Answer:
Explanation:
The journal entries are shown below:
May 1
Cash A/c Dr $6,300
    To Sales revenue A/c $6,300
(Being the cash sales is recorded)
May 1
Cost of goods sold A/c Dr $3,700
    To Merchandise inventory A/c $3,700
(Being the cost of the inventory is recorded)
May 5
Merchandise inventory A/c Dr $2,000
    To Account payable A/c $2,000
(Being the merchandise on account is recorded)
May 9
Account receivable A/c Dr $3,300
        To Sales revenue $3,300
(Being the goods are sold on credit)
May 9
Cost of goods sold A/c Dr $1,900
      To Merchandise inventory A/c $1,900
(Being the merchandise of inventory is recorded)
May 13
Sales salaries expense A/c Dr $900
Office salaries expense A/c Dr $600
   To Cash A/c $1,500
(Being the expenses are recorded)
May 14
Account payable A/c Dr $2,000
  To Cash A/c $2,000
(Being the amount is paid)
May 18
Equipment A/c Dr $8,000
   To Cash A/c $2,000
   To Account payable A/c $6,000
(Being equipment is purchased on account and on cash is recorded)
May 21
Inventory A/c Dr $600
  To Cash A/c $600
(Being the purchase of inventory is recorded for cash)
May 26
Cash A/c Dr $2,600
  To Land A/c $1,900
  To Gain on sale of land A/c $700
(Being the land is sold)
The correct journal entries and their effects into the journal books of Mead Company into the different ledgers are as attached to the file with this query. Please refer.
Journal entries are the most accurate and effective way to record the business transaction in the books in a systematic and chronological order as they occur.
The journal entries have a dual sided effect and effect both the credit and debit side of the event of transactions that take place. The records and adjusted entries are as mentioned in the attachment below.
Hence, the adjustments that took place in the books of Mead Company are as given.
To know more about journal entries, click the link below.
https://brainly.com/question/17439126
