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. $$\begin{array}{l}\text { Schedule of A ccounts Receivab le }\\\begin{array} { | l | l | l | } \hline ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~& ~~~~~~~~~~~~&~~~~~~~~~~ \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline\end{array}\end{array}$$

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Definitions:

Angler

A person who fishes with a rod and line, typically for recreation.

Bass

A low-frequency tone or sounds, often associated with music, or refers to certain types of fish found in fresh and salt water.

Champion

A person who excels in a specific field or activity, often serving as a defender or promoter of a cause.

Threshold

The point at which a stimulus is strong enough to detect or produce a response.