Exercise 7-07 a-b (Part Level Submission) (Video) R. Cullumber Co. uses special journals and a general journal. The following transactions occurred during May 2020 May 1 R. Cullumber invested $50,200 cash in the business Sold merchandise to Lawrie Co. for $6,290 cash. The cost of the merchandise sold was $4,080 2 3 Purchased merchandise for $7,000 from J. Moskos using check no. 101 14 Paid salary to H. Rivera $740 by issuing check no. 102 16 Sold merchandise on account to K. Stanton for $810, terms n/30. The cost of the merchandise sold was $555 22 A check of $9,260 is received from M. Mangini in full for invoice 101; no discount given. (a) Prepare a multiple-column cash receipts journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement.) R. CULLUMBER CO. Cash Receipts Journal CR1 Account Credited Cash Dr Sales Discounts Dr. Accounts Receivable Cr Sales Revenue Cr Other Accounts Cost of Goods Sold Dr. Inventory Cr Date Ref 2020