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 $16,000of merchandise on credit from Noth Company, invoice dated April 2,terms 2/10, n/60.
		3		Sold merchandise oncredit to Page Alistair, Invoice No. 760, for $5,900 (cost is$3,400).
		3		Purchased $1,500 ofoffice supplies on credit from Custer, Inc. Invoice dated April 2,terms n/10 EOM.
		4		Issued Check No.587 to World View for advertising expense, $879.
		5		Sold merchandise oncredit to Paula Kohr, Invoice No. 761, for $9,200 (cost is$7,500).
		6		Received an $80credit memorandum from Custer, Inc., for the return of some of theoffice supplies received on April 3.
		9		Purchased $12,095of store equipment on credit from Hal’s Supply, invoice dated April9, terms n/10 EOM.
		11		Sold merchandise oncredit to Nic Nelson, Invoice No. 762, for $11,400 (cost is$7,300).
		12		Issued Check No.588 to Noth Company in payment of its April 2 invoice less thediscount.
		13		Received paymentfrom Page Alistair for the April 3 sale less the discount.
		13		Sold $7,000 ofmerchandise on credit to Page Alistair (cost is $4,500), InvoiceNo. 763.
		14		Received paymentfrom Paula Kohr for the April 5 sale less the discount.
		16		Issued Check No.589, payable to Payroll, in payment of sales salaries expense forthe first half of the month, $11,400. Cashed the check and paidemployees.
		16		Cash sales for thefirst half of the month are $54,570 (cost is $44,500). (Cash salesare recorded daily from cash register data but are recorded onlytwice in this problem to reduce repetitive entries.)
		17		Purchased $11,900of merchandise on credit from Grant Company, invoice dated April17, terms 2/10, n/30.
		18		Borrowed $73,000cash from First State Bank by signing a long-term notepayable.
		20		Received paymentfrom Nic Nelson for the April 11 sale less the discount.
		20		Purchased $820 ofstore supplies on credit from Hal’s Supply, invoice dated April 19,terms n/10 EOM.
		23		Received a $1,100credit memorandum from Grant Company for the return of defectivemerchandise received on April 17.
		23		Received paymentfrom Page Alistair for the April 13 sale less the discount.
		25		Purchased $11,195of merchandise on credit from Noth Company, invoice dated April 24,terms 2/10, n/60.
		26		Issued Check No.590 to Grant Company in payment of its April 17 invoice less thereturn and the discount.
		27		Sold $3,410 ofmerchandise on credit to Paula Kohr, Invoice No. 764 (cost is$2,700).
		27		Sold $6,100 ofmerchandise on credit to Nic Nelson, Invoice No. 765 (cost is$5,450).
		30		Issued Check No.591, payable to Payroll, in payment of the sales salaries expensefor the last half of the month, $11,400.
		30		Cash sales for thelast half of the month are $75,200 (cost is $65,500).

Assume that Wiset Co. uses the perpetual inventory system.

     
Required:

1-a. Review the April transactions of WisetCompany and enter those transactions that should be journalized inthe purchases journal.
1-b. Review the April transactions of WisetCompany and enter those transactions that should be journalized inthe cash disbursements journal.
1-c. Prepare a general journal. Review the Apriltransactions of Wiset Company and enter those transactions thatshould be journalized in the general journal.
2 & 3. Enter the March 31 balances of Cash($98,000), Inventory ($138,000), Long-Term Notes Payable($136,000), and B. Wiset, Capital ($100,000). Post the totalamounts from the journal in the following general ledger accountsand in the accounts payable subsidiary ledger accounts for Hal’sSupply, Noth Company, Grant Company and Custer, Inc.
4-a. Prepare a trial balance.
4-b. Prepare a schedule of accountspayable.