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The Mead Company uses a perpetual inventory system and engaged in the following transactions during the month of May:
Date Transaction_____
May 1 Made cash sales of $6,300; the cost of the inventory was $3,700.5 Purchased $2,000 of inventory on credit.9 Made credit sales of $3,300; the cost of the inventory sold was $1,900.13 Paid sales salaries of $900 and office salaries of $600.14 Paid for the May 5 purchases.18 Purchased sales equipment costing $8,000; made a down payment of $2,000 and agreed to pay the balance in60 days.21 Purchased $600 of inventory for cash.27 Sold land that had originally cost $1,900 for $2,600.Required
Record the preceding transactions in a general journal.
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