Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. July 1 Purchased $19,500 of merchandise on credit from Hector Company, terms n/15.
July 4 Sold merchandise costing $820 to C. Paul for $930 cash.
July 8 Purchased $620 of office supplies from Zhang Company on credit, terms n/30.
July 15 Paid Hector $19,500 cash for the merchandise purchased on July 1.
July 21 Purchased $1,035 of store supplies on credit from Staples, terms n/30.
July 22 Sold merchandise costing $2,500 to MicroTran for $3,000 on credit, terms n/30.
July 23 Purchased office supplies from Depot for $355 cash.
July 25 Purchased $5,000 of merchandise on credit from Alfredo Company, terms n/30.
July 27 Paid employee salaries of $2,150 in cash.

A. determine the amount of retained earnings as of january 1, 2018. b. after looking at the amount of retained earnings, the chief executive officer (ceo) wants to pay a $1,000 cash dividend to the stockholders. can the company pay this dividend? c. as of january 1, 2018, what percentage of the assets were acquired from creditors? d. as of january 1, 2018, what percentage of the assets were acquired from investors? e. as of january 1, 2018, what percentage of the assets were acquired from retained earnings? f. create an accounting equation using percentages instead of dollar amounts on the right side of the equation. g. during 2018, carter company earned cash revenue of $1,800, paid cash expenses of $1,200, and paid a cash dividend of $500. (hint: it is to record these events under an accounting equation before preparing the statements.) g-1. prepare an income statement dated december 31, 2018. g-2. prepare a statement of changes in stockholders’ equity dated december 31, 2018. g-3. prepare a balance sheet dated december 31, 2018. g-4. prepare a statement of cash flows dated december 31, 2018. j. what is the balance in the revenue account on january 1, 2019?