Sunland Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger. Balances related to both the general ledger and the subsidiary ledgers for Sunland are indicated in the working papers presented below. Also following are a series of transactions for Sunland Co. for the month of January. Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 60% of the sales price. Jan. 3. Sell merchandise on account to B. Corpas $3,700, imvoice no. 510 , and to J. Revere $1,500, invoice no, 511. 5 Purchase merchandise from $ Gamei $5,000 and D. Posey $2,500, terms n/30 7 Recelve checks from $. Mahay $4,100 and B, Santos $2,000 after discount period nas lapsed. 8 Pay freightonmerchandise purchased $230 9 Send checks to S. Meek for \$8,500less 2\% cash disconnt and to D.5alo for $10.000 less 1 Keash discount. 9 Issue credit of $300 to J. Revere for merchandise returned. 10 Daily cash sales from January 1 to January 10 totat \$15,500. Make one journal entry for these sales. 11 Sell merchandise on account to R. Beltre $1.200, invoice no. 512 , and to 5. Mahyy $900, invoice no. 513. 12 Pay rent of $1,400 for danuary. 13. Receive payment in full from B. Corpas and J. Revere less cash discounts. 15 Withdraw 5800 cash by M. Suniand for personal use. 15 Post all entries to the subsidiary lediters 16. Purchase merchandise from D.Saito $15,000, terms 1/10, n/30:5, Meek $14,600, terms 2/10, n/s0, and 5, Gamel 51,500,termsn/30, 17 Par 5800 cash for office supplies. 18. Return $400 of merchandise to s. Meekand receive credit. 20 Daily cash sales from January 11 to January 20 total 20200 Make ove journal entry for these saleh 21. Issue $17,000 note, maturing in 90 dars, to R. Moses in payment of balance due 21 Issue $17.000 note, maturing in 90 days, to R. Moses in payment of balance due. 21 Receivepayment in full from S. Mahay less cash discount. 22. Sell merchandise on account to B. Corpas $2,700, irvoice no. 514 , and to R. Beltre $2,100, invoice no. 515 . 22. Post all entries to the subsidiary ledgers. 23 Send checks to D. Saito and S. Meek for full payment less cash discounts. 27. Purchase merchandise from D. Saito $14,100, terms 1/10,n/30;D. Posey $3,500, terms n/30, and $,G mel $5,100, terms n/30. 27. Post alt entries to the subsidiary ledgers: 28. Pay $200 cash for otfice supplies. 31. Dally cash sales from January 21 to January 31 total $23,100. Make one joumal entry for these sales. 31. Pay sales salaries $4,400 and otfice salaries $3,000 Record the January transactions in a cash payments journat. (Post entries in the order presented in the problem statement. Select "Not Applicoble" in Account Debited column, If no customer is selected) tan12 729 san15x 306 [3enc17 x san23 san23 tani2 20 dan31 627 Accounts Payable Dr. Supplies: Dr. Imventory Cr. Cash Cr. Record the January transactions in a two-column general journal. (Credit account tites are automatically indented when the amount is entered. Do not indent manually. Record joumal entries in the order presented in the problem. Ust all debit entries before credit entries) (Cost of merchandise returned.) (Received credit for retumed goods.) (Payment of balance due.) Post the journals to the general ledger. (Post entrles in the order of Journal entrypresented in the previous parts). Generalledger 51 is Recelvable Date Explanatio Balance Ref. Debit Credit Balance Date Explanation Ref. Debit Credit Balance Batance CPI GI Balance Accounts Payable Owner's Drawings CR1 Cost of Goods Sold Date Explanation Ref. Debit Credit Balr G1 51 CR1 Salaries and Wages Expense Date Explanation Ref. Debit Credit Bali: CP1 Rent Expense Explanation Ref. Debit Credit Bat Accounts Recelvable Subsidiary Ledger Accounts Payable Subsidiary ledzer D. Salto Sunland Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger. Balances related to both the general ledger and the subsidiary ledgers for Sunland are indicated in the working papers presented below. Also following are a series of transactions for Sunland Co. for the month of January. Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 60% of the sales price. Jan. 3. Sell merchandise on account to B. Corpas $3,700, imvoice no. 510 , and to J. Revere $1,500, invoice no, 511. 5 Purchase merchandise from $ Gamei $5,000 and D. Posey $2,500, terms n/30 7 Recelve checks from $. Mahay $4,100 and B, Santos $2,000 after discount period nas lapsed. 8 Pay freightonmerchandise purchased $230 9 Send checks to S. Meek for \$8,500less 2\% cash disconnt and to D.5alo for $10.000 less 1 Keash discount. 9 Issue credit of $300 to J. Revere for merchandise returned. 10 Daily cash sales from January 1 to January 10 totat \$15,500. Make one journal entry for these sales. 11 Sell merchandise on account to R. Beltre $1.200, invoice no. 512 , and to 5. Mahyy $900, invoice no. 513. 12 Pay rent of $1,400 for danuary. 13. Receive payment in full from B. Corpas and J. Revere less cash discounts. 15 Withdraw 5800 cash by M. Suniand for personal use. 15 Post all entries to the subsidiary lediters 16. Purchase merchandise from D.Saito $15,000, terms 1/10, n/30:5, Meek $14,600, terms 2/10, n/s0, and 5, Gamel 51,500,termsn/30, 17 Par 5800 cash for office supplies. 18. Return $400 of merchandise to s. Meekand receive credit. 20 Daily cash sales from January 11 to January 20 total 20200 Make ove journal entry for these saleh 21. Issue $17,000 note, maturing in 90 dars, to R. Moses in payment of balance due 21 Issue $17.000 note, maturing in 90 days, to R. Moses in payment of balance due. 21 Receivepayment in full from S. Mahay less cash discount. 22. Sell merchandise on account to B. Corpas $2,700, irvoice no. 514 , and to R. Beltre $2,100, invoice no. 515 . 22. Post all entries to the subsidiary ledgers. 23 Send checks to D. Saito and S. Meek for full payment less cash discounts. 27. Purchase merchandise from D. Saito $14,100, terms 1/10,n/30;D. Posey $3,500, terms n/30, and $,G mel $5,100, terms n/30. 27. Post alt entries to the subsidiary ledgers: 28. Pay $200 cash for otfice supplies. 31. Dally cash sales from January 21 to January 31 total $23,100. Make one joumal entry for these sales. 31. Pay sales salaries $4,400 and otfice salaries $3,000 Record the January transactions in a cash payments journat. (Post entries in the order presented in the problem statement. Select "Not Applicoble" in Account Debited column, If no customer is selected) tan12 729 san15x 306 [3enc17 x san23 san23 tani2 20 dan31 627 Accounts Payable Dr. Supplies: Dr. Imventory Cr. Cash Cr. Record the January transactions in a two-column general journal. (Credit account tites are automatically indented when the amount is entered. Do not indent manually. Record joumal entries in the order presented in the problem. Ust all debit entries before credit entries) (Cost of merchandise returned.) (Received credit for retumed goods.) (Payment of balance due.) Post the journals to the general ledger. (Post entrles in the order of Journal entrypresented in the previous parts). Generalledger 51 is Recelvable Date Explanatio Balance Ref. Debit Credit Balance Date Explanation Ref. Debit Credit Balance Batance CPI GI Balance Accounts Payable Owner's Drawings CR1 Cost of Goods Sold Date Explanation Ref. Debit Credit Balr G1 51 CR1 Salaries and Wages Expense Date Explanation Ref. Debit Credit Bali: CP1 Rent Expense Explanation Ref. Debit Credit Bat Accounts Recelvable Subsidiary Ledger Accounts Payable Subsidiary ledzer D. Salto