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counts Journalise trattati in special journals 27.4 (LO 2, 3) Selected accounts from the chart of accounts of Meng Enterprises are shown below 401 Sales Revenue 101 Cash 112 Accounts Receivable 120 Inventory 126 Supplies 157 Equipment 201 Accounts Payable 412 Sales Returns and Allowances 414 Sales Discounts 505 Cost of Goods Sold 726 Salaries and Wages Expense Scanned with CamScanner Problems 7-37 discount The cost of all merchandise sold was 60% of the sales price. During January. Meng completed the following transactions (amounts in thousands). Jan. 3 Purchased merchandise on account from Gum Co. 19.000. Purchased supplies for cash 780. Sold merchandise on account to Wei Y5.250. invoice no. 371, terms 1/10, 1/30. 5 Returned 300 worth of damaged goods purchased on account from Gum Co. on January 3 6 Made cash sales for the week totaling 13.150. 8 Purchased merchandise on account from Pang Co. 44.500.0 Sold merchandise on account to It to Loeng Corp. 45,400, invoice no. 372, terms 1/10, 1/30. Purchased merchandise on account from Che Co. 13.700. Made cash sales for the week totaling V6,260. Paid semi-monthly salaries of V14.300 to employees. Corp. for invoice no. 372. Received payment from Wei for invoice no. 371. Sold merchandise on account to Dyun Co. VI.200. invoice no. 373. terms 1/10, 1/30, Purchased equipment on account from Ziu Corp. 45.500, Cash sales for the week totaled 3,200. Paid in full Pang Co. on account less a 2% discount. merchandise on account from Gum Co. 17.800, Purchased merchandise on account from Yap Corp. V5.100 Made cash sales for the week totaling 14.230. 30 Received payment from Dyun Co. for invoice no. 373. 31 Paid semi-monthly salaries of V13,200 to employees. 31 Sold merchandise on account to Wei 19.330, invoice no. 374. terms 1/10, 30 Meng uses the following journals, noun 1. Sales journal 2. Single-column purchases journal. Alors 3. Cash receipts journal with columns for Cash Dr., Sales Discounts Dr. Accounts Receivable Cr.. Sales Revenue Cr., Other Accounts Cr, and Cost of Goods Sold Dr./Inventory Cr. 4. Cash payments journal with columns for Other Accounts Dr., Accounts Payable Dr.. Inventory Cr. and Cash Cr. 5. General journal. 102 11 13 13 15 15 17 17 19 " 20 20 23 Purchased 24 27 Instructions et bestod adol Using the selected accounts provided: a. Record the January transactions in the appropriate journal noted. b. Foot and cross-foot all special journals. c. Show how postings would be made by placing ledger account numbers and checkmarks as needed in the journals. (Actual posting to ledger accounts is not required.) a. Sales journal 21,180 Purchases journal 30,100 Cash receipts journal balancing total 38,794 Cash payments journal balancing total 40,780