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Selected accounts from the chart of accounts of Mercer Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and

Selected accounts from the chart of accounts of Mercer Company are shown below.

101 Cash

401 Sales Revenue

112 Accounts Receivable

412 Sales Returns and Allowances

120 Inventory

414 Sales Discounts

126 Supplies

505 Cost of Goods Sold

157 Equipment

726 Salaries and Wages Expense

201 Accounts Payable

The cost of all merchandise sold was 60% of the sales price. During January, Mercer completed the following transactions.

Jan. 3

Purchased merchandise on account from Gallagher Co. $9,000.

4

Purchased supplies for cash $90.

4

Sold merchandise on account to Wheeler $5,800, invoice no. 371, terms 1/10, n/30.

5

Returned $200 worth of damaged goods purchased on account from Gallagher Co. on January 3.

6

Made cash sales for the week totaling $3,380.

8

Purchased merchandise on account from Phegley Co. $5,800.

9

Sold merchandise on account to Linton Corp. $6,700, invoice no. 372, terms 1/10, n/30.

11

Purchased merchandise on account from Cora Co. $3,750.

13

Paid in full Gallagher Co. on account less a 2% discount.

13

Made cash sales for the week totaling $6,150.

15

Received payment from Linton Corp. for invoice no. 372.

15

Paid semi-monthly salaries of $14,700 to employees.

17

Received payment from Wheeler for invoice no. 371.

17

Sold merchandise on account to Delaney Co. $2,420, invoice no. 373, terms 1/10, n/30.

19

Purchased equipment on account from Dozier Corp. $5,750.

20

Cash sales for the week totaled $3,320.

20

Paid in full Phegley Co. on account less a 2% discount.

23

Purchased merchandise on account from Gallagher Co. $7,740.

24

Purchased merchandise on account from Atchison Corp. $5,070.

27

Made cash sales for the week totaling $4,650.

30

Received payment from Delaney Co. for invoice no. 373.

31

Paid semi-monthly salaries of $12,430 to employees.

31 Sold merchandise on account to Wheeler $9,890, invoice no. 374, terms 1/10, n/30.

Mercer Company uses the following journals.

1. Sales Journal

2. Single- Column Purchase Journal

3. Cash Reciept Journal

4. Cash Payment Journal

5. General Journal

Record and Post the January transactions in the appropriate journal noted. Foot and cross-foot all special journals. (Record entries in the order displayed in the problem statement.)

Sales Journal

S1

Date

Account Debited

Invoice No.

Ref.

Accounts Receivable Dr. Sales Revenue Cr.

Cost of Goods Sold Dr. Inventory Cr.

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

371372373374

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

371372373374

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

371372373374

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

371372373374

(112)(401)

(505)(120)

Purchases Journal

P1

Date

Account Credited

Ref.

Inventory Dr. Accounts Payable Cr.

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

(120)(201)

(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

General Journal

Date

Account Titles and Explanation

Debit

Credit

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cash Receipts Journal

CR1

Date

Account Credited

Ref.

Cash Dr.

Sales Discounts Dr.

Accounts Receivable Cr.

Sales Revenue Cr.

Other Accounts Cr.

Cost of Goods Sold Dr. Inventory Cr.

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

(101)

(414)

(112)

(401)

(X)

(505)(120)

Cash Payments Journal

CP1

Date

Account Debited

Ref.

Other Accounts Dr.

Accounts Payable Dr.

Inventory Cr.

Cash Cr.

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

126

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

726

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

726

(X)

(201)

(120)

(101)

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General Journal
Date	Account Titles and Explanation	Debit	Credit
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31

Jan. 3		Purchased merchandise on account from Gallagher Co. $9,000.
4		Purchased supplies for cash $90.
4		Sold merchandise on account to Wheeler $5,800, invoice no. 371, terms 1/10, n/30.
5		Returned $200 worth of damaged goods purchased on account from Gallagher Co. on January 3.
6		Made cash sales for the week totaling $3,380.
8		Purchased merchandise on account from Phegley Co. $5,800.
9		Sold merchandise on account to Linton Corp. $6,700, invoice no. 372, terms 1/10, n/30.
11		Purchased merchandise on account from Cora Co. $3,750.
13		Paid in full Gallagher Co. on account less a 2% discount.
13		Made cash sales for the week totaling $6,150.
15		Received payment from Linton Corp. for invoice no. 372.
15		Paid semi-monthly salaries of $14,700 to employees.
17		Received payment from Wheeler for invoice no. 371.
17		Sold merchandise on account to Delaney Co. $2,420, invoice no. 373, terms 1/10, n/30.
19		Purchased equipment on account from Dozier Corp. $5,750.
20		Cash sales for the week totaled $3,320.
20		Paid in full Phegley Co. on account less a 2% discount.
23		Purchased merchandise on account from Gallagher Co. $7,740.
24		Purchased merchandise on account from Atchison Corp. $5,070.
27		Made cash sales for the week totaling $4,650.
30		Received payment from Delaney Co. for invoice no. 373.
31		Paid semi-monthly salaries of $12,430 to employees.
		31 Sold merchandise on account to Wheeler $9,890, invoice no. 374, terms 1/10, n/30. Mercer Company uses the following journals. 1. Sales Journal 2. Single- Column Purchase Journal
		3. Cash Reciept Journal

Sales Journal
					S1
Date	Account Debited	Invoice No.	Ref.	Accounts Receivable Dr. Sales Revenue Cr.	Cost of Goods Sold Dr. Inventory Cr.
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies	371372373374
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies	371372373374
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies	371372373374
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies	371372373374

				(112)(401)	(505)(120)

Purchases Journal
			P1
Date	Account Credited	Ref.	Inventory Dr. Accounts Payable Cr.
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies

			(120)(201)

			Cash Payments Journal			CP1
Date	Account Debited	Ref.	Other Accounts Dr.	Accounts Payable Dr.	Inventory Cr.	Cash Cr.
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies	126
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies	726
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies
Jan. 3Jan. 4Jan. 5Jan. 6Jan. 8Jan. 9Jan. 11Jan. 13Jan. 15Jan. 17Jan. 19Jan. 20Jan. 23Jan. 24Jan. 27Jan. 30Jan. 31	Cora Co.Delaney Co.Linton Corp.Phegley Co.WheelerAtchison Corp.Gallagher Co.Salaries and Wages ExpenseSupplies	726

			(X)	(201)	(120)	(101)