R. Santiago Co. uses special journals and a general journal. The following transactions occurred during May 2014.
| May 1 |
|
R. Santiago invested $40,000 cash in the business. |
| 2 |
|
Sold merchandise to Lawrie Co. for $6,300 cash. The cost of the merchandise sold was $4,200. |
| 3 |
|
Purchased merchandise for $7,700 from J. Moskos using check no. 101. |
| 14 |
|
Paid salary to H. Rivera $700 by issuing check no. 102. |
| 16 |
|
Sold merchandise on account to K. Stanton for $900, terms n/30. The cost of the merchandise sold was $630. |
| 22 |
|
A check of $9,000 is received from M. Mangini in full for invoice 101; no discount given. |
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