Required:

1-a. Enter the transactions of the Wiset Company that should be journalized in the sales journal.

1-b. Enter the transactions of the Wiset Company that should be journalized in the cash receipts journal. The terms of all credit sales

are 2/10. n/30.

2. Enter the March 31 balances for Cash ($74,000), Inventory ($189,000), Long-Term Notes Payable ($163,000), and B. Wiset, Capital

($100,000). Post the total amounts from the journal in the respective general ledger accounts.

3. Enter the March 31 balances for Cash ($74,000), Inventory ($189,000), Long-Term Notes Payable ($163,000), and B. Wiset, Capital

($100,000). Post the total amounts from the journal in the respective accounts receivable subsidiary ledger accounts for Paula Kohr,

Page Alistair, and Nic Nelson.

4-a. Prepare a trial balance of the general ledger accounts.

4-b. Prepare a schedule of accounts receivable.

Required information Use the following information for the Problems below. (Algo) (The following information applies to the questions displayed below.) Wiset Company completes these transactions during April of the current year the terms of all its credit sales are 2/10, n/30) April 2 Purchased $14,700 of merchandise on credit from Noth Company, terms 2/10, n/60. April 3 (a) Sold merchandise on credit to Page Alistair, Invoice Number 760, for $10,000 (cost is $9,000), April 3 (b) Purchased $1,520 of office supplies on credit from Custer, Incorporated, terms n/30. April 4 Issued Check Number 587 to World View for advertising expense of $931. April 5 Sold merchandise on credit to Paula Kohr, Invoice Number 761, for $18,000 (cost is $16,500). April 6 Returned $70 of office supplies purchased on April 3 to Custer, Incorporated. Wiset reduces accounts payable by that amount. April 9 Purchased $12, 125 of store equipment on credit from Hal's Supply, terms n/30. April 11 Sold merchandise on credit to Nie Nelson, Invoice Number 762, for $21,100 (cost is $17,600). April 12 Issued Check Number 588 to Noth Company in payment of its April 2 purchase less the discount of $294. April 13 (a) Received payment from Page Alistair for the April 3 sale less the discount of $200. April 13 (b) Sold $9,500 of merchandise on credit to Page Alistair (cost is $8,000), Invoice Number 763. April 14 Received payment from Paula Kohr for the April 5 sale lens the discount of $360. April 16 (a) Issued Check Number 589 for $11,050; payee is Payroll, in payment of sales salaries expense for the first half of the month. April 16 (b) Cash sales for the first half of the month are $53,040 (cost is $36,080). These cash sales are recorded in the cash receipts journal on April 16. April 17 Purchased $13,650 of merchandise on credit from Grant Company, terms 2/10, 1/30. April 18 Borrowed $60,000 cash from First State Bank by signing a long-term note payable. April 20 (a) Received payment from Nie Nelson for the April 11 sale less the discount of $422. April 20 (b) Purchased 5930 of store supplies on credit from Hal's supply, terma n/30. April 23 (a) Returned $750 of defective merchandise purchased on April 17 to Grant company. Wiset reduces accounts payable by that amount. April 23 (b) Received payment from Page Alistair for the April 13 male less the discount of $190. April 25 Purchased $11,175 of merchandise on credit from Moth Company, terma 2/10, n/60. April 26 Tonued Check Number 590 to Grant Company in payment of its April 17 invoice less the return and the $250 discount Prey 1 of 1 !!! Next April 23. ja) Returned $750 of defective merchandise purchased on April 11' to Grant Company. Wiset reduces accounts payable by that anount. April 23 (b) Received payment from Page Alistair for the April 13 sale less the discount of $190. April 25 Purchased $11,175 of merchandise on credit from Noth company, terms 2/10, n/60. April 26 Issued Check Number 590 to Grant Company in payment of its April 17 invoice less the return and the $258 discount. April 27 (a) sold $5,940 of merchandise on credit to Paula Kohr, Invoic, Number 764 (cost 18 $5,290) April 27 (b) sold $15,000 of merchandise on credit to Nic Nelson, Invoite Number 765 (cost is $12, 605). April 30 (a) Issued Check Number 591 for $11,050; payee is Payroli, in payment of the sales salaries expense for the last half of the month. April 30 (b) Cash sales for the last half of the month are $72,975 (cost is $57,900). These cash sales are recorded in the cash receipts journal on April 30. ok ht inces Problem 7-2A (Algo) Special journals, subsidiary ledgers, and schedule of accounts receivable LO P1, P2 Required: 1-a. Enter the transactions of the Wiset Company that should be journalized in the sales journal 1-b. Enter the transactions of the Wiset Company that should be journalized in the cash receipts journal. The terms of all credit sales are 2/10, n/30 2. Enter the March 31 balances for Cash ($74,000), Inventory ($189,000), Long-Term Notes Payable ($163,000), and B. Wiset. Capital ($100,000). Post the total amounts from the journal in the respective general ledger accounts. 3. Enter the March 31 balances for Cash ($74.000), Inventory ($189,000), Long-Term Notes Payable ($163,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the respective accounts receivable subsidiary ledger accounts for Paula Kohr Page Alistalt, and Nic Nelson 4-8. Prepare a trial balance of the general ledger accounts. 4-b. Prepare a schedule of accounts receivable. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 Req3 Reg 4 Req 4B Enter the March 31 balances for Cash ($74,000), Inventory ($189,000), Long-Term Notes Payable ($163,000), and B. Wiset, Capital ($100,000). Post the total amounts journal in the respective general ledger accounts GENERAL LEDGER Cash Dato Debit Accounts Receivable Debit Credit Balance Date Credit Balance March 31 Inventory Debit Dale Credit Balance Date Long-Term Notes Payable Debit Credit Balance March 31 March 31 B Wisat, Capital Debit Sales Date Credit Balance Date Debit Credit March 31 Balance All Prgy 1 of Next Inventory Debit Long-Term Notes Payable Debit Date Credit Balance Date Credit Balance March 31 March 31 B. Wiset, Capital Debit Sales Date Credit Balance Date Debit Credit Balance March 31 Sales Discounts Debit Date Cost of Goods Sold Debit Credit Balance Date Credit Balance Reg 1A Reg 18 Reg 2 Reg 3 Reg 4 Rea 45 Enter the March 31 balances for Cash ($74,000), Inventory ($189,000), Long-Term Notes Payable ($163,000), and B. Wiset, Capital ($100,000). Post the total amounts/ Journal in the respective accounts receivable subsidiary ledger accounts for Paula Kohr, Page Alistair, and Nic Nelson, ON ACCOUNTS RECEIVABLE LEDGER Page Alistair Debit Paula Koht Debit Date Credit Balance Date Credit Balance Nio Nelson Debit Date Credit Balance MC Graw Proy 1 of 1 181 Next Req 1A Req 1B Reg 2 Req3 Req 4A Reg 4B Prepare a trial balance of the general ledger accounts. WISET COMPANY Trial Balance April 30 Debit Credit Totals $ 0 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req3 Req 4A Req 4B Prepare a schedule of accounts receivable. WISET COMPANY Schedule of Accounts Receivable April 30 Paula Kohr Nic Nelson Page Alistair Total accounts receivable $ 0 Reg 1A Reg 18 Reg 2 Reg 3 Reg 4 Rea 45 Enter the March 31 balances for Cash ($74,000), Inventory ($189,000), Long-Term Notes Payable ($163,000), and B. Wiset, Capital ($100,000). Post the total amounts/ Journal in the respective accounts receivable subsidiary ledger accounts for Paula Kohr, Page Alistair, and Nic Nelson, ON ACCOUNTS RECEIVABLE LEDGER Page Alistair Debit Paula Koht Debit Date Credit Balance Date Credit Balance Nio Nelson Debit Date Credit Balance MC Graw Proy 1 of 1 181 Next Req 1A Req 1B Reg 2 Req3 Req 4A Reg 4B Prepare a trial balance of the general ledger accounts. WISET COMPANY Trial Balance April 30 Debit Credit Totals $ 0 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req3 Req 4A Req 4B Prepare a schedule of accounts receivable. WISET COMPANY Schedule of Accounts Receivable April 30 Paula Kohr Nic Nelson Page Alistair Total accounts receivable $ 0