Using the below information provided prepare the entries to record the transactions. Check Figure: 4 Trail balance = $512, 256 It is October 16, 2020, and you have just taken over the accounting work for China Moon Products, whose annual accounting period ends October 31. The companys previous accountant journalized its transactions through October 15 and posted all items that required posting as individual amounts, as an examination of the journals and ledgers in the Working Papers will show. The company completed these transactions beginning October 16, 2020. Terms of all sales credit sales are 2/10, n/30

1. Record the transactions in the journals.
2. Post to the customer and creditor accounts and also post any amounts that should be posted as individual amounts to the general ledger accounts. Normally, these amounts are posted daily, but they are posted only once in this problem because they are few in numbers.
3. Foot and cross foot the journals and make the moth-end postings.
4. Prepare an October 31 trail balance and prepare schedules of accounts receivable and payable.

Oct. 16 Purchased office supplies on credit from Green Supply Company, $1,470. Invoice dated October 16, terms n/10 EOM. 16 Sold merchandise on credit to Heather Flatt, invoice \#916, \$9,100. Cost, \$5,270. 18 Issued a credit memo to Amy Izon for defective merchandise sold on October 15 and returned for credit, $400. The returned merchandise was scrapped. 19 Received a \$1,280 credit memo from Walters Company for merchandise received on October 15 and returned for credit. 20 Received a \$286 credit memo from Green Supply Company for office supplies received on October 16 and returned for credit. 20 Purchased store equipment on credit from Green Supply Company, invoice dated October 19, terms n/10 EOM, \$14,800. 21 Sold merchandise on credit to Jan Wildman, invoice \#917, \$10,900. Cost, \$6,320. 22 Received payment from Heather Flatt for the October 12 sale. 25 Received payment from Amy Izon for the October 15 sale. 25 Issued cheque \#623 to Walters Company in payment of its October 15 invoice. 25 Issued cheque \#624 to Sunshine Company in payment of its October 15 invoice. 28 Received merchandise with an invoice dated October 28, terms 2/10, n/60, from Sunshine Company, \$12,950. 28 Sold a neighbouring merchant a carton of calculator tape (store supplies) for cash at cost, $116. 29 Marlee Levin, the owner of China Moon Products, used cheque #625 to withdraw $8,000 cash from the business for personal use. 30 Issued cheque \#626 to Midwest Electric Company in payment of the October electric bill, \$1,240. 30 Issued cheque \#627 to Jamie Ford, the company's only sales employee, in payment of her salary for the last half of October, $3,260. 31 Cash sales for the last half of the month were $132,256. Cost, $76,700. Cash sales are usually recorded daily but are recorded only twice in this problem to reduce the repetitive transactions