Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30) Mar. 1 Purchased $36,e00 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/38. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,400 (cost is $7,200). 3 (a) Purchased $1,ese of office supplies on credit from Gabel Company, invoice dated March 3, terms n/10 EOM. 3 (b) sold merchandise on credit to Linda witt, Invoice No. 855, for $7,2e0 (cost is $3, 608). 6 Borrowed $72,ee0 cash from Federal Bank by signing a long-term note payable. 9 Purchased $18,ee0 of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOM. 1e Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,6e9 (cost is $1,8e0) 12 Received payment from Min Cho for the March 2 sale less the discount. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount. 14 Purchased $26,eee of merchandise from the CD Company, invoice dated March 13, terms 2/10, n/30. 15 (a) Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first 15 (b) Cash sales for the first half of the month are $57,600 (cost is $46,e80). (Cash sales are 16 Purchased $1,688 of store supplies on credit from Gabel Company, invoice dated March 16, terms 17 Received a $2,6ee credit memorandum from CD Company for the return of unsatisfactory merchandise 19 Received a s54e credit memorandum from spell supply for office equipment received on March 9 and half of the month, $17,700. Cashed the check and paid the employees recorded daily, but are recorded only twice here to reduce repetitive entries.) n/10 EOM purchased on March 14. returned for credit. 1e less the discount. 20 Received payment from Jovita Albany for the sale of March 23 Issued Check No. 418 to CD Company in payment of the invoice of March 13 less the March 17 return and the discount 27 Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $1e,880 (cost is $4,32e). 28 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,320 (cost is $1,728) 31 (a) Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $17,700. Cashed the check and paid the employees 31 (b) Cash sales for the last half of the month are $63, 360 (cost is $38,016). 31 (c) Verify that amounts impacting customer and creditor accounts were posted and that any anounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and nake the month-end postings Assume the following ledger account amounts Inventory (March 1 beg bal is $63,000). Z. Church, Capital (March 1 beg bal. is $63,000) and Church Company uses the perpetual inventory system. Enter the transactions in a cash disbursements journal. CASH DISBURSEMENTS JOURNAL Accounts Cash Cr. Inventory Cr.Accounts Dr. Payable Dr Other Date Ck.No. Payee Account Debited rS36,000 Mar 13 Mar 15 Mar 23 31 n Industries Van Industries Payroll CD Company [C Payrol 416 17.700 17.700 418 419 ales salaries expense D Company ales salaries expense 17,700 17,700 Mar 31 Totals 35.400 $ 35,400 $ 36,000 2 Received a $2,600 credit memorandum from CD Company for the return of unsatisfactory merchandise purchased on March 14 Note: Enter debits before credits Date General Journal Debit Credit Mar. 17 Record entry Clear entry View general journal 2 Received a $540 credit memorandum from Spell Supply for office equipment received on March 9 and returned for credit. Note: Enter debits before credits. Date General Journal Debit Credit Mar. 19 Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30) Mar. 1 Purchased $36,e00 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,400 (cost is $7,280). 3 (a) Purchased $1,ese of office supplies on credit from Gabel Company, invoice dated March 3, terms n/18 EOM. 3 (b) sold merchandise on credit to Linda witt, Invoice No. 855, for $7,200 (cost is $3,6ee). 6 Borrowed $72,e00 cash from Federal Bank by signing a long-term note payable. 9 Purchased $18,ee9 of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOM. 1e Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,680 (cost is $1,8e0). 12 Received payment from Min Cho for the March 2 sale less the discount. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount. 14 Purchased $26,000 of merchandise from the CD Company, invoice dated March 13, terms 2/10, n/30. 15 (a) Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first 15 (b) Cash sales for the first half of the month are $57,6ee (cost is $46,e80). (Cash sales are 16 Purchased $1,600 of store supplies on credit from Gabel Company, invoice dated March 16, terms 17 Recelved a $2,600 credit memorandum from co Company for the return of unsatisfactory merchandise 19 Received a ss4e credit nenorandum from Spell Supply for office equipeent received on March 9 and half of the month, $17,700. Cashed the check and paid the employees. recorded daily, but are recorded only twice here to reduce repetitive entries.) n/10 EOM. purchased on March 14. 20 23 Received payment from Jovita Albany for the sale of March 10 less the discount Issued Check No. 418 to CD Company in payment of the invoice of March 13 less the March 17 return and the discount. 27 Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $1e,880 (cost is $4,320). 28 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,328 (cost is 31 (a) Tssued check No. 419, payable to Payroll, in payment of sales salaries expense for the last half $1,728). of the month, $17,78e. Cashed the check and paid the employees. 31 (b) Cash sales for the last half of the month are $63, 360 (cost is $38,016) 31 (c) Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the month-end postings. Assume the following ledger account amounts Inventory (March 1 beg. bal. Is $63,000), Z. Church, Capital (March 1 beg bal is $63,000) and Church Company uses the perpetual inventory system. Req 2A Req 28 Req 2C Req 2D Req 2E Enter the transactions in a cash disbursements journal. CASH DISBURSEMENTS JOURNAL Accounts Accounts Dr. Payable Dr Other Cash Cr. Inventory Cr Ck No 416 417 418 419 Date Payee Account Debited 36,000 Mar 13 Mar 15 ar. 23 Mar. 31 Van Industries Van Industries Payroll CD Company CD Company Payroll Sales salaries expense 17.700 17,700 Sales salaries expense 17.700 17,700 35,400 $ 35,400 $ 36,000 Mar 31 Totals Reg 2C 0 Required information Received a $2,600 credit memorandum from CD Company for the return of unsatisfactory merchandise purchased on March 14. Note: Enter debits before credits. Date General Journal Debit Credit Mar. 17 Accounts payable-CD Co 2,600 Inventory 2,600 es Record entry Clear entry View general journal 0 Required information 2 Received a $540 credit memorandum from Spell Supply for office equipment received on March 9 and returned for credit. Note: Enter debits before credits. General Journal Debit Credit Date Mar. 19 Accounts payable-Spell Supply 540 540 office equipment Clear entry View general journal Record entry Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30) Mar. 1 Purchased $36,e00 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/38. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,400 (cost is $7,200). 3 (a) Purchased $1,ese of office supplies on credit from Gabel Company, invoice dated March 3, terms n/10 EOM. 3 (b) sold merchandise on credit to Linda witt, Invoice No. 855, for $7,2e0 (cost is $3, 608). 6 Borrowed $72,ee0 cash from Federal Bank by signing a long-term note payable. 9 Purchased $18,ee0 of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOM. 1e Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,6e9 (cost is $1,8e0) 12 Received payment from Min Cho for the March 2 sale less the discount. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount. 14 Purchased $26,eee of merchandise from the CD Company, invoice dated March 13, terms 2/10, n/30. 15 (a) Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first 15 (b) Cash sales for the first half of the month are $57,600 (cost is $46,e80). (Cash sales are 16 Purchased $1,688 of store supplies on credit from Gabel Company, invoice dated March 16, terms 17 Received a $2,6ee credit memorandum from CD Company for the return of unsatisfactory merchandise 19 Received a s54e credit memorandum from spell supply for office equipment received on March 9 and half of the month, $17,700. Cashed the check and paid the employees recorded daily, but are recorded only twice here to reduce repetitive entries.) n/10 EOM purchased on March 14. returned for credit. 1e less the discount. 20 Received payment from Jovita Albany for the sale of March 23 Issued Check No. 418 to CD Company in payment of the invoice of March 13 less the March 17 return and the discount 27 Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $1e,880 (cost is $4,32e). 28 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,320 (cost is $1,728) 31 (a) Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $17,700. Cashed the check and paid the employees 31 (b) Cash sales for the last half of the month are $63, 360 (cost is $38,016). 31 (c) Verify that amounts impacting customer and creditor accounts were posted and that any anounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and nake the month-end postings Assume the following ledger account amounts Inventory (March 1 beg bal is $63,000). Z. Church, Capital (March 1 beg bal. is $63,000) and Church Company uses the perpetual inventory system. Enter the transactions in a cash disbursements journal. CASH DISBURSEMENTS JOURNAL Accounts Cash Cr. Inventory Cr.Accounts Dr. Payable Dr Other Date Ck.No. Payee Account Debited rS36,000 Mar 13 Mar 15 Mar 23 31 n Industries Van Industries Payroll CD Company [C Payrol 416 17.700 17.700 418 419 ales salaries expense D Company ales salaries expense 17,700 17,700 Mar 31 Totals 35.400 $ 35,400 $ 36,000 2 Received a $2,600 credit memorandum from CD Company for the return of unsatisfactory merchandise purchased on March 14 Note: Enter debits before credits Date General Journal Debit Credit Mar. 17 Record entry Clear entry View general journal 2 Received a $540 credit memorandum from Spell Supply for office equipment received on March 9 and returned for credit. Note: Enter debits before credits. Date General Journal Debit Credit Mar. 19 Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30) Mar. 1 Purchased $36,e00 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,400 (cost is $7,280). 3 (a) Purchased $1,ese of office supplies on credit from Gabel Company, invoice dated March 3, terms n/18 EOM. 3 (b) sold merchandise on credit to Linda witt, Invoice No. 855, for $7,200 (cost is $3,6ee). 6 Borrowed $72,e00 cash from Federal Bank by signing a long-term note payable. 9 Purchased $18,ee9 of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOM. 1e Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,680 (cost is $1,8e0). 12 Received payment from Min Cho for the March 2 sale less the discount. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount. 14 Purchased $26,000 of merchandise from the CD Company, invoice dated March 13, terms 2/10, n/30. 15 (a) Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first 15 (b) Cash sales for the first half of the month are $57,6ee (cost is $46,e80). (Cash sales are 16 Purchased $1,600 of store supplies on credit from Gabel Company, invoice dated March 16, terms 17 Recelved a $2,600 credit memorandum from co Company for the return of unsatisfactory merchandise 19 Received a ss4e credit nenorandum from Spell Supply for office equipeent received on March 9 and half of the month, $17,700. Cashed the check and paid the employees. recorded daily, but are recorded only twice here to reduce repetitive entries.) n/10 EOM. purchased on March 14. 20 23 Received payment from Jovita Albany for the sale of March 10 less the discount Issued Check No. 418 to CD Company in payment of the invoice of March 13 less the March 17 return and the discount. 27 Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $1e,880 (cost is $4,320). 28 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,328 (cost is 31 (a) Tssued check No. 419, payable to Payroll, in payment of sales salaries expense for the last half $1,728). of the month, $17,78e. Cashed the check and paid the employees. 31 (b) Cash sales for the last half of the month are $63, 360 (cost is $38,016) 31 (c) Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the month-end postings. Assume the following ledger account amounts Inventory (March 1 beg. bal. Is $63,000), Z. Church, Capital (March 1 beg bal is $63,000) and Church Company uses the perpetual inventory system. Req 2A Req 28 Req 2C Req 2D Req 2E Enter the transactions in a cash disbursements journal. CASH DISBURSEMENTS JOURNAL Accounts Accounts Dr. Payable Dr Other Cash Cr. Inventory Cr Ck No 416 417 418 419 Date Payee Account Debited 36,000 Mar 13 Mar 15 ar. 23 Mar. 31 Van Industries Van Industries Payroll CD Company CD Company Payroll Sales salaries expense 17.700 17,700 Sales salaries expense 17.700 17,700 35,400 $ 35,400 $ 36,000 Mar 31 Totals Reg 2C 0 Required information Received a $2,600 credit memorandum from CD Company for the return of unsatisfactory merchandise purchased on March 14. Note: Enter debits before credits. Date General Journal Debit Credit Mar. 17 Accounts payable-CD Co 2,600 Inventory 2,600 es Record entry Clear entry View general journal 0 Required information 2 Received a $540 credit memorandum from Spell Supply for office equipment received on March 9 and returned for credit. Note: Enter debits before credits. General Journal Debit Credit Date Mar. 19 Accounts payable-Spell Supply 540 540 office equipment Clear entry View general journal Record entry