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Cullumber Company's chart of accounts includes the following selected accounts

Accounting

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Cullumber Company's chart of accounts includes the following selected accounts.

101. Cash. 401. Sales Revenue

112. Accounts Receivable. 414. Sales Discounts

120. Inventory. 505. Cost of Goods Sold

301 Owner's Capital

 

On April 1, the accounts receivable ledger of Cullumber Company showed the following balances:

Morrow $1,550, Rose $1,170, Jennings Co. $2,930, and Dent $2,350. The April transactions involving the receipt of cash were as follows.

 

Apr. 1. The owner, T. Cullumber, invested additional cash in the business $7,280.

4. Received check for payment of account from Dent less 2% cash discount.

5 Received check for $940 in payment of invoice no. 307 from Jennings Co.

8 Made cash sales of merchandise totaling $7,275. The cost of the merchandise sold was $4,365.00.

10. Received check for $570 in payment of invoice no. 309 from Morrow

11 Received cash refund from a supplier for damaged merchandise $695.

23. Received check for $1,105 in payment of invoice no. 310 from Jennings Co.

29 Received check for payment of account from Rose (no cash discount allowed).

 

Journalize the transactions above in a six-column cash receipts journal and cross-foot the journal.