Vaughn Company uses the perpetual method, a sales journal, a cash receipts journal, and a general journal to record transactions with its customers. The cost of all merchandise sold was 65% of the sales price. July 2 July 5 July 81 July 10 July 15 July 18 July 201 July 25 July 31 Sold merchandise for $20,300 to M. Jordan on account. Credit terms 1/10, n/30. Sales invoice No. 100. Received a check for $3,600 (no discount) from K. Bryant in payment of his account. Sold merchandise to S. O'Neal for $3,200 cash. Received a check in payment of Sales invoice No. 100 from M. Jordan less the 1% discount. Sold merchandise for $9,300 to K. Jabbar on account. Credit terms 1/10, n/30. Sales invoice No. 101. Borrowed $17,300 cash from Pacific Bank signing a 6-month, 10% note. Sold merchandise for $14,300 to J. West on account. Credit terms 1/10, n/30. Sales invoice No. 102. Issued a credit (reduction) of $3,060 to J. West as an allowance for damaged merchandise previously sold on account. Received a check from K. Jabbar for $7,800 as partial payment on account. Record the above transactions in the appropriate journals. (Record entries in the order displayed in the problem statement.) VAUGHN COMPANY Date Account Debited July 2 V M. Jordan July 15 K. Jabbar Sales Journal S1 Accounts Receivable Dr. Invoice No. Ref. Sales Revenue Cr. Cost of Goods Sold Dr. Inventory Cr. 100 20300 13195 101 9300 6045 July 20 J. West 102 14300 9295 (Record journal entries in the order presented in the problem. List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation July 25 v Sales Returns and Allowances Accounts Receivable (Do not leave any answer field blank. Enter O for amounts.) Date July 5 July 8 Account Credited Ref. Cash Dr. K. Bryant Accounts Receivable July 10 M. Jordan 1 July 18 V Notes Payable July 31 v K. Jabbar 3600 3200 Debit 3060 VAUGHN COMPANY Cash Receipts Journal Credit 3060 Sales Discounts Dr. Accounts Rec Cr