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Mead Company uses a perpetual inventory system and engaged in the following transactions during the...

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Accounting

Mead Company uses a perpetual inventory system and engaged in the following transactions during the month of May: Date May 1 5 9 13 14 18 21 27 Transaction Made cash sales of $6,300; the cost of the inventory was $3,700. Purchased $2,000 of inventory on credit. Made credit sales of $3,300; the cost of the inventory sold was $1,900. Paid sales salaries of $900 and office salaries of $600. Paid for the May 5 purchases. Purchased sales equipment costing $8,000; made a down payment of $2,000 and agreed to pay the balance in 60 days. Purchased $600 of inventory for cash. Sold land that had originally cost $1,900 for $2,600. Required: Record the preceding transactions in a general journal.
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Mead Company uses a perpetual inventory system and engaged in the following transactions during the month of May: Record the preceding transactions in a general journal. General Journal GENERAL JOURNAL

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