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Required information [The following information applies to the questions displayed below.] Wiset Company completes these transactions during April of the current year (the terms of

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Required information [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) Purchased $16,000 of merchandise on credit from Noth Company, terms 2/10, n/60 3 (a) Sold merchandise on credit to Page Alistair, Invoice No. 760, for $4,600 (cost is $3,300) 3 (b) Purchased $1,410 of office supplies on credit from Custer, Inc. terms n/30 Apr. Issued Check No. 587 to World View for advertising expense $919 4 credit to Paula Kohr, Invoice No. 761, for $9,100 (cost is $6,100) Sold merchandise 5 Returned $95 of office supplies purchased on April 3 to Custer, Inc. Wiset reduces accounts payable by that amount. 6 Purchased $10,905 of store equipment on credit from Hal's Supply, terms n/30 Sold merchandise on credit to Nic Nelson, Invoice No. 762, for $10,300 (cost is $7,000) Issued Check No. 588 to Noth Company in payment of its April 2 purchase less the discount of $320 Received payment from Page Alistair for the April 3 sale less the discount of $92 11 12 13 (a) 13 (b) Sold $12,600 of merchandise on credit to Page Alistair (cost is $4,100), Invoice No. 763. Received payment from Paula Kohr for the April 5 sale less the discount of $182 Issued Check No. 589 for $9,450, payee is Payroll, in payment of sales salaries expense for the first half of the month. 14 16 (a) 16 (b) Cash sales for the first half of the month are $54,200 (cost is $42,700). These cash sales are recorded in the cash receipts journal on April 16 Purchased $12,200 of merchandise on credit from Grant Company, terms 2/10, n/30 Borrowed $73, 000 cash from First State Bank by signing a long-term note payable. 20 (a) Received payment from Nic Nelson for the April 11 sale less the discount of $206 20 (b) Purchased $1,150 of store supplies on credit from Hal's Supply, terms n/30 17 18 23 (a) Returned $1,100 of defective merchandise purchased on April 17 to Grant Company. Wiset reduces accounts payable by that amount 23 (b) Received payment from Page Alistair for the April 13 sale less the discount of $252. Purchased $11,740 of merchandise on credit from Noth Company, terms 2/10, n/60. Issued Check No. 590 to Grant Company in payment of its April 17 invoice less the return and the $222 discount 25 26 27 (a) Sold $3,450 of merchandise on credit to Paula Kohr, Invoice No. 764 (cost is $2,760) 27 (b) Sold $9,500 of merchandise on credit to Nic Nelson, Invoice No. 765 (cost is $5,195) 30 (a) Issued Check No. 591 for $9,450, payee is Payroll, in payment of the sales salaries expense for the last half of the month 30 (b) Cash sales for the last half of the month are $74,900 (cost is $63,700). These cash sales are recorded in the cash receipts journal on April 30 Assume that Wiset Co. uses the perpetual inventory system. 4-a. Prepare a trial balance of the general ledger. 4-b. Prepare a schedule of accounts receivable. Complete this question by entering your answers in the tabs below. Req 4A Req 4B Prepare a trial balance of the general ledger. WISET COMPANY Trial balance April 30 Debit Credit Cash Accounts receivable Inventory Long-term notes payable B. Wiset, Capital Sales Sales discounts Cost of goods sold 0 0 Totals Complete this question by entering your answers in the tabs below. Req 4A Req 4B Req 4A Prepare a schedule of accounts receivable. WISET COMPANY Schedule of Accounts Receivable April 30 Paula Kohr Nic Nelson Page Alistair Total accounts receivable $ 0 Required information [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) Purchased $16,000 of merchandise on credit from Noth Company, terms 2/10, n/60 3 (a) Sold merchandise on credit to Page Alistair, Invoice No. 760, for $4,600 (cost is $3,300) 3 (b) Purchased $1,410 of office supplies on credit from Custer, Inc. terms n/30 Apr. Issued Check No. 587 to World View for advertising expense $919 4 credit to Paula Kohr, Invoice No. 761, for $9,100 (cost is $6,100) Sold merchandise 5 Returned $95 of office supplies purchased on April 3 to Custer, Inc. Wiset reduces accounts payable by that amount. 6 Purchased $10,905 of store equipment on credit from Hal's Supply, terms n/30 Sold merchandise on credit to Nic Nelson, Invoice No. 762, for $10,300 (cost is $7,000) Issued Check No. 588 to Noth Company in payment of its April 2 purchase less the discount of $320 Received payment from Page Alistair for the April 3 sale less the discount of $92 11 12 13 (a) 13 (b) Sold $12,600 of merchandise on credit to Page Alistair (cost is $4,100), Invoice No. 763. Received payment from Paula Kohr for the April 5 sale less the discount of $182 Issued Check No. 589 for $9,450, payee is Payroll, in payment of sales salaries expense for the first half of the month. 14 16 (a) 16 (b) Cash sales for the first half of the month are $54,200 (cost is $42,700). These cash sales are recorded in the cash receipts journal on April 16 Purchased $12,200 of merchandise on credit from Grant Company, terms 2/10, n/30 Borrowed $73, 000 cash from First State Bank by signing a long-term note payable. 20 (a) Received payment from Nic Nelson for the April 11 sale less the discount of $206 20 (b) Purchased $1,150 of store supplies on credit from Hal's Supply, terms n/30 17 18 23 (a) Returned $1,100 of defective merchandise purchased on April 17 to Grant Company. Wiset reduces accounts payable by that amount 23 (b) Received payment from Page Alistair for the April 13 sale less the discount of $252. Purchased $11,740 of merchandise on credit from Noth Company, terms 2/10, n/60. Issued Check No. 590 to Grant Company in payment of its April 17 invoice less the return and the $222 discount 25 26 27 (a) Sold $3,450 of merchandise on credit to Paula Kohr, Invoice No. 764 (cost is $2,760) 27 (b) Sold $9,500 of merchandise on credit to Nic Nelson, Invoice No. 765 (cost is $5,195) 30 (a) Issued Check No. 591 for $9,450, payee is Payroll, in payment of the sales salaries expense for the last half of the month 30 (b) Cash sales for the last half of the month are $74,900 (cost is $63,700). These cash sales are recorded in the cash receipts journal on April 30 Assume that Wiset Co. uses the perpetual inventory system. 4-a. Prepare a trial balance of the general ledger. 4-b. Prepare a schedule of accounts receivable. Complete this question by entering your answers in the tabs below. Req 4A Req 4B Prepare a trial balance of the general ledger. WISET COMPANY Trial balance April 30 Debit Credit Cash Accounts receivable Inventory Long-term notes payable B. Wiset, Capital Sales Sales discounts Cost of goods sold 0 0 Totals Complete this question by entering your answers in the tabs below. Req 4A Req 4B Req 4A Prepare a schedule of accounts receivable. WISET COMPANY Schedule of Accounts Receivable April 30 Paula Kohr Nic Nelson Page Alistair Total accounts receivable $ 0

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