Question: QUESTION 2 40 MARKS Prepare general journal entries to record the following transactions of Pine Ridge Company 2023 June 1 Sold Merchandise to Wolf Creek

QUESTION 2 40 MARKS Prepare general journal entries to record the following transactions of Pine Ridge Company 2023 June 1 Sold Merchandise to Wolf Creek Co. for $9.500, terms 2/5, n30. FOB destination. Cost of sales: $6,650. 2 Purchased $4.900 of merchandise from Meadow Lakes Golf Club, terms 1/10, n20, FOB shipping point 6 Collected the amount owing from Wolf Creek Co. regarding the June 1 sale. 12 Paid Meadow Lakes Golf Club for the June 2 purchase. 30 Accepted a $15,000, six month, 4.5% note dated today from Mary Lake in granting a time extension on her past-due account. a Aug 31 Adjusted the books for the interest due on the Mary Lake note. Dec 31 Mary Lake honored her note when presented for payment

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