Consider the following for the Fantastic Dress Shop. The company uses the perpetual inventory method. (Click the icon to view the February 28, 201X post-closing trial balance.) (Click the icon to view the March 201X transactions.) (Click the icon to view the chart of accounts.) (Click the icon to view additional data.) (Click the icon to view the journal entries for the March 201X transactions.) Read the requirements. Mar. Cash Post. Account No. Balance 110 Explanation Ref. Debit Credit Debit Credit Date 201X 1 Balance 2,350.80 Data table The Fantastic Dress Shop Post-Closing Trial Balance February 28, 201X Cash 2,350.80 Petty Cash 55.00 Accounts Receivable 1,800.00 Merchandise Inventory 4,900.00 Prepaid Rent 1,650.00 Delivery Truck 12,000.00 Accumulated Depreciation, Truck 3,000.00 Accounts Payable 2,000.00 Print Done P R Accumulated Depreciation, Truck 5,000.00 Accounts Payable 2,000.00 FIT Payable 728.00 FICA-OASDI Payable 1,153.20 FICA-Medicare Payable 269.70 SIT Payable 651.00 SUTA Payable 854.40 FUTA Payable Unearned Rent B. Duval, Capital 106.80 1,000.00 12,992.70 Total 22,755.80 22,755.80 Print Done 201X Mar. 1 Bach paid balance owed, no discount. 2 Purchased merchandise from Thomas Company on account, $8,000; terms 1/10, n/30. 2 Paid $10 from the petty cash fund for cleaning package, voucher no. 18 (consider it a cleaning expense). 3 Sold merchandise to Young Company on account, $8,000, invoice no. 51; terms 3/10, n/30. Cost of Inventory, $2,510. 5 Paid $7 from the petty cash fund for postage, voucher no. 19. 6 Sold merchandise to Young Company on account, $8,000, invoice no. 52; terms 3/10, n/30. Cost of Inventory, $2,240. 8 Paid $11 from the petty cash fund for first aid emergency, voucher no. 20. 9 Purchased merchandise from Thomas Company on account, $4,000; terms 1/10, n/30. 9 Paid $9 for delivery expense from petty cash fund, voucher no. 21. Relates to merchandise purchase. 9 Sold more merchandise to Young Company on account, $6,000, invoice no. 53; terms 3/10, n/30. Cost of Inventory, $1,970. 9 Paid cleaning service, $100, check no. 110. 10 Young Company returned merchandise sold for $3,200 from invoice no. 52; the Fantastic Dress Shop issued credit memo no. 10 to Young Company for $3,200. Cost of Inventory returned, $1,025. 11 Purchased merchandise from Johnsons Company on account, $14,000; terms 3/15, n/60. 12 Sold merchandise for $30,000 cash. Cost of inventory, $13,830. 12 Paid Thomas Company invoice dated March 2, check no. 111. 13 Sold $5,000 of merchandise for cash. Cost of Inventory, $2,900. 14 Returned merchandise to Johnsons Company in the amount of $1,000; the Fantastic Dress Shop issued debit memo no. 4 to Johnsons Company. 14 Paid $2 from the petty cash fund for delivery expense, voucher no. 22. Relates to merchandise purchase. 15 Paid taxes due for FICA (OASDI and Medicare) and FIT for February payroll, check no. 112. 15 Bridget withdrew $250 for her own personal expenses, check no. 113. 15 Paid state income tax for February payroll, check no. 114. 16 Received payment from Young Company for invoice no. 52, less discount and return. 16 Young Company paid invoice no. 51, $8,000. 16 Sold merchandise to Bach Company on account, $4,600, invoice no. 54; terms 3/10, n/30. Cost of Inventory, $1,840. 21 Purchased delivery truck on account from Manny's Garage, $19,700. 22 Sold merchandise to Young Company on account, $5,000, invoice no. 55; terms 3/10, n/30. Cost of Inventory, $2,650. 23 Paid Johnsons Company the balance owed, check no. 115. 24 Sold merchandise to Bach Company on account, $1,400, invoice no. 56; terms 3/10, n/30. Cost of Inventory, $720. 25 Purchased merchandise for $1,800 check no. 116. 27 Purchased merchandise from Danmark Company on account, $5,000; terms 1/10, n/30. 25 Purchased merchandise for $1,800 check no. 116. 27 Purchased merchandise from Danmark Company on account, $5,000; terms 1/10, n/30. 27 Paid $3 postage from the petty cash fund, voucher no. 23. 28 Young Company paid invoice no. 55 dated March 22, less discount. 28 Bach Company paid invoice no. 54 dated March 16. 29 Purchased merchandise from Thomas Company on account, $13,000; terms 1/10, n/30. 30 Sold merchandise to Danmark Company on account, $9,000, invoice no. 57; terms 3/10, n/30. Cost of Inventory, $2,100. 30 Issued check no. 117 to replenish the petty cash fund to the same level. Assume no shortage or overage. 30 Recorded payroll in payroll register. 30 Journalized payroll entry (to be paid on 31st). 30 Journalized employer's payroll tax expense. 31 Paid payroll checks no. 118, no. 119, and no. 120. Additional Data a. During March, rent expired, $550. b. Truck depreciated, $300. c. Rental income earned, $250 (one month's rent from subletting). d. Bridget Duval's dress shop is located at 1 Milgate Rd., Marblehead, MA 01945. Its identification number is 33-4158215. Print Done Assets 110 Cash 111 Petty Cash 112 Accounts Receivable 114 Merchandise Inventory 116 Prepaid Rent 120 Delivery Truck 121 Accumulated Depreciation, Truck Liabilities 210 Accounts Payable Revenue 410 Sales 412 Sales Returns and Allowances 414 Sales Discount 416 Rental Income Cost of Goods Sold 510 Cost of Goods Sold Expenses 610 Sales Salaries Expense Print Done 212 Salaries Payable 611 Office Salaries Expense 214 Federal Income Tax Payable 612 Payroll Tax Expense 216 FICA-OASDI Payable 614 Cleaning Expense 218 FICA-Medicare Payable 616 Depreciation Expense, Truck 220 State Income Tax Payable 618 Rent Expense 222 SUTA Tax Payable 620 Postage Expense 224 FUTA Tax Payable 622 Delivery Expense 226 Unearned Rent 624 Miscellanous Expense Owner's Equity 310 B. Duval, Capital Owner's Equity 310 B. Duval, Capital 320 B. Duval, Withdrawals 330 Income Summary Date Petty Cash Account No. 111 Post. Balance Explanation Ref. Debit Credit Debit Credit 201X Mar 1 Balance 55.00 Date Accounts Receivable Account No. 112 Post. Balance Explanation Ref. Debit Credit Debit Credit 201X Mar. 1 Balance 1,800.00 Mar. Date 201X Merchandise Inventory Account No. Balance Post. Explanation Ref. Debit Credit Debit 1 Balance 4,500.00 114 Credit Mar. Prepaid Rent Account No. Balance Post. Explanation Ref. Debit Credit Debit Date 201X 1 Balance 1,650.00 116 Credit Delivery Truck Account No. 120 Post. Balance Date Explanation Ref. Debit Credit Debit Credit 201X Consider the following for the Fantastic Dress Shop. The company uses the perpetual inventory method. Accumulated Depreciation, Truck Post. Account No. Balance 121 Explanation Ref. Debit Credit Debit Credit Date 201X Mar. 1 Balance Mar. Date 201X 3,000.00 Accounts Payable Account No. 210 Post. Balance Explanation Ref. Debit Credit Debit Credit 1 Balance 2,000.00 Mar. Salaries Payable Account No. 212 Post. Balance Explanation Ref. Debit Credit Debit Credit Date 201X 1 Balance FIT Payable Account No. 214 Post. Balance Date Explanation Ref. Debit Credit Debit Credit 201X Mar. 1 Balance 201X Date 728.00 FICA- OASDI Payable Account No. 216 Post. Ealance Explanation Ref. Debit Credit Debit Credit Mar. 1 Balance 1,153.20 Mar. FICA - Medicare Payable Account No. 218 Post. Balance Explanation Ref. Debit Credit Debit Credit Date 201X 1 Balance 269.70 SIT - Payable Post. Account No. 220 Balance nata Fynlanation Ref nahit Credit Dehit Credit Explanation Ref. Debit Credit Debit Credit Mar. Date 201X 1 Balance Mar. Date 201X SUTA Tax Payable 651.00 Account No. 222 Balance Post. Explanation Ref. Debit Credit Debit 1 Balance: Credit 854.40