Sasser Company Uses a Sales Journal, a Cash Receipts Journal

question 1

Essay

Sasser Company uses a sales journal, a cash receipts journal, and a general journal to record transactions with its customers. Record the following transactions in the appropriate journals. The cost of all merchandise sold was 70% of the sales price.
July 2 Sold merchandise for $21,000 to B. Stine on account. Credit terms 2/10, n/30. Sales invoice No. 100.
July 5 Received a check for $800 from R. Hyatt in payment of his account.
July 8 Sold merchandise to F. Wendel for $900 cash.
July 10 Received a check in payment of Sales invoice No. 100 from B. Stine minus the 2% discount.
July 15 Sold merchandise for $9,000 to J. Nott on account. Credit terms 2/10, n/30. Sales invoice No. 101.
July 18 Borrowed $25,000 cash from United Bank signing a 6-month, 10% note.
July 20 Sold merchandise for $18,000 to C. Karn on account. Credit terms 2/10, n/30. Sales invoice No. 102.
July 25 Issued a credit memorandum for $600 to C. Karn as an allowance for damaged merchandise previously sold on account.
July 31 Received a check from J. Nott for $5,000 as payment on account.
SASSER COMPANY
Sales Journal
S1
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Invoice Acct. Rec. Dr. COGS Dr.
Date Account Debited No. Ref. Sales Rev. Cr. Inventory Cr.
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SASSER COMPANY
General Journal
G1
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Date Explanations Ref. Debit Credit
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SASSER COMPANY
Cash Receipts Journal
CR1
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Sales Accounts Sales Other COGS Dr.
Accounts Cash Discounts Rec. Rev. Accounts Inven. Cr.
Date Credited Ref. Dr. Dr. Cr. Cr. Cr.
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Identify the roles of various proteins in blood clotting and vessel repair.

Understand the sequential events in the blood coagulation process.

Grasp the concepts of the intrinsic, extrinsic, and common pathways of coagulation.

Recognize the role of vitamins and ions in blood coagulation.

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Definitions:

Individual

Pertains to a single human being as distinct from a group, class, or family.

Kohlberg

Lawrence Kohlberg proposed a theory of moral development consisting of six stages within three levels, indicating how individuals' abilities to judge right from wrong evolve through their lifetime.

Moral Development

The process through which individuals evolve in their understanding of ethics and morality, shaping their behavior and attitudes towards what is right or wrong.

Ethical Arguments

Discussions or considerations regarding what is morally right or wrong, often reflecting societal norms or personal values.