Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). April 2 Purchased $13,900 of merchandise on credit from Noth Company, terms 2/10, n/60. April 3 (a) Sold merchandise on credit to Page Alistair, Invoice Number 760, for $9.000 (cost is $8,000). April 3 (b) Purchased $1,480 of office supplies on credit from Custer, Incorporated, terms n/30. April 4 Issued Check Number 587 to World View for advertising expense of $913. April 5 Sold merchandise on credit to Paula Kohr, Invoice Number 761, for $17,000 (cost is $15,500). April 6 Returned $80 of office supplies purchased on April 3 to Custer, Incorporated. Wiset reduces accounts payable by that amount. April 9 Purchased $12,125 of store equipment on credit from Hal's Supply, terms n/30. April 11 Sold merchandise on credit to Nie Nelson, Invoice Number 762, for $21,200 (cost is $17,700). April 12 Issued Check Number 588 to Noth Company in payment of its April 2 purchase less the discount of $278. April 13 (a) Received payment from Page Alistair for the April 3 sale less the discount of $180. April 13 (b) Sold $9,500 of merchandise on credit to Page Alistair (cost is $8,000), Invoice Number 763. April 14 Received payment from Paula Kohr for the April 5 sale less the discount of $340. April 16 (a) Issued Check Number 589 for $11,050; payee is Payroll, in payment of sales salaries expense for the first half of the month. April 16 (b) Cash sales for the first half of the month are $51,940 (cost is $34,980). These cash sales are recorded in the cash receipts journal on April 16. April 17 Purchased $14,050 of merchandise on credit from Grant Company, terns 2/10, n/30. April 18 Borrowed $70,000 cash from First State Bank by signing a long-term note payable. April 20 (a) Received payment from Nie Nelson for the April 11 sale less the discount of $424. April 20 (b) Purchased $830 of store supplies on credit from Hal's Supply, terms n/30. April 23 (a) Returned $650 of defective merchandise purchased on April 17 to Grant Company. Wiset reduces accounts payable by that amount. April 23 (b) Received payment from Page Alistair for the April 13 sale less the discount of $190. April 25 Purchased $11, 475 of merchandise on credit from Noth Company, terms 2/10, n/60. April 26 Issued Check Number 590 to Grant Company in payment of its April 17 invoice less the return and the $268 discount. April 27 (a) Sold $4,340 of merchandise on credit to Paula Kohr, Invoice Number 764 (cost is $3,690) April 27 (b) Sold $14,000 of merchandise on credit to Nie Nelson, Invoice Number 765 (cost is $11,605). April 30 (a) Tosued check Number 591 for $11,050; payee is Payroll, in payment of the sales salaries expense for the last half of the month. Apr 30 (b) Cash sales for the last half of the month are $73,975 (cost is $58,900). These canh sales are recorded in the cash receipts Journal on April 30. 2. Required: 1-a. Enter the transactions of the Wiset Company that should be journalized in the sales journal. 1-b. Enter the transactions of the Wiset Company that should be journalized in the cash receipts journal. The terms of all credit sales are 2/10,n/30 2. Enter the March 31 balances for Cash ($74,000), Inventory ($186,000), Long-Term Notes Payable ($160,000). and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the respective general ledger accounts. 3. Enter the March 31 balances for Cash ($74,000), Inventory ($186,000). Long-Term Notes Payable ($160,000), and B. Wiset, Capital ($100.000). Post the total amounts from the journal in the respective accounts receivable subsidiary ledger accounts for Paula Kohr. Page Alistair, and Nic Nelson 4-a. Prepare a trial balance of the general ledger accounts. 4-b. Prepare a schedule of accounts receivable. Req 1A Req 1B Req 2 Req3 Req 4A Req 4B Enter the transactions of the Wiset Company that should be journalized in the sales journal. SALES JOURNAL Date Account Debited Invoice Number Accounts Receivable Debit Sales Credit Cost of Goods Sold Debit Inventory Credit tes April 30 Totals Ron 1 Req 18 > Enter the transactions of the Wiset Company that should be journalized in the cash receipts journal. The terms of all credit sales are 2/10, 1/30 Date Account Credited CASH RECEIPTS JOURNAL Sales Accounts Cash Debit Discount Receivable Debit Credit Sales Credit Other Accounts Credit Cost of Goods Sold Debit Inventory Credit April 30 Totals GENERAL LEDGER Canh Accounts Recolvable Debit Date Debit Credit Balance Date Credit Balance March 31 Inventory Debit Long-Term Notes Payable Debit Date Credit Balance Dato Credit Balance March 31 March 31 Sales B. Wiset, Capital Debit Credit Balance Date Dato Debit Balance Credit March 31 Sales Discounts Debit Cost of Goods Sold Debit Date Balance Credit Balance Credit Date Enter the March 31 balances for Cash ($74,000), Inventory ($186,000), Long-Term Notes Payable ($160,000), and B. Wiset, Capital ($100,000). Post the total journal in the respective accounts receivable subsidiary ledger accounts for Paula Kohr, Page Alistair, and Nic Nelson ACCOUNTS RECEIVABLE LEDGER Page Alistair Debit Dato Credit Paula Kohr Debit Balance Date Credit Balance Nic Nelson Debit Date Credit Balance Prepare a trial balance of the general ledger accounts. eBook WISET COMPANY Trial Balance April 30 Debit Credit Print o References Totals WISET COMPANY Schedule of Accounts Receivable rences April 30 Paula Kohr Nic Nelson Page Alistair Total accounts receivable