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 Purchased $34,000 of merchandise from Van Industries, terms 3/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $13,600 (cost is $6,800). 3 (a) Purchased $1,020 of office supplies on credit from Gabel Company, terms n/30. 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $6,800 (cost is $3,400). 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. 9 Purchased $17,000 of office equipment on credit from Spell Supply, terms n/30. 10 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,400 (cost is $1,700). 12 Received payment from Min Cho for the March 2 sale less the discount of $408. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount of $1,020. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount of $204. 14 Purchased $27,000 of merchandise from the CD Company, terms 3/10, n/30. 15 (a) Issued Check No. 417 for $13,700, 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 $54,400 (cost is $43,520). These cash sales are recorded in the cash receipts journal on March 15. 16 Purchased $1,540 of store supplies on credit from Gabel Company, terms n/30. 17 Returned $2,700 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. 19 Returned $510 of office equipment purchased on March 9 to Spell Supply. Church reduces accounts payable by that amount. 20 Received payment from Jovita Albany for the sale of March 10 less the discount of $102. 23 Issued Check No. 418 to CD Company in payment of the March 14 purchase less the March 17 return and the $729 discount. 27 Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $10,200 (cost is $4,080). 28 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,080 (cost is $1,632). 31 (a) Issued Check No. 419 for $13,700, 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 $59,840 (cost is $35,904). 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 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.

Red 2A Reg 28 Reg 2C Reg 2D Rec 2E Required information Problem 7-1A Special journals, subsidiary ledgers, trial balance LO P1, P2, P3, P4 The following information applies lo the questions disulayed below. Enter the transactions in a sales journal. SALES JOURNAL Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 3/0 n/30) Date Account Debited al Invoice Number Accounts Receivable Dr. Sales Cor. Cost of Goods Sold Dr. Inventory Cor. Mar. 31 Total 5 0 5 0 Reg za Req 28 > Mari Purchased 534000 of merchandise from Van Industries, terms 3/15 - 30 2 Sulinet t i Muhu, Ini No. 854, 513,600 (us. 18 S6,800). 3 (a) Purchased 5..020 of office supplies on credit from Gabel Company: tenns 30. (1) Sadec e bir tolia Witt Trice NO 855 for $6200 i S94001) 6 Borrowed $72.000 cash from Federal Bank by signing a long-term note payable. Purch med 517000 of office equipment on credit from Spall Supply, terme 130 LO Sold anerchandise or credit to Jovita Albany, Invoice No. 536, loc 53,400 (cost is 51,700). 12 Receira mentom in Cho in the March 9. ale tera the discount of $408 13 (a) Seal Vanloduces Cues No. 416 paymenl of the Mach 1 in vive less live sco. 51,020. 13(b) Received payment from Linda Witt for the March 3 ale less the discount of S204 14 Purchased $22.000 of chance to the CD Company, terma 3 10.1 30. IS (a) Essted Check No. 417 for $13,700, 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 554.400 (cost is $43.520). These cash sales are recorded in the cash receipt jeman March 19 16 Purchased 51.340 of stue supplies credit for Gabel Copeny, terus n. 30. 17 Round $2.700 o rrixfactor merchandise durchased on March 14 to CD Company Church reduces accounts payable by that anunt 19 Returned S51D of office equipment rased on March 9 ta Spell Supply Church reduces ac ts payable by that amount. Received payment from Jovita Albay for the sale of March 10 less the discount of $102. Chat No 118 CD Cr y in sy of the March 11 purchase lees - Mach 1 Telur and the $729 discourt. 27 Sold merchandise on credit to Jovsta Alberty Invoice No. 357. for $10.000 (contie 34.000 28 Sold merchandise on credit to Linda Witt, Invoice No. 59. for 34.(cost is $1.632). 31 (a) Loed Check No. 419 Tor $13,700, payee 1a Paseoll, in payment of sales salaries espere for the last half of the month 41 (h) Cash sales for the 1st half of the month are $59.840 (cost is $25,904) These cash sales are recorded in the cash receipts ournal on March 31. 31(c) Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posleu a m uual amounts lo the tal ledger wouls we pusleu Foul and crasfoot the joomal and make the mouth-end postings. Complete this question by entering your answers in the tabs below. FM Ry Tee the transactions purcharan geurns. Date Assume the following lcdgcr account amounts Inventory (March 1 bcg. bal.is $63.000). Z. Church, Capital (March 1 beg. bal. is $63.000) and Church Company uses the perpetual inventory system Complete this question by entering your answers in the tabs below. Complete this question by entering you nawera in the tabs below. Reg 24 Rag 25 Rec 20 Rza 20 R425 Reca Enter the transactions in a cash receipts jumal. Manresa nag zo CASH RECEPTS JOURNAL Enter the transactions in a cash payments journal. CASH PAYMENTS.TOURNAL Account Credited Cach Dr Sales Discount Dr. Accounts Reivable Cr. Sales Cl. Other Aucts. Cr. Solid DL Invenuty C CANO Payee Account Deblled Casher inventory Gre De ar. 31 Total Toumal Pntry worksheet loumal entry worksheet