difference beween year one year two

The following laformation opplies to the questions displaynd below.). Cturch Company completes these transactions and events during March of the current year ferms for ail its credit sales are tho, n/30). March 1 Purchased 537,000 of merchandise fros Van Industrios, terss 1/15,n30. March 2 Sold merchandise on credit to Min Cho, Involee Nuaber 854 , for 514 , 8ee (cos is 57,40a). March 3 (a) Purchased \$1, 110 of office supplies on credit fron Gabel Cospany, terms n/30. March 3 (b) Sotd aerehandise on credit to Bindo Witt, Invoice Nunber 855, for 97,400 (cost is $3,780]. March 6 Borroved $72, obe cash from Federal Bank by signing a tong-tern note payable. March 9 Purchased 518,5 ee of office pqufipent on credit fron spelt Supply, teriss n/3e. March 20 Sold merchandise on credit to Donita A1bany, Invoice Nunber 856, for \$3, 70a (cost is 51,850). March 12 Recelved payment tron Min Chy fot invilireh 2 sale less the discount of s148. March 13 (a) Sent Van industries oneck Moskif tha in paysent of the March 1 invoice less the ditcount of s37s. March 13 (b) Recelved paynent froh Linda. Mis bor the Mareh 3 sale less the discount of 374. March 14 Purchased 332 , ee0 of berchandise fros the CO Cospany, teras 1/10, n/30. March 15 (a) Issued check Number 417 for $16,800 : poyee is Payroli, in payment of sales salaries expense for the March 15 (b) Cash sales for the first half of the month are 559,200 (cost is $47,3601. These cash sales are recorded in the cash receipts journat on March 15. March 16 Purchased $1,630 of store supplies on credit froe Gabel Cospany, terns a/30. March 17 Returned $3,200 of unsatisfactory nerchandise purchased on Mareh 14 to CD Coepany, Church reduces. March 29 Returned $555 of office equipnent purchosed on March 9 to Spet1 Supply. Church redices accounts Yareh 20 - payable by that anount. March 27 and the 5288 discount, 50 merchandise on credit to Jovita Atbany, Involce Nunber a57, for 511,150 (cost is 54,440). March 28 Sold merchandise on credit to Lindo Witt, Invoice Nuaber 858 , for 34,440 , (cost is 31,276). March 31 (a) Issued Check Nuaber 419 tor $16,800; payee is Payrot1, in payednt at sates sataries expense for the: March 31 (b) Cash sales for the last half of the nonth are 565,120 (cost is $39,072). These cash sates are: Macern- recorded in the cash receipts journal on March 31 . March 31 (c) Verify that anounto inpacting customer and creditor occounts vere posted and that any anounts that shoutd have been posted as individuat amounts to the generat ledger accounts vere posted. Foot and crossfoot the journals and make the month-end postings. Assume the following ledger account amounts: Inventory (March 1 beginning balance is 564,000 ), z. Church, Capital (March 1 beginning bolance is $64,000 ) and Church company uses the perpetual inventory system. Required: " 2.a. Enter the transiactions in a sales journol. 2.b. Enter the transactions in at purchases journal. 2-erifiter the transactions in a cauh receipts journel. Complete this question by entering your answers in the tabs below. Enter the transactions in a sales journal. Complete this questien by entering your answers in the tabs below; Enter the tranapcions in a pirchases foornai. recelvable collections, and bad debts. These transactions are summarized as follows: Year 1 a. Sold $1,351,800 of merchandise on credit (that had cost $981,200 ), terms n/30. b. Wrote off $21,000 of uncollectible accounts receivable. c. Recelved $670.400 cash in payment of accounts recelvable. d. In adjusting the accounts on December 31 , the company estimated that 3.10% of accounts recelvable would be uncollectible. Year 2 e. Sold $1,524,600 of merchandise (that had cost $1,275,000 ) on credit, terms n/30. f. Wrote off $34,300 of uncollectible accounts receivable. 9. Recelved $1,267,900 cash in payment of accounts receivable. h. In adjusting the accounts on December 31 , the company estimated that 3.10% of accounts recelvable would be uncollectible. Required: Prepare journal entries to record Llang's Year 1 and Year 2 summarized transactions and its yeacend adjustments to record bad debts expense. company uses the perpetual inventory system, and it applies the allowance method for its accounts receivable.) (Round your intermediate calcu the nearest dollar.) Complete this question by entering your answers in the tabs below. Prepare journal entries to record Liang's Year 2 summarized transactions and its year-end adjustments to record bod debts expense. The company perpetuol inventory system, and it applies the allowance method for its accounts recelvable.) Prepare journal entries to record Liang's Year 2 summarized transactions and its year-end adjustments to record bad perpetual inventory system, and it applies the allowance method for its accounts receivable.) Journal entry worksheet Sold $1,524,600 of merchandise on credit, terms n/30. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits