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 $$8,000($cost is $$7,000).$

April $3($b$)$ Purchased $$1,490$ of office supplies on credit from Custer, Incorporated, terms n$/30.$

April $4$ Issued Check Number $587$ to World View for advertising expense of $$886.$

April $5$ Sold merchandise on credit to Paula Kohr, Invoice Number $761,$ for $$16,000($cost is $$14,500).$

April $6$ Returned $$90$ of office supplies purchased on April $3$ to Custer, Incorporated. Wiset reduces accounts payable by that amount.

April $9$ Purchased $$12,025$ of store equipment on credit from Hal$$s Supply, terms n$/30.$

April $11$ Sold merchandise on credit to Nic Nelson, Invoice Number $762,$ for $$20,600($cost is $$17,100).$

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 $$160.$

April $13($b$)$ Sold $$8,800$ of merchandise on credit to Page Alistair $($cost is $$7,300),$ Invoice Number $763.$

April $14$ Received payment from Paula Kohr for the April $5$ sale less the discount of $$320.$

April $16($a$)$ Issued Check Number $589$ for $$10,450$; 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 $$52,140($cost is $$35,180).$ These cash sales are recorded in the cash receipts journal on April $16.$

April $17$ Purchased $$14,450$ of merchandise on credit from Grant Company, terms $2/10,$ n$/30.$

April $18$ Borrowed $$60,000$ cash from First State Bank by signing a long$-$term note payable.

April $20($a$)$ Received payment from Nic Nelson for the April $11$ sale less the discount of $$412.$

April $20($b$)$ Purchased $$930$ of store supplies on credit from Hal$$s Supply, terms n$/30.$

April $23($a$)$ Returned $$850$ 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 $$176.$

April $25$ Purchased $$11,875$ 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 $$272$ 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 $$11,800$ of merchandise on credit to Nic Nelson, Invoice Number $765($cost is $$9,405).$

April $30($a$)$ Issued Check Number $591$ for $$10,450$; payee is Payroll, in payment of the sales salaries expense for the last half of the month.

April $30($b$)$ 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 $30.$

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 $($$$75,000),$ Inventory $($$$190,000),$ Long$-$Term Notes Payable $($$$165,000),$ and B$.$ Wiset, Capital $($$$100,000).$ Post the total amounts from the journal in the respective general ledger accounts.

$3.$ Enter the March $31$ balances for Cash $($$$75,000),$ Inventory $($$$190,000),$ Long$-$Term Notes Payable $($$$165,000),$ and B$.$ Wiset, Capital $($$$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.