a. For the Ely Goldman Co. in July 2019, journalize record and post the following transactions...

 

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a. For the Ely Goldman Co. in July 2019, journalize record and post the following transactions as needed to the sales, cash receipts and general journals. All terms area 2/10, n/30 b. b. Prepare a schedule of accounts receivable 2 Ely invested 10,000 in business. 4 Sold merchandise on account to Belly Co., invoice No1- $300. Cost of the inventory was $275. 5 Sold merchandise on account to Cabby Co., invoice No2- $700. Cost of the inventory was $500. 6 Cash Sale- $400 cost of the inventory was $300. 8 Issued Credit memo No 1. to Belly Co . For defective merchandise $100. Cost of the inventory was 75. CRJ Jul-19 SJ SJ CR GJ CRJ 11 Received cheque from Belly co. for the invoice No 1 less Returns and discounts. 16 Cash Sale - $ 500 Cost of the inventory was $400. 19 Sold merchandise on account to Belly co. $600 invoice no 3. CRJ SJ Cost of inventory was $413.00 a. For the Ely Goldman Co. in July 2019, journalize record and post the following transactions as needed to the sales, cash receipts and general journals. All terms area 2/10, n/30 b. b. Prepare a schedule of accounts receivable 2 Ely invested 10,000 in business. 4 Sold merchandise on account to Belly Co., invoice No1- $300. Cost of the inventory was $275. 5 Sold merchandise on account to Cabby Co., invoice No2- $700. Cost of the inventory was $500. 6 Cash Sale- $400 cost of the inventory was $300. 8 Issued Credit memo No 1. to Belly Co . For defective merchandise $100. Cost of the inventory was 75. CRJ Jul-19 SJ SJ CR GJ CRJ 11 Received cheque from Belly co. for the invoice No 1 less Returns and discounts. 16 Cash Sale - $ 500 Cost of the inventory was $400. 19 Sold merchandise on account to Belly co. $600 invoice no 3. CRJ SJ Cost of inventory was $413.00