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Sandra Hills has opened Macchiato and More, a wholesale grocery and coffee company. The following transactions occurred in April: Click the icon to view the

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Sandra Hills has opened Macchiato and More, a wholesale grocery and coffee company. The following transactions occurred in April: Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize the transactions. Beginning balance of Merchandise Inventory is $5,100 for grocery merchandise and $7.400 for coffee. (Record debits first, then credits. Exclude explanations from journal entries. For purposes of this problem, ignore posting references.) April 1: Sold grocery merchandise to Fauna Co. on account, $900, invoice no 1. The cost of the merchandise was $630. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Journal Entry Date Account Titles PR Dr. Apr. Cr. More info 2018 Apr. e 70 th 1 Sold grocery merchandise to Fauna Co. on account, $900, invoice no. 1. The cost of the merchandise was $630. 4 Sold coffee merchandise to Goose Co.on account, $1,000, invoice no. 2. The cost of the merchandise was $700. 8 Sold grocery merchandise to Dreama Co. on account, $1,000, invoice no. 3. The cost of the merchandise was $700. 10 Issued credit memorandum no. 1 to Fauna Co. for $170 of grocery merchandise returned due to spoilage. The cost of the merchandise was $85. 15 Sold coffee merchandise to Goose Co. on account, $450, invoice no. 4. The cost of the merchandise was $315. 19 Sold grocery merchandise to Dreama Co. on account, $750, invoice no. 5. The cost of the merchandise was $525. 25 Sold coffee merchandise to Fauna Co. on account, $500, invoice no. 6. The cost of the merchandise was $400. ... Requirements 1. Journalize the transactions. Beginning balance of Merchandise Inventory is $5,100 for grocery merchandise and $7,400 for coffee. 2. Record to the accounts receivable subsidiary ledger and post to the general ledger as appropriate. 3. Prepare a schedule of accounts receivable for the end of April. Accounts Payable EC Accounts Receivable, Dreama Co. e Accounts Receivable, Fauna Co. Accounts Receivable, Goose Co. 1. KC Cash oc Coffee Merchandise Inventory dii Coffee Sales Cost of Goods Sold 1 1. Grocery Merchandise Inventory a roc Grocery Sales rdii o Sales Discount Sales Returns and Allowances R 1

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