Problem 9.3A (Algo) Journalizing sales and cash receipts and posting to the general ledger. LO 9-1, 9-2, 9-3 Awesome Sounds is a wholesale business that sells musical instruments. Transactions involving sales and cash receipts for the firm during April 20x1 follow, along with the general ledger accounts used to record these transactions. GENERAL LEDGER ACCOUNTS $17,100 Dr. 101 Cash 109 Notes receivable 111 Accounts receivable 401 Sales 451 Sales returns and allowances 452 Sales discounts 21,700 Dr. | DATE TRANSACTIONS April 1 Sold merchandise for $4,600 to Soprano Music Center; issued Invoice 9312 with terms of 2/10, n/30. 3 Received a check for $1,813 from Music Supply Store in payment of Invoice 6718 of March 25 ($1,850), less a cash discount ($37). 5 Sold merchandise for $1,750 in cash to a new customer who has not yet established credit. 8 Sold merchandise for $5,200 to Music Warehouse; issued Invoice 9313 with terms of 2/10, n/30. 10 Soprano Music Center sent a check for $4,508 in payment of Invoice 9312 of April 1 ($4,600), less a cash discount ($92). 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 105 for $870; the original sale was made on Invoice 9313 of April 8. 19 Sold merchandise for $11,200 to Eagleton Music Center; issued Invoice 9314 with terms of 2/10, n/30. 23 Collected $3,150 from Sounds From Yesterday for Invoice 6725 of March 25. 26 Accepted a two-month promissory note for $6,200 from Country Music Store in settlement of its overdue account; the note has an interest rate of 10 percent. 28 Received a check for $10,976 from Eagleton Music Center in payment of Invoice 9314, dated April 19 ($11,200), less a cash discount ($224). 30 Sold merchandise for $10,500 to Contemporary Sounds, Inc.; issued Invoice 9315 with terms of 2/10, n/30. Required: 1. Open the general ledger accounts and enter the balances as of April 1, 20X1. 2. Record the transactions in a sales Journal, a cash receipts journal, and a general Journal. 3. Post the entries from the general Journal to the general ledger. 4. Post the column totals from the special journals to the proper general ledger accounts. 5. Prepare the heading and the Revenue section of the firm's income statement for the month ended April 30. Analyze: What total sales on account were made in the month of April prior to any returns or allowances? Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Post the opening balances and transactions into the appropriate ledger accounts. Cash Account No: 101 Credit Balance Notes Receivable Date Debit Account No: 109 Credit Balance Debit Date Apr 01, 20X1 Sales Accounts Receivable Date Debit Apr 01, 2019 Account No: 111 Credit Balance Account No: 401 Credit Balance Date Debit Account No: 451 Sales Returns and Allowances Date Debit Sales Discounts Date Debit Account No: 452 Credit Balance Credit Balance Analyze: What total sales on account were made in the month of April prior to any returns or allowances? Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Record the transactions in a sales journal as of April 20x1. SALES JOURNAL Accounts Date Invoice No. Customer's Name receivable Dr./Sales Cr. Apr 30, 20X1 Total $ 0 Analyze: What total sales on account were made in the month of April prior to any returns or allowances? Complete this question by entering your answers in the tabs below. General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Record the transactions in a cash receipts journal as of April 20x1. CASH RECEIPTS JOURNAL Other Accounts Credit Date Description Accounts Receivable Credit Sales Credit Sales Discount Debit Cash Debit Account Name Amount Apr 30, 2019 Totals $ 0 $ 0 $ 0 $ 0 Sales Journal General Journal > General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Record the transactions in a general journal as of April 20x1. View transaction list Journal entry worksheet 1 2 > Record the return of damaged merchandise, Credit Memo 105, sale originally made on Invoice 9313 from April 8. Note: Enter debits before credits. General Journal Debit Credit Date Apr 15, 20X1 Record entry Clear entry View general journal General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyze Record the transactions in a general journal as of April 20x1. View transaction list Journal entry worksheet General Ledgers Sales Journal Cash Receipts General Journal Income Statement Analyzle What total sales on account were made in the month of April prior to any returns or allowances? Total sales on account prior to returns or allowances