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O PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Chapter 7 & 8 - Post- Lecture Assignment Problem 7-6A Problem 7-7A Problem 7-14 Problem 8-2A Problem 8.5A Problem 8-6A Problem 8-6A The following selected transactions occurred for Tarjee Corporation. The company uses a perpetual inventory system, has a May 31 year end, and adjusts its accounts annually. Review Score Review Results by Study Objective Mobile Site Feb. 1 Sold merchandise for $7,900 on account (n/30) to Morgan Ltd.. The cost of goods sold was $5,925. 3 Sold $14,400 of merchandise costing $8,300 to Gauthier Company and accepted Gauthier's two-month, 5% note in payment. Interest is due at maturity. 26 Sold $12,000 of merchandise to Mathias Corp., terms n/30. The cost of the merchandise sold was $7,700. Sold, on account, $4,100 of merchandise that cost $3,000 to Superior Limited 27 Accepted a two-month, 7%, $12,000 note from Mathias for the balance due. Interest is due at maturity. (See February 26 transaction.) Apr. 3 Collected the Gauthier note in full. (See February 3 transaction.) May 27 The Mathias note of March 27 was dishonoured. It is expected that Mathias will eventually pay the amount owed. 31 Recorded accrued interest for three months on outstanding interest on the receivable due from Morgan. Interest on unpaid receivables is charged at 24% per annum (2% per month). (See February 1 transaction.) Chat Post Record the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.) (to records )

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