Reference no: EM132713015

Problem 1: Bright's Patio Shop sells garden and patio furniture. Record the following transactions in the appropriate special journals. Total each journal at May 31.

May 1
Sold $2,600 of patio furniture to Jen Williams, terms n/30, invoice 310 (cost, $1,700).

may 2
Purchased inventory on credit terms of 1/10, n/60 from Sisco Corp., $8,000. Invoice date is May 2.

may 5
Sold inventory for cash, $400 (cost, $220).

may 10
Purchased $600 of patio lanterns from an artisan. Issued cheque no. 401.

may 15
Sold $5,000 of outdoor seating to Pat's Restaurant, terms n/30, invoice 311 (cost, $3,400).

may 22
Received payment from Jen Williams (May 1).

may 26
Received payment from Pat's Restaurant (May 15).

may 29
Paid Sisco Corp. for the purchase made on May 2, cheque no. 402.