R. Sunland Co. uses special journals and a general journal. The following transactions occurred during May 2020. May 1 R. Sunland invested $46,900 cash in the business. 2 Sold merchandise to Lawrie Co. for $6,530 cash. The cost of the merchandise sold was $4,470. 3 Purchased merchandise for $6,940 from J. Moskos using check no. 101. 14 Paid salary to H. Rivera $715 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $965, terms n/30. The cost of the merchandise sold was $550. 22 A check of $9,380 is received from M. Mangini in full for invoice 101; no discount given.
R. Sunland Co. uses special journals and a general journal. The following transactions occurred during May 2020. May 1 R. Sunland invested $46,900 cash in the business. 2 Sold merchandise to Lawrie Co. for $6,530 cash. The cost of the merchandise sold was $4,470. 3 Purchased merchandise for $6,940 from J. Moskos using check no. 101. 14 Paid salary to H. Rivera $715 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $965, terms n/30. The cost of the merchandise sold was $550. 22 A check of $9,380 is received from M. Mangini in full for invoice 101; no discount given.
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R. Sunland Co. uses special journals and a general journal. The following transactions occurred during May 2020.
| May 1 | R. Sunland invested $46,900 cash in the business. | |
|---|---|---|
| 2 | Sold merchandise to Lawrie Co. for $6,530 cash. The cost of the merchandise sold was $4,470. | |
| 3 | Purchased merchandise for $6,940 from J. Moskos using check no. 101. | |
| 14 | Paid salary to H. Rivera $715 by issuing check no. 102. | |
| 16 | Sold merchandise on account to K. Stanton for $965, terms n/30. The cost of the merchandise sold was $550. | |
| 22 | A check of $9,380 is received from M. Mangini in full for invoice 101; no discount given. |
Transcribed Image Text:Prepare a multiple-column cash payments journal and record the transactions for May that should be journalized. (Record
entries in the order presented in the problem statement.)
R. SUNLANDCO.
Cash Payments Journal
Ref.
Other Accounts Dr.
Accounts Payable Dr.
Inventory Cr.
Cash Cr.
Transcribed Image Text:R. SUNLANDCO.
Cash Payments Journal
Date
Ck. No.
Account Debited
Ref.
Other Accounts Dr.
Accounts P:
2020
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