R. Ivanhoe Co. uses special journals and a general journal. The following transactions occurred during May...

 

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R. Ivanhoe Co. uses special journals and a general journal. The following transactions occurred during May 2020. May 1 R. Ivanhoe invested $53,600 cash in the business. Sold merchandise to Lawrie Co. for $6,290 cash. The cost of the merchandise sold was $4,130. 3 Purchased merchandise for $7,600 from J. Moskos using check no. 101. 14 Paid salary to H. Rivera $775 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $950, terms n/30. The cost of the merchandise sold was $600. 22 A check of $8,840 is received from M. Mangini in full for invoice 101; no discount given. 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. IVANHOE CO. Cash Receipts Journal CR1 Sales Accounts Sales Other Cost of Goods Sold Account Credited Cash Discounts Receivable Revenue Accounts Dr. Date Ref. Dr. Dr. Cr. Cr. Cr. Inventory Cr. 2020 LINK TO TEXT VIDEO: SIMILAR EXERCISE Prepare a multiple-column cash payments journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement.) R. IVANHOECO. Cash Payments Journal CP1 Date Ck. No. Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Inventory Cr. Cash Cr. 2020 Click if you would like to Show Work for this question: Open Show Work R. Ivanhoe Co. uses special journals and a general journal. The following transactions occurred during May 2020. May 1 R. Ivanhoe invested $53,600 cash in the business. Sold merchandise to Lawrie Co. for $6,290 cash. The cost of the merchandise sold was $4,130. 3 Purchased merchandise for $7,600 from J. Moskos using check no. 101. 14 Paid salary to H. Rivera $775 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $950, terms n/30. The cost of the merchandise sold was $600. 22 A check of $8,840 is received from M. Mangini in full for invoice 101; no discount given. 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. IVANHOE CO. Cash Receipts Journal CR1 Sales Accounts Sales Other Cost of Goods Sold Account Credited Cash Discounts Receivable Revenue Accounts Dr. Date Ref. Dr. Dr. Cr. Cr. Cr. Inventory Cr. 2020 LINK TO TEXT VIDEO: SIMILAR EXERCISE Prepare a multiple-column cash payments journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement.) R. IVANHOECO. Cash Payments Journal CP1 Date Ck. No. Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Inventory Cr. Cash Cr. 2020 Click if you would like to Show Work for this question: Open Show Work