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3 6 During its July 2021 operations, the sales and purchases transactions of Cabancalan Grocers owned by H. Cortes are listed below. All sales and purchases are made on account July 2 Purchased merchandise from Talamban Company, P35,000. Invoice No. 035 Purchased merchandise from C. Mall Company, P80,000. Invoice No. 1353 Returned P5,000 of the merchandise purchased from C. Mall Company on July 3 9 Sold merchandise to Basak Company, P40,000. Invoice No. 001. Sold merchandise to Cubacob Company, P20,000. Invoice No. 002 Purchased merchandise from Canduman Corp., P60,000. Invoice No. 566 Sold merchandise to Mahogany Grove Co., P40,000. Invoice No. 003. Purchased merchandise from Villa Lina Co., P25,000. Invoice No. 327. 22 Sold merchandise to Panagdait Company, P45,000. Invoice No. 25 Received returns from Mahogany Grove Co. pertaining to the sale of July 14, P4,000 11 12 14 16 Required: 1. Record the transactions in a sales journal, purchases journal, or general journal. 2. Post these transactions to the general and subsidiary ledger accounts, creating accounts as needed Use the following general ledger accounts numbers: Accounts Receivable 120 Accounts Payable 210 Sales 410 Sales Returns and Allowances Purchases 510 Purchases Returns and Allowances 520 420

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