Selected accounts from the chart of accounts of Sandhill Co. are shown below. 101 Cash 306 Owner's Drawings 112 Accounts Receivable 401 Sales Revenue 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 131 Prepaid Rent 631 Supplies Expense 201 Accounts Payable 729 Rent Expense 301 Owner's Capital Presented below are the purchases and cash payments journals for Sandhill Co for its first month of operations PURCHASES JOURNAL P1 Inventory Dr. Date Account Credited Ref. Accounts Payable Cr. July 4 N. Alvarado 6,690 5 F. Rees 7,200 11 J. Gallup 5,710 13 C. Werly 16,100 20 M. Mangus 7,670 43,370 CASH PAYMENTS JOURNAL CP1 Cash Date Account Debited Other Accounts Accounts Payable Inventory Dr. Dr. Cr. Ref. Cr. July 4 Supplies 510 510 10 F. Rees 7,200 72 7,128 11 Prepaid Rent 6,270 6,270 15 N. Alvarado 6,690 6,690 19 Owner's Drawings 2.210 2.210 21 C. Werly 16,100 161 15,939 8,990 29.990 233 38,747 In addition, the following transactions have not been journalized for July. The cost of all merchandise sold was 65% of the sales price. July 1 The founder, N. Sandhill, invests $89,400 in cash 6 7 CD 8 Sell merchandise on account to Dow Co. $6,000 terms 1/10,n/30. Make cash sales totaling $8,000 Sell merchandise on account to S. Goebel $5,000, terms 1/10, 1/30. Sell merchandise on account to W. Leiss $4,500, terms 1/10,n/30. Receive payment in full from S. Goebel 10 13 16 Receive payment in full from W. Leiss. 20 21 Receive payment in full from Dow Co. Sell merchandise on account to H. Kenney $5,700, terms 1/10../30. Returned damaged goods to N. Alvarado and received cash refund of $480 29 Journalize the transactions that have not been journalized in the sales journal and the cash receipts journal. (Record entries in the order displayed in the problem statement.) Sales Journal S1 Date Account Debited Accounts Receivable Dr. Sales Revenue Cr. Ref. Cost of Goods Sold Dr. Inventory Cr. > (112)401) (505)(120) Cash Receipts Journal Date Account Credited Ref. Cash Dr. Accounts Receiv Cr. Sales Discounts Dr. V 301 C > 120 (101) (414) (112)