R. Santiago Co. uses special journals and a general journal. The following transactions occurred during May 2014. May 1 R. Santiago invested…

R. Santiago Co. uses special journals and a general journal. The following transactions occurred during May 2014.

May 1   R. Santiago invested $40,000 cash in the business.
2   Sold merchandise to Lawrie Co. for $6,300 cash. The cost of the merchandise sold was $4,200.
3   Purchased merchandise for $7,700 from J. Moskos using check no. 101.
14   Paid salary to H. Rivera $700 by issuing check no. 102.
16   Sold merchandise on account to K. Stanton for $900, terms n/30. The cost of the merchandise sold was $630.
22   A check of $9,000 is received from M. Mangini in full for invoice 101; no discount given

 

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