RMPW makes and sells premium Ultimate Ale and related products. All purchases and sales are made on credit. RMPW uses the perpetual inventory system. They also use the 3-way match to verify invoices and to record purchases. Below is a partial list of events for the company. Analyze the three events below and complete the requirements.

1. June 15: Shipped and billed (Sold) 50 cases of ale to Eagles Bar for $500. Prepared invoice number 200. The ale cost RMPW $300.
2. July 17: Received $2,000 from Leo Guzzlers (customer) for goods that were delivered and billed the prior month.
3. July 31: Received invoice for $1,000 from Three Dogs Hops for raw materials that have been received and ordered. RMPW performed the 3-way match. (Assume RMPW records purchases when they perform the 3-way match).

Requirements: For each event identify the a) account (or accounts) debited, b) the account (or accounts) credited, c) the special journal used to record the event, and d) any subsidiary ledgers updated from the event.

Example:

Event: June 1: Paid $2,000 to Dog Town for goods that were received and invoiced the prior month.

Answer:

1. Accounts Payable
2. Cash
3. Cash Disbursement Journal
4. Accounts Payable Subsidiary Ledger

Please put your answers to transactions 1, 2, and 3 in the space below. Be sure to state the accounts debited, accounts credited, which special journal is used, and which subsidiary ledgers are updated.