Check Figure: $4$ Trial balance $=$ $$512,256$It is October $16,2020,$ and you have just taken over the accounting work for China Moon Products, whose annual accounting period ends October $31.$ The companys previous accountant journalized its transactions through October $15$ and posted all items that required posting as individual amounts, as an examination of the journals and ledgers in the Working Papers will show.The company completed these transactions beginning October $16,2020.$ Terms of all sales credit sales are $2/10,$ n$/30$Oct. $-16$ Purchased office supplies on credit from green supply company $,1,470$ invoice dated $16.$ terms n$/10$ EOM $-16$ Sold merchandise on credit to Heather Flatt, invoice # $916.$ $$9,100$ cost $$5,270-18$ issued a credit memo to Amy Izon for defective merchandise sold on Oct. $15$ and returned for credit, $$400.$ the returned merchandise was scrapped. $-19$ Received a $$1,280$ credit memo from waltres company for merchandise received on Oct $15$ and returned for credit. $-20$ Received a $$286$ credit memo from Green Supply Company for office supplies received on Oct $16$ and returned for credit.$-20$ Purchased store equipment on credit from Green Supply Company, invoice dated Oct. $19,$ terms n$/10$ EOM, $$14,800-21$ Sold merchandise on credit to Jan Wildman, invoice # $917,$ $$10,900.$ Cost, $$6,32022-$ Received payment from Heather Flatt for the Oct. $12$ sale$\mathrm{.}25-$ Received payment from Amy Izon for the Oct. $15$ sale$25-$ Issued cheque #$623$ to Walters company in payment of its Oct $15$ invoice$\mathrm{.}25-$ Issued cheque #$624$ to Sunshine company in payment of its Oct $15$ invoice$\mathrm{.}28-$ Received merchandise with an invoice dated Oct $28,$ terms $2/10,$n$/60,$ from Sunshine Company, $$12,95028-$ Sold a neighbouring merchant a carton of calculator tape $($store supplies$)$ for cash at cost$,$ $$116\mathrm{.}29-$ Marlee Levin, the owner of China Moon Products, used cheque #$625$ to withdraw $$8,000$ cash from the business for personal use$\mathrm{.}30-$ Issued cheque #$626$ to Midwest Elctric Company in payment of the Oct. electric bill, $$1,24030-$ Issued cheque #$627$ to Jamie Ford, the company's only sales employee, in payment of her salary for the last half of Oct. $$3,26031-$ Cash sales for the last half of the month were $$132,256.$ Cost, $$76,700.$ Cash sales are usually recorded daily but are recorded only twice in this problem to reduce the repetitive transactionsRequired$1-$Record the transactions in the journals$\mathrm{.}2-$Post to the customer and creditor accounts and also post any amounts that should be posted as individual amounts to the general ledger accounts. Normally, these amounts are posted daily, but they are posted only once in this problem because they are few in numbers.