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[ The following information applies to the questions displayed below. ] Wiset Company completes these transactions during April of the current year ( the terms
The following information applies to the questions displayed below.
Wiset Company completes these transactions during April of the current year the terms of all its credit sales are n
April Purchased $ of merchandise on credit from Noth Company, terms nApril aSold merchandise on credit to Page Alistair, Invoice Number for $cost is $April bPurchased $ of office supplies on credit from Custer, Incorporated, terms nApril Issued Check Number to World View for advertising expense of $April Sold merchandise on credit to Paula Kohr, Invoice Number for $cost is $April Returned $ of office supplies purchased on April to Custer, Incorporated. Wiset reduces accounts payable by that amount.April Purchased $ of store equipment on credit from Hals Supply, terms nApril Sold merchandise on credit to Nic Nelson, Invoice Number for $cost is $April Issued Check Number to Noth Company in payment of its April purchase less the discount of $April aReceived payment from Page Alistair for the April sale less the discount of $April bSold $ of merchandise on credit to Page Alistair cost is $ Invoice Number April Received payment from Paula Kohr for the April sale less the discount of $April aIssued Check Number for $; payee is Payroll, in payment of sales salaries expense for the first half of the month.April bCash sales for the first half of the month are $cost is $ These cash sales are recorded in the cash receipts journal on April April Purchased $ of merchandise on credit from Grant Company, terms nApril Borrowed $ cash from First State Bank by signing a longterm note payable.April aReceived payment from Nic Nelson for the April sale less the discount of $April bPurchased $ of store supplies on credit from Hals Supply, terms nApril aReturned $ of defective merchandise purchased on April to Grant Company. Wiset reduces accounts payable by that amount.April bReceived payment from Page Alistair for the April sale less the discount of $April Purchased $ of merchandise on credit from Noth Company, terms nApril Issued Check Number to Grant Company in payment of its April invoice less the return and the $ discount.April aSold $ of merchandise on credit to Paula Kohr, Invoice Number cost is $April bSold $ of merchandise on credit to Nic Nelson, Invoice Number cost is $April aIssued Check Number for $; payee is Payroll, in payment of the sales salaries expense for the last half of the month.April bCash sales for the last half of the month are $cost is $ These cash sales are recorded in the cash receipts journal on April
Required:
aEnter the transactions of the Wiset Company that should be journalized in the sales journal.
bEnter the transactions of the Wiset Company that should be journalized in the cash receipts journal. The terms of all credit sales are n
Enter the March balances for Cash $ Inventory $ LongTerm Notes Payable $ and B Wiset, Capital $ Post the total amounts from the journal in the respective general ledger accounts.
Enter the March balances for Cash $ Inventory $ LongTerm Notes Payable $ and B Wiset, Capital $ Post the total amounts from the journal in the respective accounts receivable subsidiary ledger accounts for Paula Kohr, Page Alistair, and Nic Nelson.
aPrepare a trial balance of the general ledger accounts.
bPrepare a schedule of accounts receivable.
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