Griffin 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 $45,100 of merchandise from Zhang Industries, terms 2/15, n/30. March 2 Sold merchandise on credit to Lee Company, Invoice Number 854, for $34,800 (cost is $21,000). March 3 Purchased $1,700 of office supplies on credit from Gonzalez Company, terma n/30. March 3 Sold merchandise on credit to Sarah Walker, Invoice Number 855, for $17,000 (cost is $10,200). March 6 Borrowed $94,000 cash from National Bank by signing a long-term note payable. March 9 Purchased $22,350 of office equipment on credit from Wilson Supply, terms n/30. March 10 Sold merchandise on credit to Hao Lee, Invoice Number 856, for $13,600 (cost is $8,200). March 12 Received payment from Lee Company for the March 2 sale less the discount of $696. March 13 Sent Zhang Industries Check Number 416 in payment of the March 1 Invoice less the discount of $902. March 13 Received payment from Sarah Walker for the March 3 sale less the discount of $340. March 14 Purchased $44,600 of merchandise from the Mannion Company, terms 2/10, n/30. March 15 Issued Check Number 417 for $21,300, 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 $49,000 (cost is $29,400). These cash sales are recorded in the cash receipts journal on March 15. March 16 Purchased $1,800 of store supplies on credit from Gonzalez Company, torms n/30. March 17 Returned $4,600 of unsatisfactory merchandise purchased March 14 to Mannion Company. Griffin reduces accounts payable by that amount. March 19 Returned $3,350 of office equipment purchased on March 9 to Wilson Supply. Griffin reduces accounts payable by that amount. March 20 Received payment from Hao Lee for the sale of March 10 less the discount of $272. March 23 Issued Check Number 418 to Mannion Company in payment of the March 14 purchase less the March 17 return and the discount of $800. March 27 Sold merchandise on credit to Hao Lee, Invoice Number 857, for $30,000 (coot is $18,000). March 28 Sold merchandise on credit to Sarah Walker, Invoice Number 858, for $10,200 (cost is $6,100). March 31 Issued Check Number 419 for $21,300, payee is Payroll, in payment of sales salaries expense for the last halt of the month. March 31 Cash sales for the last half of the month are $44,100 (coat is $26,500). These cash sales are recorded in the cash receipts journal on March 31. Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal 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. March 20 Received payment from Hao Lee for the sale of March 10 less the discount of $272. March 23 Tsued Check Number 418 to Mannion Company in payment of the March 14 purchase less the March 17 return and the discount of $800. March 27 Sold merchandise on credit to Hao Lee, Invoice Number 857, for $30,000 (cost is $18,000). March 28 Sold merchandise on credit to Sarah Walker, Invoice Number 858, for $10,200 (cost is $6,100). March 31 Tooed Check Number 419 for $21,300, payee is Payroll, in payment of salon salaries expense for the last halt of the month. March 31 Cash sales for the last half of the month are $44,100 (cost is $26,500). These cash sales are recorded in the cash receipts journal on March 31. Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal 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. General Ledger Account Cash Accounts recolvable No. Debit Credit No. Debit Credit Date March 01 Balance 18,000 Date March 01 Balance 55,000 Inventory Debit R. Griffin, Capital Debit Credit No Credit No. Dato March 01 Balance 20.000 Date March 01 Balance 93,000 Maren 20 Keceivea payment from HGO Lee or the sale of Maren LU LES to aiscount or >212. March 23 Issued Check Number 418 to Mannion Company in payment of the March 14 purchase less the March 17 return and the discount of $800. March 27 Sold merchandise on credit to Hao Lee, Invoice Number 857, for $30,000 (cost is $18,000). March 28 Sold merchandise on credit to Sarah Walker, Invoice Number 858, for $10,200 (cost is $6,100). March 31 Issued Check Number 419 for $21,300, payee is Payroll, in payment of sales salaries expense for the last halt of the month. March 31 Cash sales for the last half of the month are $44,100 (cost is $26,500). These cash wales are recorded in the cash receipts journal on March 31. Requirement General General Cash Rec Cash Disb Trial Balance Journal Purchases Ledger Journal Journal Journal Sales Journal The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct Show less Griffin Company Trial Balance March 01, 2020 Account Title Debit Credit $ Cash Accounts receivable Inventory AR Griffin, Capital Total 18,000 55,000 20,000 93,000 93,000 S 93,000 $ accounts payable by that amount. March 19 Returned $3,350 of office equipment purchased on March 9 to Wilson Supply. Griffin reduces accounts payable by that amount. March 20 Received payment from Hao Lee for the sale of March 10 less the discount of $272. March 23 Issued Check Number 418 to Mannion Company in payment of the March 14 purchase loss the March 17 return and the discount of $800. March 27 Sold merchandise on credit to ao Lee, Invoice Number 857, for $30,000 (cost is $10,000). March 28 Sold merchandise on credit to Sarah Walker, Invoice Number 858, for $10,200 (cost is $6,100). March 31 Issued Check Number 419 for $21,300, 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 $44,100 (cost is $26,500). These cash sales are recorded in the cash receipts Journal on March 31. Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Enter all transactions that are properly included in the Cash Receipts Journal. Date Account credited CASH RECEIPTS JOURNAL Accounts Sales discount Cash Deba Debit receivable Credit Sales Credit Cost of goods Other Account Credit sold Debit Inventory Credit March 31 Totals (Trial Balance Cash Disb Journal > March 15 Cash sales for the first half of the month are 349,000 cost is $29.400). These cash sales are recorded in the cash receipts Journal on March 15. March 16 Purchased $1,800 or store supplies on credit from Gonzalez Company, term n/30. March 17 Returned 54,600 of unsatisfactory merchandise porchased on March 14 to Mannion Company. Griffin reduces accounts payable by that amount. March 19 returned $3,350 of office equipment purchased on March 9 to wloon Supply. Grattin reducen account payable by that amount. March 20 received payment from Hao Lee for the sale of March 10 less the discount of $272, March 23 Langed Check Number 420 to Mansion company in payment of the March 14 parchazo lose the March 17 retorn and the discount of $800. March 27 Sold merchandise on credit to Bao Lee, Invoice Number 157, for $30,000 (cost is $13,000 March 28 Sold merchandise on credit to Sarah Walker, Invoice Number $58, for 520,200 (cost is $6,100). March 31 Tasued Check Wamber 419 for $21,300, payee is Payroll, in payment of sales salaries expense for the last halt of the month. March 31 Cash sales for the last half of the month are $44,200 (cost 1. $26,500). These cash sales are recorded in the cash receipts Journal on March 31. General General Cash Rec Trial Balance Cash Disb Purchases Requirement Journal Ledger Journal Journal Journal Sales Journal Enter all transactions that are properly included in the Cash Disbursements Journal. CASH DISBURSEMENTS JOURNAL Date Check Account debited Payeo Number Cash Creot Inventory Credit Other accounts Debit Accounts payablo Debit March 31 Totals casn receipts Journal on raron 19. March 16 Purchased $1,800 of store supplies on credit from Gonzalez Company, terma n/30. March 17 Heturned $4,600 of unsatisfactory merchandise purchased on March 14 to Mannion Company. Griffin reduces accounts payable by that amount. March 19 Returned $3,350 of office equipment purchased on March 9 to Wilson Supply Griffin reducen accounts payablo by that amount. March 20 Received payment from Hao Lee for the sale of March 10 less the discount of $272. March 23 Issued Check Number 418 to Mannion Company in payment of the March 14 purchase less the March 17 return and the discount of $800. March 27 sold merchandise on credit to Hao Lee, Invoice Number 857, for $30,000 (cost is $18,000). March 28 Sold merchandise on credit to Sarah Walker, Invoice Number 858, for $10,200 (cost is $6,100). March 31 Issued Check Number 419 for $21,200, payee to Payroll, in payment of sales salaries expense for the last halt of the month. March Cash sales for the last halt of the month are $44,100 cost is $26,500). These can wales are recorded in the cash receipts journal on March 31. Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Enter all transactions that are properly included in the Purchases Journal. PURCHASES JOURNAL Date Account Invoice Date Terms Accounts payable Credt Inventory Debel Office Supplies Debit Other accounts Dobit March 31 Totais can receipts Journal on Maren 15. March 16 Purchased $1,800 of store supplies on credit from Gonzalez Company, termen/30. March 17 Returned $4,600 of unsatisfactory merchandise purchased on March 14 to Mannion Company. Griffin reduces accounts payable by that amount. March 19 Returned $3,350 of office equipment purchased on March 9 to Wilson Supply. Griffin reduces accounts payable by that amount. March 20 Received payment from Hao Lee for the sale of March 10 less the discount of $272. March 23 Issued Check Number 418 to Mannion Company in payment of the March 14 purchase less the March 17 return and the discount of $800. March 27 Sold merchandise on credit to Hao Lee, Invoice Number 857, for $30,000 (cost is $10,000) March 28 Sold merchandise on credit to Sarah Walker, Invoice Number 858, for $10,200 (cost is $6,100). March 31 Issued Check Number 419 for $21,300, payee Is Payroll, in payment of sales salaries expense for the last halt of the month. March 31 Cash sales for the last half of the month are $44,100 (cost is $26,500). Thene cash sales are recorded in the cash receipts journal on March 31. Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Enter all transactions that are properly included in the Sales Journal. SALES JOURNAL Date Account debited Involce number Accounts receivable Debit Sales Credit Cost of goods sold Debit Inventory Credit March 31 Totals