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Cycle Tech Bicycles had the following cash payment transactions in March Date Transactions Mar 11. Purchased $1 800 in merchandise from Summit Bicycles. Check 2111

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Cycle Tech Bicycles had the following cash payment transactions in March Date Transactions Mar 11. Purchased $1 800 in merchandise from Summit Bicycles. Check 2111 2. Issued Check 2112 for $2.450 to Spaulding Inc. in payment of the $2.500 account balance less a 2% cash discount of $50 73. Issued Check 2113 for $3,100 to Desert Palms Insurance Company for the annual business insurance premium 12. 4. Paid $175 to Viking Express for delivery of merchandise purchased from Schwinn Inc., FOB shipping point. Check 2114 17 5. Issued Check 2115 to Suspension Specialists for $3,880 in payment of invoice 11492 for $4,000 less a 3% cash discount of $120. 20 6. Received the March bank statement and recorded bankcard fees of $275, 24 7 Paid All-Star News $130 to run an advertisement promoting the store, Check 2116 28 8. Bought $100 in supplies and $700 in store equipment from Superior Store Equipment Inc. Check 2117 for $800. 31 9. Issued Check 2118 for $2.185.50 in payment of monthly wages of $3,000 less deductions for the following taxes: Employees' Federal Income Tax Payable, $480: Employees' State Income Tax Payable, $105; Social Security Tax Payable, $186, and Medicare Tax Payable. $43.50 1. Record the above transactions in the general journal View transaction list View journal entry worksheet NO General Journal Credit Date Mar, 1 Debit 1,800 1 Purchases Cash in Bank 1,800 2 Mar. 3 2.500 Accounts Payable-Spoulding Inc. Cash in Bank Purchases Discounts 2450 50 9 Mar 31 3,000.00 Salaries Expense Employees' Federal Income Tax Payable Employees' State Income Tax Payable Social Security Tax Payable Modicare Tax Payable Cash in Bank 480.00 105.00 188 00 43 50 2.185.50

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