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Prepare multi column cash receipt journal

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Question - Prepare multi column cash receipt journal and record the transactions for May that is journalize.

R. Pharoah Co. uses special journals and a general journal. The following transactions occurred during May 2020. My problem is below.

May 1) R. Pharoah invested $52,500 cash in the business.

May 2) Sold merchandise to Lawrie Co. for $6,420 cash. The cost of the merchandise sold was $3,970

May 3) Purchased merchandise for $6,790 from J. Moskos using check no. 101.

May 14) Paid salary to H. Rivera $805 by issuing check no. 102.

May 16) Sold merchandise on account to K. Stanton for $845, terms n/30. The cost of the merchandise sold was $605.

May 22) A check of $9,470 is received from M. Mangini in full for invoice 101; no discount given.

Reference no: EM132947120

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