EXERCISE (All exercise would be saved in one record) Journalize the following transactions for the month of February 1; a.Sold merchandise on account for $10,000 (other income, other receivable,); Cost of Goods Sold $3,000 (Inventory, Cost of Sale) b. Received the utilities bill for $250.00 (accrued expense, utilities expense) C. Salaries for the week are $3,300 (salaries expense, wages payable) d. Received and invoice of $100 for advertising.

2. Create a new vendor (use your own information), Term 3%, n/15, credit limit $1,000. Prepare the Vendor List

Report only for your account, include a column for term conditions and credit limits. (February 5) 3.Prepare a sales order (15 units of any product). In the Sales Order Register include a column with the name of the vendor. (February 7) 4.The invoice from the sales order above was delivered completely (February 9) 5.(Prepare a Invoice Register) 6.Prepare an Income Statement (February 28) 7.Prepare a Balance Sheet (February 28) 8. Prepare a Cash Flow