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

question 87

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. Prepare a schedule for accounts receivable. $$\begin{array}{l}\text { Schedule of A ccounts Receivab le }\\\begin{array} { | l | l | l | } \hline ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~& ~~~~~~~~~~~~&~~~~~~~~~~ \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline\end{array}\end{array}$$

---

Definitions:

Power Output

The total amount of power, usually measured in watts, that a device can produce or supply.

Induced Voltage

The voltage generated in a conductor or coil due to a changing magnetic field according to Faraday's law of electromagnetic induction.

Field Discharge Resistor

A resistor used to safely discharge stored energy from the field winding of a motor or generator during shutdown.

Parallel

Referring to lines, paths, or components side by side that do not intersect or converge, often used in electrical circuits to indicate a specific type of connection.