Help Save & Exit Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 3/10, n/30). Mar. 1 Purchased $35,000 of merchandise from Van Industries, invoice dated March 1, terms 3/15, Sold nerchandise on eredit to Min Cho, Invoice No. 854, for $14,000 (cost is $7,000). 3 (a) Parchased $1,050 of office supplies on eredit from Gabel Company, invoice dated Harch 3, terma n/10 BOM. 3 (b) Sold merchandise on eredit to Linda Mitt, Invoice No. 855, for $7,000 (cost is $3,500). 6 Borroved $72,000 cash from Federal Bank by signing a long-tern note payable Purchased $17,500 of office equipment on credit fron Spell Supply, invoice dated Harch 9, terms n/10 EOM 10 Sold serchandise on credit to Jovita Albany, Invoice No. 856, for $3,500 (cost is $1,750). 12 Received paynent from Min Cho for the March 2 sale less the discount 13 (a) Sent Van Industries Check No. 416 in paynent of the March 1 invoice less the discount. 13 (b) Received paysent from Linda Witt for the Harch 3 sale leas the discount 14 Purchased 33,000 of merehandise from the cD company, invoice dated March 3, terma 3/io, 15 (a) iasued Check No.417, payable to Payroll, in payment of sales salaries expense for the first 15 (b) Cash sales for the first half of the month are $56,000 (cost is $44,800). (Cash sales are 16 Purchased $1,570 of store supplies on eredit tros Gabel Company, invoice dated Kareh 16, half of the month, $12,100. Cashed the check and paid the enployees 17 Received a $3,300 credit menor andun from cb Company for the return of unsatisfactory nerchandise purchased on Narch 14 Received a $525 credit memorandun trom Spell Supply for office equipment received on March 9 19 Received payment fron Jovita Albany for the sale of March 10 less the discount Issued Ceek No. 418 to CD Coepany in Paynent of the invoiee ot xareh 13 the March Sold nezchandise on eredit to Jovita Albany, Invoice No. 857, for $10, 500 feoste is $4,200) Sold serchandise on eredit to Linda witt, Invoice No. 858, for 4,200 (eostis 1,680)- 31 1a1 issued Check No.419, payable to Payrol in paynent of sales salaries expenae for the last half of the sonth, $12,100-Cashed the check and paid the exployees 31 tb) Cash sales for the last half of the month are $61,600 (cost is $36,960 31 te) verify that ancahta inpacting customer and creditor accounts vere posted and that any anounts that should have bren posted as individual anounts to the general ledger aecounta vere posted. Foot and eroastoot the jouznala and make the month-end postings Assume the following ledger account amounts Inventory (March 1 beg. bal. is $64,000). Z. Church, Capital (March 1 beg. bal, is $64,000) and Church Company uses the perpetual inventory system 1 2 of 2 Next > 6 9 0