Garcia Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30).

March 1	Purchased $44,400 of merchandise from Turner Industries, terms 2/15, n/30.
March 2	Sold merchandise on credit to Clinton Company, Invoice Number 854, for $26,400 (cost is $16,000).
March 3	Purchased $1,900 of office supplies on credit from King Company, terms n/30.
March 3	Sold merchandise on credit to Jaden Thompson, Invoice Number 855, for $18,000 (cost is $10,800).
March 6	Borrowed $98,000 cash from Federal Bank by signing a long-term note payable.
March 9	Purchased $22,150 of office equipment on credit from Zhang Supply, terms n/30.
March 10	Sold merchandise on credit to Jean Clark, Invoice Number 856, for $14,400 (cost is $8,600).
March 12	Received payment from Clinton Company for the March 2 sale less the discount of $528.
March 13	Sent Turner Industries Check Number 416 in payment of the March 1 invoice less the discount of $888.
March 13	Received payment from Jaden Thompson for the March 3 sale less the discount of $360.
March 14	Purchased $39,000 of merchandise from the Lane Company, terms 2/10, n/30.
March 15	Issued Check Number 417 for $19,900, payee is Payroll, in payment of sales salaries expense for the first half of the month.
March 15	Cash sales for the first half of the month are $42,000 (cost is $25,200). These cash sales are recorded in the cash receipts journal on March 15.
March 16	Purchased $1,800 of store supplies on credit from King Company, terms n/30.
March 17	Returned $4,000 of unsatisfactory merchandise purchased on March 14 to Lane Company. Garcia reduces accounts payable by that amount.
March 19	Returned $3,320 of office equipment purchased on March 9 to Zhang Supply. Garcia reduces accounts payable by that amount.
March 20	Received payment from Jean Clark for the sale of March 10 less the discount of $288.
March 23	Issued Check Number 418 to Lane Company in payment of the March 14 purchase less the March 17 return and the discount of $700.
March 27	Sold merchandise on credit to Jean Clark, Invoice Number 857, for $32,000 (cost is $19,200).
March 28	Sold merchandise on credit to Jaden Thompson, Invoice Number 858, for $10,800 (cost is $6,500).
March 31	Issued Check Number 419 for $19,900, payee is Payroll, in payment of sales salaries expense for the last half of the month.
March 31	Cash sales for the last half of the month are $37,800 (cost is $22,700). These cash sales are recorded in the cash receipts journal on March 31.

General Journal tab - Each transaction is recorded in either a special journal, or directly in the general journal. If a transaction is to be recorded in a special journal, select "Entered in special journal" in the first account field. Otherwise, prepare the general journal entry. Prepare a journal entry for each of the special journals at month-end.

General Ledger and Trial Balance tabs - Journal entries are posted automatically to the general ledger and trial balance.

Cash Receipts Journal tab - Enter the transactions that are properly included in this special journal.

Cash Disbursements Journal tab - Enter the transactions that are properly included in this special journal.

Purchases Journal tab - Enter the transactions that are properly included in this special journal.

Sales Journal tab - Enter the transactions that are properly included in this special journal.

Garcia Company
Trial Balance
March 01, 2020
Account Title	Debit	Credit
Cash	10,600
Accounts receivable	58,000
Inventory	23,000
J. Garcia, Capital		91,600
Total	91,600	91,600

Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry.

No.	Date	Debit	Credit	Balance
	March 01			10,600

Cash

No.	Date	Debit	Credit	Balance
	March 01			58,000

Accounts receivable

No.	Date	Debit	Credit	Balance
	March 01			23,000

Inventory

No.	Date	Debit	Credit	Balance
	March 01			91,600

J. Garcia, Capital

General Ledger Account