Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr. 21 3 (a) 3 (b) 4 Purchased $14,300 of merchandise on credit from Noth Company, terms 2/10, n/60. Sold merchandise on credit to Page Alistair, Invoice No. 760, for $4,000 (cost is $3,000). Purchased $1,480 of office supplies on credit from Custer, Inc. teres n/30. Issued Check No. 587 to World View for advertising expense of $899. Sold merchandise on credit to Paula Kohr, Invoice No. 761, for $8,000 (cost is $6,500). Returned $80 of office supplies purchased on April 3 to Custer, Inc. Wiset reduces accounts payable by that amount. Purchased $12, 125 of store equipment on credit from Hal's Supply, terms n/30. 5 6 9 Sold merchandise on credit to Nic Nelson, Invoice No. 762, for $10,500 (cost is $7,000). Issued Check No. 588 to Noth Company in payment of its April 2 purchase less the discount of $286. Received payment from Page Alistair for the April 3 sale less the discount of $80. Sold $5,100 of merchandise on credit to Page Alistair (cost is $3,600), Invoice No. 763.1 Received payment from Paula Kohr for the April 5 sale less the discount of $160. 11 12 13 (a) 13 (b) 14 16 (a) 16 (b) 17 18- 20 (a) 20 (b) 23 (a) 23 (b) 25 26 27 27 (a) (b) 30 (a) 30 (b) Issued Check No. 589 for $10,750, payee is Payroll, in payment of sales salaries expense for the first half of the month. Cash sales for the first half of the month are $52,840 (cost is $35,880). These cash sales are recorded in the cash receipts journal on April 16. Purchased $13, 750 of merchandise on credit from Grant Company, teres 2/10, n/30. Borrowed $60,000 cash from First State Bank by signing a long-term note payable. Received payment from Nic Nelson for the April 11 sale less the discount of $210. Purchased $830 of store supplies on credit from Hal's Supply, terms n/30. Returned $750 of defective merchandise purchased on April 17 to Grant Company, Wiset reduces accounts payable by that amount. Received payment from Page Alistair for the April 13 sale less the discount of $102. Purchased $11,375 of merchandise on credit from Noth Company, terms 2/10, n/68. Issued Check No. 590 to Grant Company in payment of its April 17 invoice less the return and the discount of $260. Sold $3,170 of merchandise on credit to Paula Kohr, Invoice No. 764 (cost is $2,520). Sold $6,700 of merchandise on credit to Nic Nelson, Invoice No. 765 (cost is $4,305). Issued Check No. 591 for $10,750, payee is Payroll, in payment of the sales salaries expense for the last half of the month. Cash sales for the last half of the month are $73,975 (cost is $58,900). These cash sales are recorded in the cash receipts journal on April 30. Assume that Wiset Co. uses the perpetual inventory system. Company that should be journalized in the purchases journal Required: 1-a. Enter the transaction of the Wiset Company that should be journalized in the purchases journal 1-b. Enter the transaction of the Wiset Company that should be journalized in the cash payments journal. 1-c. Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general journal. 2 & 3. Enter the March 31 balances of Cash ($85,000), Inventory ($125,000), Long-Term Notes Payable ($110,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the following general ledger accounts and in the accounts payable subsidiary ledger accounts for Hal's Supply, Noth Company, Grant Company and Custer, Inc. 4-a. Prepare a trial balance. 4-b. Prepare a schedule of accounts payable. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Req 2 and 3 Req 4A Req 48 Help Enter the March 31 balances of Cash ($85,000), Inventory ($125,000), Long-Term Notes Payable ($110,000), and B. Wiset, Capital ($100,000), Post the the journal in the following general ledger accounts and in the accounts payable subsidiary ledger accounts for Hal's Supply, Noth Company, Grant Compa Date GENERAL LEDGER Cash Inventory Debit Credit Balance Date Debit Creat Sulance 85,000 Mar. 31 298,863 Book GENERAL LEDGER Date Cash Debit Credit Balance Date Inventory Debit Credit Balance Mar. 31 Apr. 30 Cash Pay. Joum. 213,863 85,000 Mar. 31 298.863 Apr. 30 Purchases Joum. 49,153 249,710 Date Office Supplies Debit Credit Balance Date Store Supplies Debil Cred Balance erences Date Store Equipment Debit Credit Balance Dale Accounts Payable Debit Creat Date Mar. 311 B. Wiest, Capital Credit Balance Date Dubit Crudt Mar 311 Long-Term Notes Payable Debit Check my work Date Mar. 31 Date Date Long-Term Notes Payable Debit Check my work Credit Balance Date 8.Wast, Capta Debit Cred Balance Mar. 31 Sales Salaries Expense Debit Credit Balance Date Advertising Expense Deb Cred Balanse ACCOUNTS PAYABLE LEDGER Custer, Inc. Debit Credit Balance Dale Grant Company Debil Creat Hal's Supply Noth Compery Date Debit Credit Balance Date Debi Dudl < Reg 10 Prepare a trial balance. WISET COMPANY Trial Balance April 30 Totals Debit Credit Req 2 and 3 Reg> Req 1A Req 18 Req 1C Req 2 and 3 Req 4 Req 48 Prepare a schedule of accounts payable. WISET COMPANY Schedule of Accounts Payable April 30 Custer, Inc. Hal's Supply Noth Company Grant Company Total accounts payable. $ 0