Abbey Joy owns Abbey’s Toy House in Halifax. As her newly hired accountant, your task is to 

a. Journalize the transactions for the month of March. 

b. Record in subsidiary ledgers and post to the general ledger as appropriate. 

c. Total, rule, and cross-add the journals. 

d. Prepare a schedule of accounts receivable and a schedule of accounts payable, as of March 31, 2019. 

The following is the partial chart of accounts for Abbey’s Toy House: 

2019 Mar. 1 Abbey Joy invested $10,000 in the toy store. 

1 Paid three months’ rent in advance, cheque No. 1, $3,000, plus HST of 13%. 

1 Purchased merchandise from Maggie Company on account, $4,000, plus HST. Invoice No. 410, dated March 1, terms 2/10, n/30. Cost of inventory was $3,000. 

4 Sold merchandise to Bill Burton on account, $1,000, plus HST. Invoice No. 1, terms 2/10, n/30. Cost of inventory was $750. 

6 Sold merchandise to Holly Co. on account, $700, plus HST. Invoice No. 2, terms 2/10, n/30. Cost of inventory was $525. 

8 Purchased merchandise from Maggie Co. on account, $1,200, plus HST. Invoice No. 415, dated March 8, terms 2/10, n/30. 8 Sold merchandise to Bill Burton on account, $600, plus HST. Invoice No. 3, terms 2/10, n/30. Cost of inventory was $450. 

11 Paid cleaning service $300, plus HST. Cheque No. 2. 

11 Paid Maggie Co. invoice No. 410, dated March 1, cheque No. 3. 

12 Holly Co. returned merchandise (before HST) to Abbey’s Toy House. Abbey issued credit memorandum No. 1 to Holly Co. for $300, plus HST. Cost of inventory returned was $225. 

12 Purchased merchandise from Adam Co. on account, $4,000, plus HST. Invoice No. 311, dated March 12, terms 1/15, n/60. 

13 Sold $1,300 (plus HST) worth of toy merchandise for cash. Cost of inventory was $975. 

15 Paid salaries, $600, cheque No. 4. 

15 Returned merchandise to Adam Co. in the amount of $1,000, plus HST. Abbey’s Toy House issued debit memorandum No. 1 to Adam Co. Cost of inventory returned was $750. 

15 Sold merchandise for cash, $4,000, plus HST. Cost of inventory was $3,000. 

15 Received payment from Holly Co., invoice No. 2 (less returned merchandise), less discount. 

18 Bill Burton paid invoice No. 1. 

18 Sold toy merchandise to Amy Rose on account, $4,000, plus HST. Invoice No. 4, terms 2/10, n/30. Cost of inventory was $3,000. 

19 Purchased delivery truck on account from Sam Katz’s Garage, $3,000, plus HST. Invoice No. 111, dated March 19 (no discount). 22 Sold to Bill Burton merchandise on account, $900, plus HST. Invoice No. 5, terms 2/10, n/30. Cost of inventory was $675. 22 Paid Adam Co. balance owed, cheque No. 5. 22 Sold toy merchandise on account to Amy Rose, $1,100, plus HST. Invoice No. 6, terms 2/10, n/30. Cost of inventory was $825. 25 Purchased toy merchandise, $600, plus HST. Cheque No. 6. 26 Purchased toy merchandise from Woody Smith on account, $4,800, plus HST. Invoice No. 211, dated March 26, terms 2/10, n/30. 26 Bill Burton paid invoice No. 5, dated March 22. 26 Amy Rose paid invoice No. 6, dated March 22. 28 Abbey invested an additional $5,000 in the business. 28 Purchased merchandise from Maggie Co., $1,400, plus HST. Invoice No. 436, dated March 26, terms 2/10, n/30. 29 Paid Maggie Co. invoice No. 436, cheque No. 7. 29 Sold merchandise to Bonnie Flow Company on account, $3,000, plus HST. Invoice No. 7, terms 2/10, n/30. Cost of inventory was $2,250.

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Assets Revenue 110 Cash 410 Toy Sales 112 Accounts Receivable 412 Sales Returns and Allowances 414 Sales Discounts 114 Prepaid Rent 115 Inventory 116 Prepaid HST 121 Delivery Truck Cost of Goods 502 Cost of Goods Sold Liabilities 210 Accounts Payable 218 HST Payable Expenses 610 Salaries Expense 612 Cleaning Expense Owner's Equity 310 A. Joy, Capital