Carla Vista 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 ledger for Carla Vista are indicated in the working papers. Presented below are a series of transactions for Carla Vista 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. GENERAL LEDGER January 1 Opening Balance Account Number Account Title 101 Cash $33,000 112 Accounts Receivable 13,500 115 Notes Receivable 42,000 120 Inventory 16,000 126 Supplies 1,400 130 Prepaid Insurance 2,100 157 Equipment 6,000 158 Accumulated Depreciation-Equip. 1,500 201 Accounts Payable 27,500 301 Owner's Capital 85,000 Schedule of Accounts Receivable (from accounts receivable subsidiary ledger) January 1 Opening Balance Customer R. Beltre $1,800 B. Santos 7,600 S. Mahay 4,100 Schedule of Accounts Payable (from accounts payable subsidiary ledger) January 1 Opening Balance Customer S. Meek $7,500 R. Moses 12,000 D. Saito 8,000 Record the January transactions in a two-column general journal. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record jour the problem.) Date Account Titles and Explanation Debit Credit (Issued credit for merchandise returned.) (Cost of merchandise returned.) (Received credit for returned goods.) (Payment of balance due.) LINK TO TEXT LINK TO TEXT Post the journals to the general ledger. (Post entries in the order of Journal entry presented in the previous parts.) General Ledger Cash No. 101 Date Explanation Ref. Debit Credit Balance D. Saito Part 8 ncept of ls to ta) Eydle - al-f2 8,000 Jan. 3 Sell merchandise on account to B. Corpas $3,700, invoice no. 510, and to J. Revere $1,900, invoice no. 511. Purchase merchandise from S. Gamel $6,000 and D. Posey $3,000, terms n/30. 7 Receive checks from S. Mahay $4,100 and B. Santos $2,000 after discount period has lapsed. 8 Pay freight on merchandise purchased $220. Send checks to S. Meek for $7,500 less 2% cash discount, and to D. Saito for $8,000 less 1% cash discount. ts by Study Issue credit of $300 to J. Revere for merchandise returned. 10 Daily cash sales from January 1 to January 10 total $14,000. Make one journal entry for these sales. 11 Sell merchandise on account to R. Beltre $1,400, invoice no. 512, and to S. Mahay $900, invoice no. 513. 12 Pay rent of $1,600 for January. 13 Receive payment in full from B. Corpas and J. Revere less cash discounts. 15 Withdraw $800 cash by M. Carla Vista for personal use. 15 Post all entries to the subsidiary ledgers. 16 Purchase merchandise from D. Saito $16,000, terms 1/10, n/30; S. Meek $14,600, terms 2/10, n/30; and S. Gamel $1,900, terms n/30. 17 Pay $700 cash for office supplies. 18 Return $300 of merchandise to S. Meek and receive credit. 20 Daily cash sales from January 11 to January 20 total $18,600. Make one journal entry for these sales. 21 Issue $12,000 note, maturing in 90 days, to R. Moses in payment of balance due. 21 Receive payment in full from S. Mahay less cash discount. 22 Sell merchandise on account to B. Corpas $2,900, invoice no. 514, and to R. Beltre $2,500, invoice no. 515. 22 Post all entries to the subsidiary ledgers. Send checks to D. Saito and S. Meek in full payment less cash discounts. Sell merchandise on account to B. Santos $3,800, invoice no. 516, and to J. Revere $6,900, invoice no. 517. Purchase merchandise from D. Saito $15,000, terms 1/10, n/30; D. Posey $3,400, terms n/30; and S. Gamel $5,800, terms n/30. Post all entries to the subsidiary ledgers. 23 25 27 27 28 Pay $200 cash for office supplies. 31 Daily cash sales from January 21 to January 31 total $22,800. Make one journal entry for these sales. 31 Pay sales salaries $4,700 and office salaries $3,200. Record the January transactions in a sales journal. (Post entries in the order presented in the problem statement.) Sales Journal s1 Account Receivable Dr. Sales Revenue Cr. Cost of Good Sold Dr. Inventory Cr. Date Account Debited Invoice No. Ref. Sales Journal S1 Account Receivable Dr. Sales Revenue Cr. Cost of Good Sold Dr. Date Account Debited Invoice No. Ref. Inventory Cr. LINK TO TEXT LINK TO TEXT Record the January transactions in a single-column purchases journal. (Post entries in the order presented in the problem statement.) Purchases Journal P1 Inventory Dr. Accounts Payable Cr. Date Account Credited Terms Ref. n/30 n/30 1/10, n/30 2/10, n/30 n/30 1/10, n/30 n/30 n/30 Activate Windows LINK TO TEXT LINK TO TEXT Go to Settings to activate Windews, .docx EffectivePersuasi.docx CM220M1_Readin.pdf O ACCOUNTINGCY.pptx Show all 3:46 PM to search 5/2/2021 Cash Receipts Journal CR1 Sales Sales Other Date Cash Discounts Revenue Accounts Cost of Good Sold Dr. Account Credited Account Receivable Cr. Cr. Ref. Dr. Dr. Cr. Inventory Cr. LINK TO TEXT LINK TO TEXT Record the January transactions in a cash payments journal. (Post entries in the order presented in the problem statement.) Cash Payments Journal CP1 Other Accounts Accounts Payable Supplies Inventory Cr. Cash Date Account Debited Ref. Dr. Dr. Dr. Cr. 120 729 306 627 LINK TO TEXT LINK TO TEXT Record the January transactions in a two-column general journal. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Activate Windows Go to Settings to activate Windows. asi...docx W EffectivePersuasi.docx CM220M1_Readin.pdf e ACCOUNTINGCY.pptx Show all 3:46 PM ere to search 5/2/2021 > > > > >