Check my work Thompson Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. Mar. 1 Purchased $46,400 of merchandise from Taylor Industries, invoice dated March 1, terns 2/15, 1/30. Mar. 2 Sold merchandise on credit to Griffin Co., Invoice No. 854. for $50,400 (cost is $30,000). Mar. 3 Purchased $1,900 of office supplies on credit from Sanches Company, invoice dated March 3, terns 1/10 BOM 3 sold merchandise on credit to Isaac Carter, Invoice No. 855, for $14,000 (cost is $8,400). Mar. 6 Borrowed $84,000 cash from First Bank by signing a long-tern note payable. Mar. 9 Purchased $22,150 of office equipment on credit from Mitchell Supply, invoice dated March 9, terns n/10 TOM. Mar. 10 Sold merchandise on credit to Paula Parker, Invoice No. 856, for $11,200 (cost is $6,700). Mar. 12 Received payment from Griffin Co. for the March 2 sale less the discount. Mar. 13 sent Taylor Industries Check No. 416 in payment of the March 1 Invoice less the discount. Mar. 13 Received payment from Isaac Carter for the March) sale less the discount. Mar. 14 Purchased $55,000 of merchandise from the Ryan Co., Invoice dated March 13, terms 2/10, 1/30. Mar. 15 Tasued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $23,900. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $46,000 (cost is $27.600). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $3,000 of store supply on credit from Banchez Company. Invoice dated March 16, terna n/10 BOM. Mar. 17 Received a $5,000 credit memorandum from Ryan Co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,320 credit memorandum from Mitchell Supply for office equipment received on March and returned for credit. Mar. 20 Received payment from Paula Parker for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (coat is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal 999 Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Cash Rec Cash Disb Requirement Purchases Trial Balance Journal Ledger Sales Journal Journal Journal Journal Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. General Ledger Account Cash Accounts receivable Debit Credit No. Debit Credit No. Date Mar 01 Balance 14,600 Date Mar 01 Balance 58,000 Inventory Debit J. Thompson, Capital Debit Credit No. Credit No. Date Mar 01 Date Mar 01 Balance 23,000 Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Cash Rec Cash Disb Purchases Requirement Journal Ledger Trial Balance Journal Journal Journal Sales Journal The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance (indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Thompson Company Trial Balance March 31, 2017 Account Title Credit Cash $ Accounts receivable Inventory J. Thompson, Capital Total Debit 14,600 58,000 23,000 95,600 95,600 s 95,600 $ Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Purchases Journal Sales Journal General General Cash Rec Requirement Trial Balance Cash Disb Journal Ledger Journal Journal Enter all transactions that are properly included in the Cash Receipts Journal. CASH RECEIPTS JOURNAL Date Account credited Cash Dr. Sales discount Dr. Accounts receivable Cr. Sales Cr. Other Accts. Cr. Cost of goods sold Dr. Inventory Cr. Mar. 31 Totals 1 Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Sales Journal Requirement General General Cash Rec Trial Balance Cash Disb Journal Purchases Ledger Journal Journal Journal Enter all transactions that are properly included in the Cash Disbursements Journal. Skipped CASH DISBURSEMENTS JOURNAL Book Date Check NO Payee Account debited Cash Cr Print Inventory Cr. Other accounts Dr. Accounts payable Dr Mar 31 Totals 1 $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24.800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Enter all transactions that are properly included in the Purchases Journal. kloped PURCHASES JOURNAL Invoice Date Terms Dato eBook Account Accounts payable Cr. Other Inventory Dr. Office supplies Dr. accounts Dr. Print Mar. 31 Totals The term project - The General Ledger Assignment Saved Help 1 $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,00). Sales Journal 35 points Skipped General General Requirement Cash Disb Cash Rec Purchases Journal Trial Balance Ledger Journal Journal Journal Enter all transactions that are properly included in the Sales Journal SALES JOURNAL Date Account debited Invoice number Accounts receivable Dr. Cost of goods sold Dr. Sales Cr. Inventory Cr Book Print Mar. 31 Totals (Purchases Journal 16 $5,000). 31 Issued check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Cash Rec Cash Disb Requirement Journal Trial Balance Purchases Ledger Journal Journal Journal Sales Journal 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 properly included in this special Journal. Sales Journal tab - Enter the transactions that are properly included in this special journal. Reguireman General Journal > n/30). aped ook int Mar. 1 Purchased $46,400 of merchandise from Taylor Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Griffin Co., Invoice No. 854, for $50, 400 (cost is $30,000). Mar. 3 Purchased $1,900 of office supplies on credit from Sanchez Company, invoice dated March 3, terms n/10 EOM. Mar. 3 Sold merchandise on credit to Isaac Carter, Invoice No. 855, for $14,000 (cost is $8,400). Mar. 6 Borrowed $84,000 cash from First Bank by signing a long-term note payable. Mar. 9 Purchased $22,150 of office equipment on credit from Mitchell Supply, invoice dated March 9, terms n/10 EOM. Mar. 10 Sold merchandise on credit to Paula Parker, Invoice No. 856, for $11,200 (cost is $6,700). Mar. 12 Received payment from Griffin Co. for the March 2 sale less the discount. Mar. 13 Sent Taylor Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Isaac Carter for the March 3 sale less the discount. Mar. 14 Purchased $55,000 of merchandise from the Ryan Co., Invoice dated March 13, terms 2/10, n/30. Mar. 15 Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $23,900. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $46,000 (cost is $27, 600). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $3,000 of store supplies on credit from Sanchez Company, invoice dated March 16, terms n/10 BOM. Mar. 17 Received a $5,000 credit memorandum from Ryan Co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,320 credit memorandum from Mitchell Supply for office equipment received on March 9 and returned for credit. Mar. 20 Received payment from Paula Parker for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the cheek and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. Help Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. General Ledger Account Cash No. Debit Accounts receivable Debit Credit Date Mar 01 Credit Balance 14,600 No Date Mar 01 Balance 58,000 Inventory Debit J. Thompson, Capital Debit Credit No. Date Mar 01 Credit No. Balance 23,000 Date Mar 01 Balance 95,600 Prey 1 of 1 !!! Next Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). od General Requirement Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal OK The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Thompson Company Trial Balance March 31, 2017 Account Title Credit $ Cash Accounts receivable Inventory J. Thompson, Capital Total Debit 14,600 58.000 23,000 95.600 95.600 $ 95,600 $ Prov 1 of 1 Next Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8.400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Ded Purchases Journal Sales Journal Gok Requirement General General Cash Rec Cash Disb Journal Trial Balance Ledger Journal Journal Enter all transactions that are properly included in the Cash Receipts Journal. CASH RECEIPTS JOURNAL Date Account credited Cash Dr. Sales discount Accounts Sales Cr. Dr. receivable Cr Other Acets Cr Cost of goods sold Dr. Inventory Cr Mar. 31 Totals (Trial Balance Cash Disb Journal > Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Requirement Cash Rec Cash Disb Purchases Journal Ledger Trial Balance Journal Sales Journal Journal Journal Enter all transactions that are properly included in the Cash Disbursements Journal. CASH DISBURSEMENTS JOURNAL Check Date Payee Account debited No Cash Cr Other accounts Accounts Inventory C Dr. payable Dr. Mar 31 Totals Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). od Purchases Journal Sales Journal k General Requirement General Cash Rec Cash Disb Journal Trial Balance Ledger Journal Journal Enter all transactions that are properly included in the Purchases Journal. PURCHASES JOURNAL Date Account Invoice Date Terms Accounts payablo Cr. Inventory Dr. Office supplies Dr. Other accounts Dr. Mar 31 Totals Cash Disb Journal Sales Journal > 1 Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). its kipped Sales Journal eBook General General Cash Rec Requirement Purchases Cash Disb Trial Balance Journal Ledger Journal Journal Journal Enter all transactions that are properly included in the Sales Journal. SALES JOURNAL Date Account debited Invoice number Accounts receivable Dr. Cost of goods sold Dr. Sales C. Inventory Cr Print Mar. 31 Totals Check my work Thompson Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. Mar. 1 Purchased $46,400 of merchandise from Taylor Industries, invoice dated March 1, terns 2/15, 1/30. Mar. 2 Sold merchandise on credit to Griffin Co., Invoice No. 854. for $50,400 (cost is $30,000). Mar. 3 Purchased $1,900 of office supplies on credit from Sanches Company, invoice dated March 3, terns 1/10 BOM 3 sold merchandise on credit to Isaac Carter, Invoice No. 855, for $14,000 (cost is $8,400). Mar. 6 Borrowed $84,000 cash from First Bank by signing a long-tern note payable. Mar. 9 Purchased $22,150 of office equipment on credit from Mitchell Supply, invoice dated March 9, terns n/10 TOM. Mar. 10 Sold merchandise on credit to Paula Parker, Invoice No. 856, for $11,200 (cost is $6,700). Mar. 12 Received payment from Griffin Co. for the March 2 sale less the discount. Mar. 13 sent Taylor Industries Check No. 416 in payment of the March 1 Invoice less the discount. Mar. 13 Received payment from Isaac Carter for the March) sale less the discount. Mar. 14 Purchased $55,000 of merchandise from the Ryan Co., Invoice dated March 13, terms 2/10, 1/30. Mar. 15 Tasued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $23,900. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $46,000 (cost is $27.600). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $3,000 of store supply on credit from Banchez Company. Invoice dated March 16, terna n/10 BOM. Mar. 17 Received a $5,000 credit memorandum from Ryan Co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,320 credit memorandum from Mitchell Supply for office equipment received on March and returned for credit. Mar. 20 Received payment from Paula Parker for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (coat is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal 999 Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Cash Rec Cash Disb Requirement Purchases Trial Balance Journal Ledger Sales Journal Journal Journal Journal Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. General Ledger Account Cash Accounts receivable Debit Credit No. Debit Credit No. Date Mar 01 Balance 14,600 Date Mar 01 Balance 58,000 Inventory Debit J. Thompson, Capital Debit Credit No. Credit No. Date Mar 01 Date Mar 01 Balance 23,000 Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Cash Rec Cash Disb Purchases Requirement Journal Ledger Trial Balance Journal Journal Journal Sales Journal The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance (indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Thompson Company Trial Balance March 31, 2017 Account Title Credit Cash $ Accounts receivable Inventory J. Thompson, Capital Total Debit 14,600 58,000 23,000 95,600 95,600 s 95,600 $ Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Purchases Journal Sales Journal General General Cash Rec Requirement Trial Balance Cash Disb Journal Ledger Journal Journal Enter all transactions that are properly included in the Cash Receipts Journal. CASH RECEIPTS JOURNAL Date Account credited Cash Dr. Sales discount Dr. Accounts receivable Cr. Sales Cr. Other Accts. Cr. Cost of goods sold Dr. Inventory Cr. Mar. 31 Totals 1 Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Sales Journal Requirement General General Cash Rec Trial Balance Cash Disb Journal Purchases Ledger Journal Journal Journal Enter all transactions that are properly included in the Cash Disbursements Journal. Skipped CASH DISBURSEMENTS JOURNAL Book Date Check NO Payee Account debited Cash Cr Print Inventory Cr. Other accounts Dr. Accounts payable Dr Mar 31 Totals 1 $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24.800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Enter all transactions that are properly included in the Purchases Journal. kloped PURCHASES JOURNAL Invoice Date Terms Dato eBook Account Accounts payable Cr. Other Inventory Dr. Office supplies Dr. accounts Dr. Print Mar. 31 Totals The term project - The General Ledger Assignment Saved Help 1 $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,00). Sales Journal 35 points Skipped General General Requirement Cash Disb Cash Rec Purchases Journal Trial Balance Ledger Journal Journal Journal Enter all transactions that are properly included in the Sales Journal SALES JOURNAL Date Account debited Invoice number Accounts receivable Dr. Cost of goods sold Dr. Sales Cr. Inventory Cr Book Print Mar. 31 Totals (Purchases Journal 16 $5,000). 31 Issued check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Cash Rec Cash Disb Requirement Journal Trial Balance Purchases Ledger Journal Journal Journal Sales Journal 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 properly included in this special Journal. Sales Journal tab - Enter the transactions that are properly included in this special journal. Reguireman General Journal > n/30). aped ook int Mar. 1 Purchased $46,400 of merchandise from Taylor Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Griffin Co., Invoice No. 854, for $50, 400 (cost is $30,000). Mar. 3 Purchased $1,900 of office supplies on credit from Sanchez Company, invoice dated March 3, terms n/10 EOM. Mar. 3 Sold merchandise on credit to Isaac Carter, Invoice No. 855, for $14,000 (cost is $8,400). Mar. 6 Borrowed $84,000 cash from First Bank by signing a long-term note payable. Mar. 9 Purchased $22,150 of office equipment on credit from Mitchell Supply, invoice dated March 9, terms n/10 EOM. Mar. 10 Sold merchandise on credit to Paula Parker, Invoice No. 856, for $11,200 (cost is $6,700). Mar. 12 Received payment from Griffin Co. for the March 2 sale less the discount. Mar. 13 Sent Taylor Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Isaac Carter for the March 3 sale less the discount. Mar. 14 Purchased $55,000 of merchandise from the Ryan Co., Invoice dated March 13, terms 2/10, n/30. Mar. 15 Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $23,900. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $46,000 (cost is $27, 600). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $3,000 of store supplies on credit from Sanchez Company, invoice dated March 16, terms n/10 BOM. Mar. 17 Received a $5,000 credit memorandum from Ryan Co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,320 credit memorandum from Mitchell Supply for office equipment received on March 9 and returned for credit. Mar. 20 Received payment from Paula Parker for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the cheek and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. Help Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. General Ledger Account Cash No. Debit Accounts receivable Debit Credit Date Mar 01 Credit Balance 14,600 No Date Mar 01 Balance 58,000 Inventory Debit J. Thompson, Capital Debit Credit No. Date Mar 01 Credit No. Balance 23,000 Date Mar 01 Balance 95,600 Prey 1 of 1 !!! Next Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). od General Requirement Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal OK The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Thompson Company Trial Balance March 31, 2017 Account Title Credit $ Cash Accounts receivable Inventory J. Thompson, Capital Total Debit 14,600 58.000 23,000 95.600 95.600 $ 95,600 $ Prov 1 of 1 Next Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8.400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). Ded Purchases Journal Sales Journal Gok Requirement General General Cash Rec Cash Disb Journal Trial Balance Ledger Journal Journal Enter all transactions that are properly included in the Cash Receipts Journal. CASH RECEIPTS JOURNAL Date Account credited Cash Dr. Sales discount Accounts Sales Cr. Dr. receivable Cr Other Acets Cr Cost of goods sold Dr. Inventory Cr Mar. 31 Totals (Trial Balance Cash Disb Journal > Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). General General Requirement Cash Rec Cash Disb Purchases Journal Ledger Trial Balance Journal Sales Journal Journal Journal Enter all transactions that are properly included in the Cash Disbursements Journal. CASH DISBURSEMENTS JOURNAL Check Date Payee Account debited No Cash Cr Other accounts Accounts Inventory C Dr. payable Dr. Mar 31 Totals Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). od Purchases Journal Sales Journal k General Requirement General Cash Rec Cash Disb Journal Trial Balance Ledger Journal Journal Enter all transactions that are properly included in the Purchases Journal. PURCHASES JOURNAL Date Account Invoice Date Terms Accounts payablo Cr. Inventory Dr. Office supplies Dr. Other accounts Dr. Mar 31 Totals Cash Disb Journal Sales Journal > 1 Mar. 23 Issued Check No. 418 to Ryan Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Paula Parker, Invoice No. 857, for $25,000 (cost is $15,000). Mar. 28 Sold merchandise on credit to Isaac Carter, Invoice No. 858, for $8,400 (cost is $5,000). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $41,400 (cost is $24,800). its kipped Sales Journal eBook General General Cash Rec Requirement Purchases Cash Disb Trial Balance Journal Ledger Journal Journal Journal Enter all transactions that are properly included in the Sales Journal. SALES JOURNAL Date Account debited Invoice number Accounts receivable Dr. Cost of goods sold Dr. Sales C. Inventory Cr Print Mar. 31 Totals