Table 7-9
the Following Transactions Occurred During the Month of July

Essay

Table 7-9
The following transactions occurred during the month of July for Lancer Company. $\begin{array}{llcc} \text {July 1 } &\text {Sold Merchandise on credit for \( \$ 3,100 \) to Chris Co, \( 2 / 10, \mathrm{n} 30 \), Invoice 316 . } \\ \text { 7 } & \text { Sold merchandise on credit to D. James for \( \$ 900,2 / 20 \), n 30 , Invoice 317 . }\\ \text {8 } &\text {Borrowed \( \$ 2,750 \) by giving a note to the bank. }\\ \text {13 } &\text {Owner invested an additional \( \$ 3,500 \) cash into the business. }\\ \text { 18 } &\text { Sold merchandise to \( M \). Garnett for \( \$ 230 \) cash.}\\ \text { 22} &\text { Sold merchandise to \( \mathrm{ABC} \) Co. \( \$ 2,100 \), Invoice \( 318 \mathrm{n} / 30 \). }\\ \text {27 } & \text { Received payment from D. James for the July 7 purchase. }\\ \text {30 } &\text {Paid salaries of \( \$ 1,600 \). }\\\end{array}$


-Refer to Table 7-9. Record transactions in the sales and cash receipts journals only (foot and cross-foot journals). $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ $\text { Sales Journal}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Page 2}$
$\begin{array}{c|c|l|l|c|}\hline \text { Date } & \begin{array}{c}\text { Account } \\\text { Debited }\end{array} & \text { Invoice Number } & \text { PR } & \begin{array}{c}\text { Accounts Receivab le Dr. } \\\text { Sales Cr. }\end{array} \\\hline & & & & \\\hline & & & &0 \\\hline & & & & \\\hline & & & & \\\hline\end{array}$

$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Cash Receipts Journal }$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Page 2}$
$\begin{array}{c|c|c|c|c|c|c|c|c|}\hline \text { Date } & \begin{array}{c}\text { Account } \\\text { Credited }\end{array} & \text { PR } & \text { Explanation } & \begin{array}{c}\text { Cash } \\\text { Dr. }\end{array} & \begin{array}{c}\text { Sales } \\\text { Disc. } \\\text { Dr. }\end{array} & \begin{array}{c}\text { Accts. } \\\text { Rec. } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Sales } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Other } \\\text { Accts. } \\\text { Cr. }\end{array} \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & &\\\hline \end{array}$