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Journalize the September transactions

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Question - StickUps Company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. The following transactions occurred during the month of September 2020:

Sept. 3 Purchased merchandise on credit for $6,200 from Pacer Co.

Sept. 7 Sold merchandise on credit to J. Namal for $1,800, subject to a 2% sales discount if paid by the end of the month. Cost, $1,000.

Sept. 9 Borrowed $5,500 by giving a note to the bank. 13The owner, Dale Trent, invested an additional $7,000 cash into the business.

Sept. 18 Sold merchandise to B. Baird for $460 cash. Cost, $280.

Sept. 22 Paid Pacer Co. $6,200 for the merchandise purchased on September 3.

Sept. 27 Received $1,764 from J. Namal in payment of the September 7 purchase.

Sept. 30 Paid salaries of $3,200.

Required - Journalize the September transactions that should be recorded in the Cash Receipts Journal, assuming the perpetual inventory system.

Reference no: EM132526189

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