The general ledger of Cannin Distributors includes the following selected accounts, along with their account numbers:

Cash .................................................... 11

Accounts Receivable ........................ 12

Inventory ........................................... 13

Notes Receivable .............................. 15

Supplies ............................................. 16

Land ................................................... 18

Sales Revenue................................... 41

Sales Discounts ................................. 42

Sales Returns and Allowances .......... 43

Cost of Goods Sold.......................... 51

All credit sales are on the company's standard terms of 2/10, n/30. Transactions in July that affected sales and cash receipts were as follows:

Jul. 2 Sold inventory on credit to Fortin Inc., $2,800. Cannin's cost of these goods was $1,600.

4 As a favour to a competitor, sold supplies at cost, $3,400, receiving cash.

7 Cash sales of merchandise for the week totalled $7,560 (cost, $6,560).

9 Sold merchandise on account to A. L. Price, $29,280 (cost, $20,440).

10 Sold land that cost $50,000 for cash of $50,000.

11 Sold goods on account to Sloan Forge Ltd., $20,416 (cost, $14,080).

12 Received cash from Fortin Inc. in full settlement of its account receivable from July 2.

14 Cash sales of merchandise for the week were $8,424 (cost, $6,120).

15 Sold inventory on credit to the partnership of Wilkie & Blinn, $14,600 (cost, $9,040).

18 Received inventory sold on July 9 to A. L. Price for $2,400. The goods shipped were the wrong size. These goods cost Cannin $1,760.

20 Sold merchandise on account to Sloan Forge Ltd., $2,516 (cost, $1,800).

21 Cash sales of merchandise for the week were $3,960 (cost, $2,760).

22 Received $8,000 cash from A. L. Price in partial settlement of his account receivable.

25 Received cash from Wilkie & Blinn for its account receivable from July 15.

25 Sold goods on account to Olsen Inc., $6,080 (cost, $4,200).

27 Collected $10,500 on a note receivable.

28 Cash sales of merchandise for the week were $15,096 (cost, $9,840).

29 Sold inventory on account to R. O. Bankston Inc., $968 (cost, $680).

30 Received goods sold on July 25 to Olsen Inc. for $160. The wrong items were shipped. The cost of the goods was $100.

31 Received $18,880 cash on account from A. L. Price.

Required

1. Use the appropriate journal to record the above transactions: a sales journal (omit the Invoice No. column), a cash receipts journal, or a general journal. Cannin Distributors records sales returns and allowances in the general journal.

2. Total each column of the sales journal and the cash receipts journal. Show that total debits equal total credits.

3. Show how postings would be made from the journals by writing the account numbers and check marks in the appropriate places in the journals.