The Sun Company Completed the Following Sales and Cash Receipts

The Sun Company completed the following sales and cash receipts transactions during the first week of December.The Sun Company uses the perpetual inventory system.
SHAPE \* MERGEFORMAT
$$\begin{array}{l}\text { Sales Journal }\\\begin{array} { | l | l | l | l | l | l |} \hline \text { Date } & \text { Account Debited } & \begin{array} { l } \text { Invoice } \\\text { Number }\end{array} & \text { PR } & \begin{array} { l } \text { Accounts Receivable Dr. } \\\text { Sales Cr. }\end{array} & \begin{array} { l } \text { Cost of Goods Sold Dr. } \\\text { Inventory Cr. }\end{array} \\\hline & & & & & \\\hline & & & & & \\\hline & & & & & \\\hline & & & & & \\\hline\end{array}\end{array}$$
$$\begin{array}{ll}\text {Dec. 1.}&\text {Sold merchandise for \$ 6,700 on credit to the Two Rivers Co., terms 2 / 10,} \mathrm{n} / 30 .\\&\text {Invoice no. 1455. Cost of the merchandise sold is \$ 3,600 .}\\\text {Dec. 1}&\text {Sold merchandise for \$ 3,400 on credit to the Berlin Co., terms 2 / 10, n / 30 . Invoice}\\&\text {no. 1456 . Cost of the merchandise sold is \$ 1,800 .}\\\text {Dec 2}&\text {Sold merchandise for \$ 590 for cash to the Ellison Co. Invoice no. 1457. Cost of}\\&\text {the merchandise sold is \$ 300 .}\\\text {Dec. 3}&\text {Borrowed \$ 10,000 from Custer Bank on a long-term note payable.}\\\text {Dec. 3}&\text {Sold merchandise for \$ 7,200 on credit to the Amherst Co., terms 2 / 10,} \mathrm{n} / 30 .\\&\text {Invoice no. 1458. Cost of the merchandise sold is \$ 4,000 .}\\\text {Dec. 5}&\text {Received the amount due from the Two Rivers Co. from the sale on December 1.}\\\text {Dec. 6}&\text {Sold merchandise on credit for \$ 950 to the Waupaca Co., terms 2 / 10,} \mathrm{n} / 30 . \text{Invoice}\\&\text {no. 1459 . Cost of the merchandise is \$ 500 .}\\\text {Dec. 6}&\text {Received the amount due from the Berlin Co. from the sale on December 1 .}\end{array}$$

a.Use the sales journal and the cash receipts journal to record these transactions.
b.Prepare a schedule of accounts receivable.There were no account receivables at December 1.
$$\begin{array}{l}\text { Cash Receipts Journal }\\\begin{array} { |l|l|l|l|l|l|l|l|l|l| } \hline \text { Date } & \begin{array} { l } \text { Account } \\\text { Credited }\end{array} & \text { Explanation } &\text { PR } & \begin{array} { l } \text { Cash } \\\text { Dr. }\end{array} & \begin{array} { l } \text { Sales } \\\text { Discount }\\\text { Cr. }\end{array} & \begin{array} { l } \text { Accounts } \\\text { Receivable } \\\text { Dr. }\end{array} &\begin{array} { l } \text { Sales } \\\text { Cr. }\end{array} & \begin{array} { l } \text { Other } \\\text { Accounts } \\\text { Cr. }&\end{array} & \begin{array} { l } \text { Cost of } \\\text { Goods } \\\text { Sold Dr. }\\\text { Inventory }\\\text { Dr. }\end{array} \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline\end{array}\end{array}$$