UU View Policies Current Attempt in Progress Selected accounts from the chart of accounts of Ivanhoe Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable Question 1 of 1 - / 100 E The cost of all merchandise sold was 60% of the sales price. During January, Ivanhoe completed the following transactions Jan. 3 Purchased merchandise on account from Gallagher Co. $9.000. 4 Purchased supplies for cash $90. in 6 8 9 9 Sold merchandise on account to Wheeler $5,800 invoice no. 371, terms 1/10./30. Returned $200 worth of damaged goods purchased on account from Gallagher Co. on January 3, Made cash sales for the week totaling $3,380. Purchased merchandise on account from Phegley Co $5,800. Sold merchandise on account to Linton Corp. $6,700. Invoice no. 372. terms 1/10, 1/30, Purchased merchandise on account from Cora Co. $3,750. Paid in full Gallagher Co.on accountless a 2% discount Made cash sales for the week totaling $6,150. Received payment from Linton Corp. for invoice no. 372 11 13 13 15 Question 1 of 1 - / 100 15 Paid semi-monthly salaries of $14.700 to employees, 17 Received payment from Wheeler for invoice no. 371 17 19 20 Sold merchandise on account to Delaney Co. $2,420, invoice no. 373, terms 1/10,n/30. Purchased equipment on account from Dozier Corp. 55,750. Cash sales for the week totaled $3,320 Paid in full Phegley Co. on accountless a 2% discount Purchased merchandise on account from Gallagher Co. $7.740. 20 23 24 Purchased merchandise on account from Atchison Corp. $5,070 27 Made cash sales for the week totaling $4,650. 30 Received payment from Delaney Co. for invoice no 373 31 Paid semi-monthly salaries of $12.430 to employees. 31 Sold merchandise on account to Wheeler $9,890. Invoice no. 374. terms 1/10, 1/30. Question 1 of 1 - / 100 III Mercer Company uses the following journals. 1 2 3 Sales Journal Single-column purchases journal Cash receipts Journal Cash payments Journal General Journal 4. 5 Using the selected accounts provided: Record and Post the January transactions in the appropriate Journal noted. Foot and cross-foot all special journals (Record entries in the order displayed in the problem statement.) Question 1 of 1 - / 100 E Using the selected accounts provided Record and Post the January transactions in the appropriate journal noted. Foot and cross-foot all special journals. Record entries in the order played in the problem statement) Sales Journal S1 Accounts Receivable Dr. Sales Revenue Cr. Date Invoice No. Account Debited Ref. Cost of Goods Sold Dr. Inventory Cr. Chapter 7 Question 1 of 1 - / 100 E Se on 51 Accounts Receivable Dr. Sales Revenue Cr. Date Trivolo No. Account Debited Ref. Cost of Goods Sold Dr. Inventory Cr. (112401) (505X120) Question 1 of 1 -/1 Purchases Journal P1 Date Account Credited Ref. Inventory Dr. Accounts Payable Cr. 1 (120)(201) Credit account titles are automatically indented when amount is entered. Do not Indent manually. Record journal entries in the order presented in the problem.) General Journal Date Account Titles and Explanation Debit Credit Question 1 of 1 - / 100 cas Receipts Journal Date Account Credited Ref. Cash Dr. Sales Discounts Dr. Accounts > Question 1 of 1 - / 100 Accounts Receivable Cr. Sales Revenue Cr. Other Accounts Cr. Cost of Goods Sold Dr. Inventory Cr. Cash Payments Journal Date Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. 126 > 726 726 3 X ) (201) Cash Payments Journal ef. Other Accounts Dr. CP1 Accounts Payable Dr. Inventory Cr. Cash Cr. 26 26 2. (X) (201) (120) (101)