Problem 8.6A (Static) Journalizing and posting merchandising transactions for buyer and seller. LO 8-1, 8-3, 8-4 PLEASE HELP

Bennington Company (buyer) and Sanchez, Inc (seller), engaged in the following transactions during January 201 : Bennington Company Date transactrons 201 3an. 8 Issued Check 2101 for $2,254 on account ta Sanchez, Inc.. in payment of Involce 13as dated December 3e, 200,1 less cash discount of $46. 10 Purchased merchandise for $1,150 from Sanchez, Inc., Invalce 1920; terins 2/10,n/10. 15 Received Credit Menorandun 320 from Sanchez, Tnc., for danaged merchandise totaling s3ee that was returned; the goods mere purchased on thvolce 1920 , dated Jamary 10. 19 pold anount due to Sanchez, Tne., for Invoice 1920 of January 10 , less the return of lanuary 15 and less the cash discount, check 2130. 30 Purchased merchandise for 52 , 3ee fron Sancher, Inc., Invoice 1950; teres 2/10, R/30. GENERAL LEDGER ACCOUNTS-BENNINGTON COMPANY 201 Accounts Payable, $2,300CI ACCOUNTS PAYABLE LEDGER ACCOUNT-BENNINGTON COMPANY Sanchez, Inc. $2.300 Sanchez, Inc. Date Thansactioto 3an. Bs Received paynent of $2,254 on account froe lennington Coepany in paynent of Invofce 1885 dated Deceaber 30,200, Iess eash discount of 546 . 10 Sold serchantise for 31,156 on occount to Bennington Company, Inveice 1920, terss 2/10,n/30. 15 Issued Credft Menorandum 120 to Bennington Company for danaged werehandise totaling 3100 that was returned; the goods were purchased an Involce 1020 , dated Jonuacy 10. 19 arcelved paykent from Bennington Coepany for involce 1920 of January 10, less the return of Jamary 15 and less the calh alscount. 30 Sold merchandlse for 52,590 to leennington Conpany, Imolce 1050; terms 2/10, n/3e. GENERAL LEDGER ACCOUNTS-SANCHEZ, INC. 111 Accounts Receivable, \$2,300 Dt. ACCOUNTS RECEIVABLE LEDGER ACCOUNT-SANCHEZ, INC. Bennisgton Company, \$2,300 Required: 1a. Journalize the transactions above in a general joumal for Bennington Company 1b. Journalize the transactions above in a general joumat for Sanchez, Inc. 2. Post the transactions to the appropriate accounts in the general ledger and the accounts payable subsidiary ledger for Bennington Company 3. Post the transactions to the appropriate accounts in the general ledget and the accounts receivable subsidiary ledger for Sanchez inc. Analyze: What is the balance of the accounts payable for Sanchez, Inc, in the Bennington Company accounts payable subsidiary ledger? What is the balance of the accounts receivable for Bennington Company in the Sanchez, Inc, accounts receivable subsidiary ledger? Complete this question by entering your answers in the tabs, below. ledger and the accounts payable subsidiary ledger for Bennington Company. E Post the transactions to the appropriate aco of January 1,201. Post the transactions to the appropriate accounts in the general ledger and the accounts receivable subsidiary ledger for Sanchez, Inc. Enter the I of lanuary 1,201. Complete this question by entering your answers in the talis below. What is the balance of the accounts payable for Sanchez, Inc, in the Bennington Company accounts payable subsidiary ledger? What is the balance of the accounts receivable for Bennington Company in the Sanchez, Inc., accounts receivable subsidiary ledger