Wiset Company completes these transactions during April of thecurrent year (the terms of all its credit sales are 2/10, n/30).Apr. 2 Purchased $14,300 of merchandise on credit from NothCompany, invoice dated April 2, terms 2/10, n/60. 3 Soldmerchandise on credit to Page Alistair, Invoice No. 760, for $4,000(cost is $3,000). 3 Purchased $1,480 of office supplies on creditfrom Custer, Inc. Invoice dated April 2, terms n/10 EOM. 4 IssuedCheck No. 587 to World View for advertising expense, $899. 5 Soldmerchandise on credit to Paula Kohr, Invoice No. 761, for $8,000(cost is $6,500). 6 Received an $80 credit memorandum from Custer,Inc., for the return of some of the office supplies received onApril 3. 9 Purchased $12,125 of store equipment on credit fromHal’s Supply, invoice dated April 9, terms n/10 EOM. 11 Soldmerchandise on credit to Nic Nelson, Invoice No. 762, for $10,500(cost is $7,000). 12 Issued Check No. 588 to Noth Company inpayment of its April 2 invoice less the discount. 13 Receivedpayment from Page Alistair for the April 3 sale less the discount.13 Sold $5,100 of merchandise on credit to Page Alistair (cost is$3,600), Invoice No. 763. 14 Received payment from Paula Kohr forthe April 5 sale less the discount. 16 Issued Check No. 589,payable to Payroll, in payment of sales salaries expense for thefirst half of the month, $10,750. Cashed the check and paidemployees. 16 Cash sales for the first half of the month are$52,840 (cost is $35,880). 17 Purchased $13,750 of merchandise oncredit from Grant Company, invoice dated April 17, terms 2/10,n/30. 18 Borrowed $60,000 cash from First State Bank by signing along-term note payable. 20 Received payment from Nic Nelson for theApril 11 sale less the discount. 20 Purchased $830 of storesupplies on credit from Hal’s Supply, invoice dated April 19, termsn/10 EOM. 23 Received a $750 credit memorandum from Grant Companyfor the return of defective merchandise received on April 17. 23Received payment from Page Alistair for the April 13 sale less thediscount. 25 Purchased $11,375 of merchandise on credit from NothCompany, invoice dated April 24, terms 2/10, n/60. 26 Issued CheckNo. 590 to Grant Company in payment of its April 17 invoice lessthe return and the discount. 27 Sold $3,170 of merchandise oncredit to Paula Kohr, Invoice No. 764 (cost is $2,520). 27 Sold$6,700 of merchandise on credit to Nic Nelson, Invoice No. 765(cost is $4,305). 30 Issued Check No. 591, payable to Payroll, inpayment of the sales salaries expense for the last half of themonth, $10,750. 30 Cash sales for the last half of the month are$73,975 (cost is $58,900).
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