Question: Problem 7-5. Jack Co. has the following data for the month of April: Cash 110 Partial General Ledger Inventory 130 Sales Discounts 430 Dr.

Problem 7-5. Jack Co. has the following data for the month of

Problem 7-5. Jack Co. has the following data for the month of April: Cash 110 Partial General Ledger Inventory 130 Sales Discounts 430 Dr. Cr. Dr. Cr. Dr. Cr Bal. 1,140 Bal. 5,100 Accounts Receivable 120 Sales 410 Dr. Cr. Dr. Cr. Dr. Cost of Goods Sold 510 Cr. Bal. 400 Transactions: Accounts Receivable Subsidiary Ledger Red Co. Pedro Lee Co. Bal. 300 Bal. 100 April 9 April 12 Received cheque from Red Co. for balance due less 4% discount. Cash sale collected, $1,300. Cost of the inventory sold was $975. Requirement: After journalizing and posting the above transactions (April 9 and 12), det balance of the following: 1. Cash 2. Accounts Receivable (controlling account). 3. Sales Discount

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