13 @ Stved Lee Company completes these transactions and events during March of the current year (terms for all its credit sales are 20. n/30). 1 Purchased 543,00 of merchandise from Allen Industries, teres 2/15, /30. Man. 2 Sold merchandise on credit to Wright Co., Invoice No. 854, for $19,200 (cost is $12,000) Mar 3 Purchased $1.500 of office supplies on credit from Mitchell Company, terms /30. Mar Sold warchandise on credit to Tony Turner, Invoice No. 355, for $12,000 (costs 39,200) Mar Borrowed $85,000 cash frontational Bank by signing a long term note payable Mar Purchased $22,050 of office equipent on credit from Parker Supply, terus 11/30 Har 10 Sold merchandise on credit to Robert King. Invoice No 156, for $9,600 (cost is $5,000) Mar. 12 Received payment from Wright Co. for the Harch ale less the discount of $384. Mar. 13 Sent Allen Industries Check No.416 in payment of the March 1 invoice less the discount of $1176 Mar 13 leived payment from Tony Turner for the March 3 sale less the discount of $240. Mar. 14 Purchased 554,200 of merchandise from the Thompson C, teras 2/10, 1/30. Mar 15 Issued Checko 417 for $13,700, payee is Payroll, in payment of sales salaries expense for the first half of the month Mar 15 Cash sales for the first half of the month are 530,000 (cost is $21,000). These cash sales are recorded in the cach receipts journal en March 15 Mar. 16 Purchased $2,000 of store supplies on credit from Mitchell Company, teras / Mer 17 Heturned $3,300 of unsatisfactory merchandise purchased on March 14 to Thompson Co. Le reduces accounts payable by that mount Har 19 Mature 53,300 of office equipment purchased on March 9 to Parker Supply. two reduces accounts payable by that Har 20 celed payment from Robert King for the sale of March 10 less the discount of $192. Mar 23 Issund Check No. 415 to Thompson Co. in payment of the March 14 purchase less the March 17 return and the discount of 500 Mar. 27. Saldarchand credit to Robert King Invoice 657, for 121,000 (costs $12,00) Mae 26 Sold marchandise on credit to Tony Turner, Invoice to Sa, for $7,200 (Coutis 14,300) Mar 31 Issue Check 419 for $15,700, payee is Payroll, In payment of sales salaries expense for the last half of the month Har 31 Cash sales for the last half of the saith are $32,400 (cast is $19,400). These cash sales are recorded in the cash receita journal on March 31. General Tral Balance Cader Cash Out Purchases Sales Journal Proy 1 of 1 Saved r. 23 Issued Check No. 418 to Thompson Co. in payment of the March 14 purchase less the March 17 return and the discount of $ Br. 27 Sold merchandise on credit to Robert King, Invoice No. 857, for $21,eee teost is $12,600) nr. 28 Sold merchandise on credit to Tony Turner, Invoice No. 858, for $7,200 (cost is $4,300) ar. 31 Issued Check No. 419 for $18,700, payee is Payroll, in payment of sales salaries expense for the last half of the month ar 31 Cash sales for the last half of the month are $32,400 (cost is $19,400). These cash sales are recorded in the cash recei journal on March 31. Requirement General Toumal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Joumal General Journal tab - Each transaction is recorded in either a special journal, or directly in the general journal. If a transaction is to be recorded in a special Journal, select "Entered in special journal in the first account field. Otherwise, prepare the general journal entry. Prepare a journal entry for each of the special Journals at month-end General Ledger and Trial Balance tabs - Journal entries are posted automatically to the general ledger and trial balance. Cash Receipts Journal tab - Enter the transactions that are properly included in this special Journal. Cash Disbursements Journal tab - Enter the transactions that are properly included in this special Journal Purchases Journal tab - Enter the transactions that are erly included in this special journal. Sales Journal tab - Enter the transactions that are properly included in this special Journal General Journal > Proy 1 of 1 Next > 13 @ Stved Lee Company completes these transactions and events during March of the current year (terms for all its credit sales are 20. n/30). 1 Purchased 543,00 of merchandise from Allen Industries, teres 2/15, /30. Man. 2 Sold merchandise on credit to Wright Co., Invoice No. 854, for $19,200 (cost is $12,000) Mar 3 Purchased $1.500 of office supplies on credit from Mitchell Company, terms /30. Mar Sold warchandise on credit to Tony Turner, Invoice No. 355, for $12,000 (costs 39,200) Mar Borrowed $85,000 cash frontational Bank by signing a long term note payable Mar Purchased $22,050 of office equipent on credit from Parker Supply, terus 11/30 Har 10 Sold merchandise on credit to Robert King. Invoice No 156, for $9,600 (cost is $5,000) Mar. 12 Received payment from Wright Co. for the Harch ale less the discount of $384. Mar. 13 Sent Allen Industries Check No.416 in payment of the March 1 invoice less the discount of $1176 Mar 13 leived payment from Tony Turner for the March 3 sale less the discount of $240. Mar. 14 Purchased 554,200 of merchandise from the Thompson C, teras 2/10, 1/30. Mar 15 Issued Checko 417 for $13,700, payee is Payroll, in payment of sales salaries expense for the first half of the month Mar 15 Cash sales for the first half of the month are 530,000 (cost is $21,000). These cash sales are recorded in the cach receipts journal en March 15 Mar. 16 Purchased $2,000 of store supplies on credit from Mitchell Company, teras / Mer 17 Heturned $3,300 of unsatisfactory merchandise purchased on March 14 to Thompson Co. Le reduces accounts payable by that mount Har 19 Mature 53,300 of office equipment purchased on March 9 to Parker Supply. two reduces accounts payable by that Har 20 celed payment from Robert King for the sale of March 10 less the discount of $192. Mar 23 Issund Check No. 415 to Thompson Co. in payment of the March 14 purchase less the March 17 return and the discount of 500 Mar. 27. Saldarchand credit to Robert King Invoice 657, for 121,000 (costs $12,00) Mae 26 Sold marchandise on credit to Tony Turner, Invoice to Sa, for $7,200 (Coutis 14,300) Mar 31 Issue Check 419 for $15,700, payee is Payroll, In payment of sales salaries expense for the last half of the month Har 31 Cash sales for the last half of the saith are $32,400 (cast is $19,400). These cash sales are recorded in the cash receita journal on March 31. General Tral Balance Cader Cash Out Purchases Sales Journal Proy 1 of 1 Saved r. 23 Issued Check No. 418 to Thompson Co. in payment of the March 14 purchase less the March 17 return and the discount of $ Br. 27 Sold merchandise on credit to Robert King, Invoice No. 857, for $21,eee teost is $12,600) nr. 28 Sold merchandise on credit to Tony Turner, Invoice No. 858, for $7,200 (cost is $4,300) ar. 31 Issued Check No. 419 for $18,700, payee is Payroll, in payment of sales salaries expense for the last half of the month ar 31 Cash sales for the last half of the month are $32,400 (cost is $19,400). These cash sales are recorded in the cash recei journal on March 31. Requirement General Toumal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Joumal General Journal tab - Each transaction is recorded in either a special journal, or directly in the general journal. If a transaction is to be recorded in a special Journal, select "Entered in special journal in the first account field. Otherwise, prepare the general journal entry. Prepare a journal entry for each of the special Journals at month-end General Ledger and Trial Balance tabs - Journal entries are posted automatically to the general ledger and trial balance. Cash Receipts Journal tab - Enter the transactions that are properly included in this special Journal. Cash Disbursements Journal tab - Enter the transactions that are properly included in this special Journal Purchases Journal tab - Enter the transactions that are erly included in this special journal. Sales Journal tab - Enter the transactions that are properly included in this special Journal General Journal > Proy 1 of 1 Next >