Corona company uses a sales journal, a cash receipts journal, and a general journal to record
transactions with its customers.
may 2 sold merchandise for $18,000 to m. jordan on account. credit terms 2/10, n/30.
sales invoice no. 100. the cost of the merchandise sold was $11,700.
may 5 received a check for $1,300 from k. bryant in payment of his account.
may 8
sold merchandise to s. o'neal for $900 cash. the cost of the merchandise sold
was $585.
may 10
received a check for $17,640 from m. jordan in payment of an invoice dated
may 2 for $18,000.
may 15
sold merchandise for $7,000 to k. jabbar on account. credit terms 1/10, n/30.
sales invoice no. 101. the cost of the merchandise sold was $4,550.
may 18 borrowed $15,000 cash from pacific bank signing a 6-month, 10% note.
may 20 sold merchandise for $12,000 to j. west on account. credit terms 1/10, n/30.
sales invoice no. 102. the cost of the merchandise sold was $7,800.
may 31 received a check from k. jabbar for $5,500 as payment on account, no discount
given.
required:
record the transactions for may that should be journalized in sales journal and cash receipt
journal.