Table 7-9
the Following Transactions Occurred During the Month of July

question 91

Essay

Table 7-9
The following transactions occurred during the month of July for Lancer Company. $\begin{array}{llcc} \text {July 1 } &\text {Sold Merchandise on credit for \( \$ 3,100 \) to Chris Co, \( 2 / 10, \mathrm{n} 30 \), Invoice 316 . } \\ \text { 7 } & \text { Sold merchandise on credit to D. James for \( \$ 900,2 / 20 \), n 30 , Invoice 317 . }\\ \text {8 } &\text {Borrowed \( \$ 2,750 \) by giving a note to the bank. }\\ \text {13 } &\text {Owner invested an additional \( \$ 3,500 \) cash into the business. }\\ \text { 18 } &\text { Sold merchandise to \( M \). Garnett for \( \$ 230 \) cash.}\\ \text { 22} &\text { Sold merchandise to \( \mathrm{ABC} \) Co. \( \$ 2,100 \), Invoice \( 318 \mathrm{n} / 30 \). }\\ \text {27 } & \text { Received payment from D. James for the July 7 purchase. }\\ \text {30 } &\text {Paid salaries of \( \$ 1,600 \). }\\\end{array}$


-Refer to Table 7-9. Record transactions in the sales and cash receipts journals only (foot and cross-foot journals). $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ $\text { Sales Journal}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Page 2}$
$\begin{array}{c|c|l|l|c|}\hline \text { Date } & \begin{array}{c}\text { Account } \\\text { Debited }\end{array} & \text { Invoice Number } & \text { PR } & \begin{array}{c}\text { Accounts Receivab le Dr. } \\\text { Sales Cr. }\end{array} \\\hline & & & & \\\hline & & & &0 \\\hline & & & & \\\hline & & & & \\\hline\end{array}$

$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Cash Receipts Journal }$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Page 2}$
$\begin{array}{c|c|c|c|c|c|c|c|c|}\hline \text { Date } & \begin{array}{c}\text { Account } \\\text { Credited }\end{array} & \text { PR } & \text { Explanation } & \begin{array}{c}\text { Cash } \\\text { Dr. }\end{array} & \begin{array}{c}\text { Sales } \\\text { Disc. } \\\text { Dr. }\end{array} & \begin{array}{c}\text { Accts. } \\\text { Rec. } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Sales } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Other } \\\text { Accts. } \\\text { Cr. }\end{array} \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & &\\\hline \end{array}$

---

Definitions:

Worker Representation

The participation of employees in decision-making processes and governance within an organization, often through unions or employee councils.

Fortress Unionism

A strategy where labor unions focus on protecting the rights, wages, and benefits of their current members, often with less emphasis on recruiting new members or organizing new sectors.

Solidarity Unionism

A labor movement approach that emphasizes direct action and the collective power of workers, rather than formal union structures, to achieve common goals.

Bargaining Power

The relative capacity of one party to exert influence over another in negotiations, such as in labor discussions between employers and unions.