GL0701 - Based on Problem 7-1A LO P1

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

Mar.		1		Purchased $44,500 of merchandise from Parker Industries, invoice dated March 1, terms 2/15, n/30.
Mar.		2		Sold merchandise on credit to Ryan Co., Invoice No. 854, for $27,600 (cost is $17,000).
Mar.		3		Purchased $1,300 of office supplies on credit from Perry Company, invoice dated March 3, terms n/10 EOM.
Mar.		3		Sold merchandise on credit to Li Zhang, Invoice No. 855, for $19,000 (cost is $11,400).
Mar.		6		Borrowed $100,000 cash from First Bank by signing a long-term note payable.
Mar.		9		Purchased $22,250 of office equipment on credit from Brown Supply, invoice dated March 9, terms n/10 EOM.
Mar.		10		Sold merchandise on credit to Maria Gonzalez, Invoice No. 856, for $15,200 (cost is $9,100).
Mar.		12		Received payment from Ryan Co. for the March 2 sale less the discount.
Mar.		13		Sent Parker Industries Check No. 416 in payment of the March 1 invoice less the discount.
Mar.		13		Received payment from Li Zhang for the March 3 sale less the discount.
Mar.		14		Purchased $39,800 of merchandise from the Walker Co., invoice dated March 13, terms 2/10, n/30.
Mar.		15		Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $20,100. Cashed the check and paid the employees.
Mar.		15		Cash sales for the first half of the month are $43,000 (cost is $25,800). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.)
Mar.		16		Purchased $2,000 of store supplies on credit from Perry Company, invoice dated March 16, terms n/10 EOM.
Mar.		17		Received a $3,800 credit memorandum from Walker Co. for the return of unsatisfactory merchandise purchased on March 14.
Mar.		19		Received a $3,340 credit memorandum from Brown Supply for office equipment received on March 9 and returned for credit.
Mar.		20		Received payment from Maria Gonzalez for the sale of March 10 less the discount.
Mar.		23		Issued Check No. 418 to Walker Co. in payment of the invoice of March 13 less the March 17 return and the discount.
Mar.		27		Sold merchandise on credit to Maria Gonzalez, Invoice No. 857, for $33,000 (cost is $19,800).
Mar.		28		Sold merchandise on credit to Li Zhang, Invoice No. 858, for $11,400 (cost is $6,800).
Mar.		31		Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $20,100. Cashed the check and paid the employees.
Mar.		31		Cash sales for the last half of the month are $38,700 (cost is $23,200).

For this question you must post to the General Journal, General Ledger, Trial Balance, Cash Rec Journal, Cash Disb Journal, Purchases Journal, and Sales Journal.