Business, 19.10.2021 01:00 HHHHHHHHHMMMMMMMMM

Mead Company uses a perpetual inventory system and engaged in the following transactions during the month of May: May 1 Made cash sales of $8,800; the cost of the inventory was $3,300.
5 Purchased $2,700 of inventory on credit.
9 Made credit sales of $3,500; the cost of the inventory sold was $1,800.
13 Paid sales salaries of $900 and office salaries of $500.
14 Paid for the May 5 purchases.
18 Purchased sales equipment costing $6,800; made a down payment of $1,600 and agreed to pay the balance in 60 days.
21 Purchased $700 of inventory for cash.
27 Sold land that had originally cost $2,000 for $3,100.

Required:
Record the preceding transactions in a general journal.

Answers: 2

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Mead Company uses a perpetual inventory system and engaged in the following transactions during the...