Abby Ellen opened up Abby's Toy House. As her newly hired accountant, your task is to: 1. Journalize the transactions for the month of March 2. Total and rule the journals Chart of Accounts Assets Revenues 110 Cash 410 Toy sales 112 Accounts Receivable 412 Sales Returns and Allowances 114 Prepaid Rent 414 Sales Discount Liabilities 210 Accounts Payable Cost of Goods 510 Toy purchases 512 Purchases Return & Allowances 514 Purchase Discount Equity 310 Abby Ellen, Capital March, 20xx 1 1 1 1 8 10 14 Abby Ellen invested $17,000 in the toy store. Paid three month rent in advanced, check 2, $1,300. Abby invested an additional $42,000 in the business. Purchased merchandise from Tanya Green Company on account, $17,000, terms 2/10, n/30; invoice number 410, dated March 3. Purchases merchandise from Enrique Ayala Company on account, $21,000, terms 2/10 n/30, invoice number 415, dated March 9. Purchased merchandise from Michael Rose on account, $14,000, terms 1/15 n/60; invoice number 311, dated March 11. Returned merchandise to Michael Rose in the amount of $3,000. Abby's Toy House issued debit memo number to Michael Rose. Sold toy merchandies to Laurie Sweetwine on account, invoice number 4, $12,600; terms 2/10, n/30. Sold $10,700 toy merchandise for cash to Anibal DeJesus. Received payment from Laurie Sweetwine. Sold merchandise to John Smith on account, invoice number 5, $11,000; terms 2/10, n/30. Sold toy merchandise to Bob Jones on account, invoice number 6, $14,500, terms 2/10, n/30. John Smith returned $7,500 of the merchandise. 16 17 21 23 24 25