Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 3/10, n/30). Mar. 1 2 Purchased $39,000 of merchandise from Van Industries, terms 3/15, n/30. Sold merchandise on credit to Min Cho, Invoice No. 854, for $15,600 (cost is $7,800). 3 (a) Purchased $1,170 of office supplies on credit from Gabel Company, teres n/30. 6 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $7,800 (cost is $3,900). Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. Purchased $19,500 of office equipment on credit from Spell Supply, teres n/30. 9 10 12 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,900 (cost is $1,950). Received payment from Min Cho for the March 2 sale less the discount of $468. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount of $1,170. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount of $234. 14 Purchased $35,000 of merchandise from the CD Company, terms 3/10, n/30. 15 (a) Issued Check No. 417 for $14,800, payee is Payroll, in payment of sales salaries expense for the first half of the month, 15 (b) Cash sales for the first half of the month are $62,400 (cost is $49,920). These cash sales are recorded in the cash receipts journal on March 15. 175 16 17 19 232 20 23 27 28 Purchased $1,690 of store supplies on credit from Gabel Company, teras n/30. Returned $3,500 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. Returned $585 of office equipment purchased on March 9 to Spell Supply. Church reduces accounts payable by that amount. Received payment from Jovita Albany for the sale of March 10 less the discount of $117. Issued Check No. 418 to CD Company in payment of the March 14 purchase less the March 17 return and the $945 discount. Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $11,700 (cost is $4,680). Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,680 (cost is $1,872). 31 (a) Issued Check No. 419 for $14,800, payee is Payroll, in payment of sales salaries expense for the last half of the month. 31 (b) Cash sales for the last half of the month are $68,640 (cost is $41,184). These cash sales are recorded in the cash receipts journal on March 31. 31 (c) Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should i I have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the month-end postings. Required information Req 2A Req 28 Req 2C Req 2D Req 2E Enter the transactions in a cash receipts journal. CASH RECEIPTS JOURNAL Date Account Credited Cash Dr. Sales Accounts Discount Dr. Receivable Cr. Sales Cr. Other Accts. Cr. Mar. 06 Long-term note payable Mar 12 Mar 13 Linda Witt Mar 15 Sales Mar 20 Jovita Albany Mar 31 Sales Mar 31 Totals $ 0 $ Cost of Goods Sold Dr. Inventory Cr 05 0 $ 0 $ 0 $ 0 Req 2A Req 28 Req 2C Req 2D Req 2E Enter the transactions in a cash payments journal. CASH PAYMENTS JOURNAL Other Date Ck.No. Payee Account Debited Cash Cr. Inventory Cr. Accounts Dr. Accounts Payable Dr. Mar 13 416 Mar 15 417 Van Industries Payroll Van Industries Sales salaries expense Mar 23 418 Mar. 31 419 CD Company Payroll CD Company Sales salaries expense Mar 31 Totals $ 0 $ 0 $ 0 $ 0 Problem 7-1A Part 2 Required: 2-a. Enter the transactions in a sales journal. 2-b. Enter the transactions in a purchases journal. 2-c. Enter the transactions in a cash receipts journal. 2-d. Enter the transactions in a cash payments journal. 2-e. Enter the transactions in a general journal