Jul. 15 I Returned merchandise GENERAL JOURNAL PAGE 17 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20- Jul. 18 /V Check No. 417 Jul. 25 /V Invoice No. 489 Jul. 26 IV Invoice No. 375 Jul. 29 IV Invoice No. 883 2. Post from the journal to the general ledger and accounts payable ledger accounts. GENERAL LEDGER ACCOUNT Cash ACCOUNT NO. 101 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jul. 1 Balance 21,000.00