www.np jurnali accounts 74 (LO 2, 3) Selected accounts from the churt of Accounts of Meng Enterprises are shown below 101 Cash 101 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies Sos Cost of Goods Sold 157 Equipment 726 Salaries and Wipes Expense 201 Accounts Payable Scanned with CamScanner Problems 7-37 The cost of all merchandise sold was 60% of the sales price. During Samuey, Meny completed the following transactions amounts in thousands) Jan. Purchased merchandise account from Gum Ca. 19,000 4 Purchased supplies for cash 180 Sold merchandise o account to Wel V5.250, invece no. 371, em 10,30 5 Returned 300 worth of damaged goods purchased account from Gum Co. on January 3 Made cash sales for the week totaling 13.150. Purchased merchandise on account from Pang Co. 4.500 Sold merchandise on account to Loeng Corp. VS400, invece no. 372, terms 10,30 11 Purchased merchandise on account from Che Co. 13.700 13 Paid in full Gum Co on accountless a 25% discount 13 Made cash sales for the week totaling 16.260 15 Received payment from Loeng Corp. for invoice : 372 15 Paid semi-monthly salaries of 14.300 to employees 17 Received payment from Wel for invoice no. 371. 17 Sold merchandise on account to Dyun Co.V1.200 Invoice no. 373.1/10, 1/30 19 Purchased equipment on account from Zu Corp. 15.500 20 Cash sales for the week totaled 3.200 Paid in full Pang Co. on accountless a 25 discount Purchased merchandise on account from Gom Co. 7.800 Purchased merchandise on account from Yap Cory V5.100 27 Made cash sales for the week totaling V4.230 30 Received payment from Dyun Co. for invoice no. 373 31 Pald semi-monthly salaries of 113.200 to employees 31 Sold merchandise on account to Wei 19.110, invoice 374 terms 1/10/20 Meng uses the following journals. 1. Sales journal 2. Single-column purchases journal 2. Cash receipts journal with columns for Cash Dr. Sales Discounts Dr. Accounts Receivable C Sales Revenge Cr. Other Accounts r. and Cost of Goods Sold De/Inventory C. 4. Cash payments journal with columns for Other Accounts De, Accounts Payable De Inventory Cr. and Cash Cr. 5. General journal 20 23 Instructions Using the selected accounts provided: Record the January transactions in the appropriate journal noted 1. Foot and cross-foot all special journals c. Show how postings would be made by placing ledger account number and checkmarks as needed In the journals. (Actual posting to ledger account is not required a Sales journal 121,100 Purchases journal 30,100 Cash receipts journal balancing total 38,794 Cash payments journal balancing total 40,750