Please refer to the information contained in the question 6-5A above. During August, 2017, Airwell Company deposited four cheques and made one additional deposit as follows:
Refer to the information in question 6-5A,
Enter each of the following invoices into a multicolumn sales journal. Airwell Company sells three kinds of machining equipment: lathes (L), milling (M), and surfacing (S). Terms are all 2% 10 days, net 30. Total all columns and cross-add the journal. Place appropriate account numbers at the bottom of each column to show where the totals have been posted. Record to individual accounts in the accounts receivable sub-ledger as well as the general ledger accounts. Airwell uses 1200 as their Accounts Receivable controlling account in the general ledger, and 4010 for Lathes Sales; 4020 for Milling Sales, and 4030 for Surfacing Sales.
2017
Aug. ...... 2 Invoice No. 601 Sold $3,000 (L), $4,200 (M), and $2,500 (S) to Amaxe Engineering.
........... 5 Invoice No. 602 Sold $2,650 (L), $1,800 (M), and $900 (S) to Willow Productions.
........... 9 Invoice No. 603 Sold $4,100 (L), $3,600 (M), and $2,800 (S) to Stencle Machinery.
.......... 11 Invoice No. 604 Sold $2,700 (M) and $4,300 (S) to Macro-El Holdings.
.......... 14 Invoice No. 605 Sold $3,600 (L), $2,700 (M), and $1,700 (S) to Amaxe Engineering.
.......... 19 Invoice No. 606 Sold $5,700 (L) and $6,200 (M) to Naroco Company.
........ 22 Invoice No. 607 Sold $3,300 (L), $3,500 (M), and $2,800 (S) to Willow Productions.
........ 24 Invoice No. 608 Sold $3,200 (L), $800 (M), and $2,700 (S) to Macro-El Holdings.
....... 29 Invoice No. 609 Sold $2,500 (M) and $2,900 (S) to Amaxe Engineering.
Aug. .... 3 The owner arranged for a bank loan of $30,000 to finance inventory purchases. This amount was deposited in the company bank account.
............11 Deposited a cheque from Amaxe Engineering paying invoice No. 601, taking discount.
.............19 Deposited a cheque from Stencle Machinery paying invoice No. 603, taking discount.
............25 Deposited a cheque from Willow Productions paying invoice No. 602. No discount.
............27 Deposited a cheque from Naroco Company paying invoice No. 606, taking discount.
Required:
Enter each deposit into a cash receipts journal, and cross-add the journal at month end. Record to individual customer accounts as well as to the general ledger accounts, inserting the correct general ledger account numbers in the appropriate places as the posting is done. Airwell's Bank Loan Payable general ledger account number is 2200. The Sales Discounts account number is 4450. The Bank account number is 1100. Remember, the Accounts Receivable account number is 1200?