R. Santiago Co. uses special journals and a general journal. The following transactions occurred during May 2022

E7.7 (LO 3), AP R. Santiago Co. uses special journals and a general journal. The following transactions occurred during May 2022 . May 1 R. Santiago invested $40,000 cash in the business. Sold merchandise to Lawrie Co. for $6,300 cash. The cost of the merchandise sold was $4,200. Purchased merchandise for $7,700 from J. Moskos using check no. 101 . 14 Paid salary to H. Rivera $700 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $900, terms n/30. The cost of the merchandise sold was $630. 22 A check of $9,000 is recelved from M. Mangini in full for invoice 101 ; no discount given. Instructions a. Prepare a multiple-column cash receipts journal (see Illustration 7.9) and a multiple-column cash payments journal (see Illustration 7.16). (Use page 1 for each journal.) b. Record the transaction(s) for May that should be journalized in the cash receipts journal and cash payments journal. (a) 8 (b) R. Santiago Co. Cash Receipts Journal Exercise 7 7 Date R Santiago Co