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The following transactions occurred for Peaker's Sneaker Shop of Dartmouth. The cost of goods sold for all merchandise is 7 5 % of the sale

The following transactions occurred for Peaker's Sneaker Shop of Dartmouth. The cost of goods sold for all merchandise is 75% of the sale price. This 75% also applies to inventory items returned.
2021
May 1 Mark Peaker invested an additional $14,000 in the sneaker store.
3 Sold $2,000 worth of merchandise on account to B. Dale, sales invoice No.60, terms 110,n30.
4 Sold $900 worth of merchandise on account to Ron Lester, sales invoice No.61, terms 110,n30.
8 Sold $600 worth of merchandise on account to Jim Zon, sales invoice No.62, terms 1/10,n30.
11 Received cash from B. Dale in payment of May 3 transaction, sales invoice No.60, less discount.
18 Sold $4,000 worth of merchandise on account to Pam Pry, sales invoice No.63, terms 110,n30.
21 Received cash payment from Ron Lester in payment of May 4 transaction, sales invoice No.61.
22 Collected cash sales, $6,000.
25 Issued credit memorandum No.1 to Pam Pry for $500 worth of defective merchandise from May 18 sale. The merchandise was not returned to inventory.
25 Received cash from Pam Pry in payment of May 18 sales invoice No.63.(credit memo and discount.)
28 Collected cash sales, $12,000
28 Sold sneaker rack equipment for $200 cash. (Beware.)
29 Sold $6,000 worth of merchandise on account to Ron Lester, sales invoice No.64, terms 110,n30.
31 Issued credit memorandum No.32 to Ron Lester for $800 as a sales allowance for incorrect colour from May 29 transaction, sales invoice No.64.
Required
a. Journalize the transactions in the appropriate journals.
b. Record and post as appropriate.
c. Prepare a schedule of accounts receivable as of May 31.
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