Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr. 2 Purchased $14,700 of merchandise on credit from Noth Company, terms 2/10, n/60. 3 (a) Sold merchandise on credit to Page Alistair, Invoice No. 760, for $5,200 (cost is $2,700). 3 (b) Purchased $1,530 of office supplies on credit from Custer, Inc. terms n/30. 4 Issued Check No. 587 to World View for advertising expense of $886. 5 Sold merchandise on credit to Paula Kohr, Invoice No. 761, for $8,300 (cost is $6,600). 6 Returned $65 of office supplies purchased on April 3 to Custer, Inc. Wiset reduces accounts payable by that amount. 9 Purchased $12,045 of store equipment on credit from Hal's Supply, terms n/30. 11 Sold merchandise on credit to Nic Nelson, Invoice No. 762, for $11,600 (cost is $7,800). 12 Issued Check No. 588 to Noth Company in payment of its April 2 purchase less the discount of $294. 13 (a) Received payment from Page Alistair for the April 3 sale less the discount of $104. 13 (b) Sold $11,900 of merchandise on credit to Page Alistair (cost is $4,100), Invoice No. 763. 14 Received payment from Paula Kohr for the April 5 sale less the discount of $166. 16 (a) Issued Check No. 589 for $10,150, payee is Payroll, in payment of sales salaries expense for the first half of the month. 16 (b) Cash sales for the first half of the month are $54,780 (cost is $42, 600). These cash sales are recorded in the cash receipts journal on April 16. 17 Purchased $11,500 of merchandise on credit from Grant Company, terns 2/10, n/30. 18 Borrowed $68,000 cash from First State Bank by signing a long-term note payable. 20 (a) Received payment from Nic Nelson for the April 11 sale less the discount of $232. 20 (b) Purchased $1,160 of store supplies on credit from Hal's Supply, terms n/30. 23 (a) Returned $800 of defective merchandise purchased on April 17 to Grant Company. Wiset reduces accounts payable by that amount. 23 (b) Received payment from Page Alistair for the April 13 sale less the discount of $ 25 Purchased $11,670 of merchandise on credit from Noth Company, terms 2/10, n/60. 26 Issued Check No. 590 to Grant Company in payment of its April 17 invoice less the return and the $214 discount. 27 (a) Sold $3,110 of merchandise on credit to Paula Kohr, Invoice No. 764 (cost is $2,790). 27 (b) Sold $8,500 of merchandise on credit to Nic Nelson, Invoice No. 765 (cost is $4,560). 30 (a) Issued Check No. 591 for $10,150, payee is Payroll, in payment of the sales salaries expense for the last half of the month. 30 (b) Cash sales for the last halt of the month are $71,400 (cost is $62,600). These cash sales are recorded in the cash receipts journal on April 30. Assume that Wiset Co. uses the perpetual inventory system. 2. 2&3. Enter the March 31 balances for Cash ($89.000). Inventory (S155,000). Long-Term Notes Payable ($144,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the following general ledger accounts and in the accounts receivable subsidiary ledger accounts for Paula Koht Page Allstat, and Nic Nelson GENERAL LEOCER Cach Debit Dale Credit Accounts Receivable Dobit Credit Mar. 31 Balance Balance Date 30.000 Ar 30(a) Sales Joum 89.005 55 Ar. 23 Dit Debet Credit LongTerm Notes Payable Dobit Credit Mar 31 Mar 31 800 300 10000 (1.600) Sales Credit Balance 11 Date Help Save & Exit Si Required information Sales Discounts Date Debit Credit Balance Cost of Goods Sold Debit Date Credit Balance ACCOUNTS RECEIVABLE LEDGER Pago Allstar Dobit Credit Paula Kohe Dato Balance Date Debit Credit Apr 05 Balance Apr 05 Apr 27 (a) Apr 30 () Sales Jour Apr 13 () Apr 23 (6) Nie Nelson Debit Credit Balance Date Papr. 11 Pace. 27 (6) Apr 30 (6) Sales Jour (Apr. 20 (a) Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr. 2 Purchased $14,700 of merchandise on credit from Noth Company, terms 2/10, n/60. 3 (a) Sold merchandise on credit to Page Alistair, Invoice No. 760, for $5,200 (cost is $2,700). 3 (b) Purchased $1,530 of office supplies on credit from Custer, Inc. terms n/30. 4 Issued Check No. 587 to World View for advertising expense of $886. 5 Sold merchandise on credit to Paula Kohr, Invoice No. 761, for $8,300 (cost is $6,600). 6 Returned $65 of office supplies purchased on April 3 to Custer, Inc. Wiset reduces accounts payable by that amount. 9 Purchased $12,045 of store equipment on credit from Hal's Supply, terms n/30. 11 Sold merchandise on credit to Nic Nelson, Invoice No. 762, for $11,600 (cost is $7,800). 12 Issued Check No. 588 to Noth Company in payment of its April 2 purchase less the discount of $294. 13 (a) Received payment from Page Alistair for the April 3 sale less the discount of $104. 13 (b) Sold $11,900 of merchandise on credit to Page Alistair (cost is $4,100), Invoice No. 763. 14 Received payment from Paula Kohr for the April 5 sale less the discount of $166. 16 (a) Issued Check No. 589 for $10,150, payee is Payroll, in payment of sales salaries expense for the first half of the month. 16 (b) Cash sales for the first half of the month are $54,780 (cost is $42, 600). These cash sales are recorded in the cash receipts journal on April 16. 17 Purchased $11,500 of merchandise on credit from Grant Company, terns 2/10, n/30. 18 Borrowed $68,000 cash from First State Bank by signing a long-term note payable. 20 (a) Received payment from Nic Nelson for the April 11 sale less the discount of $232. 20 (b) Purchased $1,160 of store supplies on credit from Hal's Supply, terms n/30. 23 (a) Returned $800 of defective merchandise purchased on April 17 to Grant Company. Wiset reduces accounts payable by that amount. 23 (b) Received payment from Page Alistair for the April 13 sale less the discount of $ 25 Purchased $11,670 of merchandise on credit from Noth Company, terms 2/10, n/60. 26 Issued Check No. 590 to Grant Company in payment of its April 17 invoice less the return and the $214 discount. 27 (a) Sold $3,110 of merchandise on credit to Paula Kohr, Invoice No. 764 (cost is $2,790). 27 (b) Sold $8,500 of merchandise on credit to Nic Nelson, Invoice No. 765 (cost is $4,560). 30 (a) Issued Check No. 591 for $10,150, payee is Payroll, in payment of the sales salaries expense for the last half of the month. 30 (b) Cash sales for the last halt of the month are $71,400 (cost is $62,600). These cash sales are recorded in the cash receipts journal on April 30. Assume that Wiset Co. uses the perpetual inventory system. 2. 2&3. Enter the March 31 balances for Cash ($89.000). Inventory (S155,000). Long-Term Notes Payable ($144,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the following general ledger accounts and in the accounts receivable subsidiary ledger accounts for Paula Koht Page Allstat, and Nic Nelson GENERAL LEOCER Cach Debit Dale Credit Accounts Receivable Dobit Credit Mar. 31 Balance Balance Date 30.000 Ar 30(a) Sales Joum 89.005 55 Ar. 23 Dit Debet Credit LongTerm Notes Payable Dobit Credit Mar 31 Mar 31 800 300 10000 (1.600) Sales Credit Balance 11 Date Help Save & Exit Si Required information Sales Discounts Date Debit Credit Balance Cost of Goods Sold Debit Date Credit Balance ACCOUNTS RECEIVABLE LEDGER Pago Allstar Dobit Credit Paula Kohe Dato Balance Date Debit Credit Apr 05 Balance Apr 05 Apr 27 (a) Apr 30 () Sales Jour Apr 13 () Apr 23 (6) Nie Nelson Debit Credit Balance Date Papr. 11 Pace. 27 (6) Apr 30 (6) Sales Jour (Apr. 20 (a)