Requirement 2

Prepare the journal entries for the move transactions

A) record the credit sales

B) Record the amount of cash collected from customers during the month

C) Record the purchase of supplies on cash

D) Record the supplies used during the month

E) Record the wages accrued for the month

F) Record the wages paid during the month

For each of the following situation, solve for a missing amount. In each case, there is only one debit entry and one credit entry in the account during the month. Requirement 1: a. Accounts Receivable had a balance of $720 at the beginning of the month and $540 at the end of the month. Credit sales totaled $7,200 during the month. Calculate the cash collected from customers during the month, assuming that all sales were made on account. Cash collected from customers b. The Supplies account had a balance of $324 at the beginning of the month and $438 at the end of the month. The cost of supplies used during the month was $1,404. Calculate the cost of supplies purchased during the month. Cost of supplies purchased c. Wages Payable had a balance of $246 at the beginning of the month. During the month, $2,280 of wages were paid to employees. Wages Expense accrued during the month totaled $2,460. Calculate the balance of Wages Payable at the end of the month. Wages payable