Question $1$: $11$ marks

From the following transactions for Maggie $Co.,$ when appropriate, journalize $(Sales$ journal and

Cash payments journals$),$ record, post, and prepare a schedule $of$ accounts receivable. All sales

terms are $\frac{2}{10},\frac{n}{30}.$

$2023$

June $2$ Maggie $G.$ invested $$6,000in$ the business.

$3$ Sold merchandise $on$ account $to$ Boston $Co.,$ invoice $No.218,$

$$800.$ Cost $of$ inventory was $$600.$

$3$ Sold merchandise $on$ account $to$ Wei $Co.,$ invoice $No.219,$

$$1,200.$ Cost $of$ inventory was $$900.$

$6$ Cash sale, $$300.$ Cost $of$ inventory was $$225.$

$9$ Issued credit memorandum $No.24to$ Boston $Co.$ for defective

merchandise, $$150.$ Cost $of$ inventory was $$112\mathrm{.}50.$

$10$ Received cheque from Boston $Co.$ for invoice $No.218$ less

returns and discount.

$16$ Cash sale, $$500.$ Cost $of$ inventory was $$375.$

$17$ Sold merchandise $on$ account $to$ Boston $Co.,$ invoice $No.220,$

$$700.$ Cost $of$ inventory was $$525.$