Record 10 transactions in the general journal and post to the general ledger, Accounts Receivable, and Accounts Payable subsidiary ledgers.

Dec 4 Purchased merchandise on account from Sports and Recreational Supplies Co. Terms is 2/15, net 30 and the invoice price is the last four digit of your Student ID number (e.g., if the last four digit of your Student ID number is 1234, the invoice price is $1,234. If the last four digit of your Student ID number is 0987, the invoice price is $987.)

Dec 5 Received payment from Freestyle Company for the 11/21/18 sales invoice #888. (Hint: when you look in the A/R subsidiary ledger to find out the amount of the payment, make sure to look to see if Freestyle company returned any of the goods invoiced on #888. If they did return any goods, the amount of the A/R would be the original invoiced amount minus the returned goods. Make sure to check for this on future transactions. Also, remember that sales on credit are given terms 2/20, Net 30 (see page 2 in GIAF Case Introduction). You need to determine if payments should be net of a discount).

Dec 5 Issued check #599 to Bike Parts Co in payment of 11/26/18 purchase. (Hint: Look in the A/P subsidiary ledger to the left of the name of the company to find the subsidiary account number. Also, look in the A/P subsidiary ledger to find the 11/26 purchase and the amount. DON’T FORGET to check whether GIAF gets a purchase discount for paying within the discount window. You can find the terms in the A/P subsidiary ledger below each company’s name. Remember to do this for each purchase).

Dec 6 Sold merchandise on account to The Sports Store. Sales invoice number is #897 and the invoice price is the fifth to ninth digit of your Student ID number (e.g., if the fifth to ninth digit of your Student ID number is 18843, the invoice price is $18,843).

Dec 7 Issued a credit memo to The Sports Store for sales merchandise returned, $150. This merchandise was originally sold on 12/6/18, on sales invoice #897.

Dec 7 Sold merchandise on account to Ed’s Bike Shop, $15,239, sales invoice #898.

Dec 7 Received payment from Kent Recreation for the 11/28/18 sales invoice #891. (Hint: remember that sales on credit are given terms 2/20, Net 30. You need to determine if payments should be net of a discount. Subsidiary account numbers can be found in the A/R subsidiary ledger. Remember to check for this for all payments received).

Dec 8 Issued check #600 to Gears Supply Store in payment of 11/30/18 purchase. (Hint: when you look in the A/P subsidiary ledger to find out the amount for this payment, notice that GIAF returned some of the merchandise originally purchased on 11/30. So the A/P recorded in the payment journal should be the original amount less the returned amount. Make sure to look for this in future transactions).

Dec 9 Sold merchandise on account to Target, $8,797, sales invoice #899.

Dec 10 Prepared a debit memo to Cruz Co. for merchandise returned in the amount of $616. This merchandise was originally purchased on 12/2/18.