Question

Hello....I could really use some help on the 12 page Accounting Question. This is only 2 parts of MANY. Please fill in the answers in a table or some format that I, as a non-accounting major, will understand. Thank you so much!

Accounting Cycle Review 7-01 a1-f2

Sunland Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger. Balances related to both the general ledger and the subsidiary ledger for Sunland are indicated in the working papers. Presented below are a series of transactions for Sunland Co. for the month of January. Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 60% of the sales price.

GENERAL LEDGER
papers. Presented below are a series of transactions for Sunland Co. for the mo GENERAL LEDGER Account Number 101 112 115 120 126 Account Title Cash Accounts Receivable Notes Receivable Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Owner's Capital January 1 Opening Balance $34,250 13,300 41,000 15,000 1,000 1,500 7,350 1,600 35,500 76,300 130 157 158 201 Schedule of Accounts Receivable (from accounts receivable subsidiary ledger) January 1 Customer Opening Balance R. Beltre $1,700 B. Santos 7,500 S. Mahay 4,100 Schedule of Accounts Payable (from accounts payable subsidiary ledger) January 1 Customer Opening Balance S. Meek $8,500 R. Moses 17,000 D. Saito 10,000

Answer 1

Purchases Journal
Date	Account Credited	Terms	Ref.	Inventory Dr. Accounts Payable Cr.
Jan. 5	S. Gamel	n/30	√	5000
Jan. 5	D. Posey	n/30	√	2500
Jan. 16	D. Saito	1/10, n/30	√	15000
Jan. 16	S. Meek	2/10, n/30	√	14600
Jan. 16	S. Gamel	n/30	√	1500
Jan. 27	D. Saito	1/10, n/30	√	14100
Jan. 27	D. Posey	n/30	√	3500
Jan. 27	S. Gamel	n/30	√	5100
				61300

Cash Receipts Journal
Date	Account Credited	Ref.	Cash Dr.	Sales Discounts Dr.	Accounts Receivable Cr.	Sales Revenue Cr.	Other Accounts Cr.	Cost of Goods Sold Dr. Invenotry Cr.
Jan. 7	S. Mahay	√	4100		4100
Jan. 7	B. Santos	√	2000		2000
Jan. 10			15500			15500		9300
Jan. 13	B. Corpas	√	3626	74	3700
Jan. 13	D. Revere	√	1176	24	1200
Jan. 20			20100			20100		12060
Jan. 21	S. Mahay	√	882	18	900
Jan. 31			23100			23100		13860
			70484	116	11900	58700		35220