I don't know how to do my hw help pl????Problem 7-1A Special journals, subsidiary ledgers, trial balance-perpetual LO C3, P1, P2
Required information Problem 7-1A Special journals, subsidiary ledgers, trial balance-perpetual LO C3, P1, P2 [The following information applies to the questions displayed belowj Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30) Purchased $37,000 of merchandise fr? Van Industries, invoice dated March 1, terms 2/ 15, n/30 Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,800 (cost is $7, 400) ar 3 (a) Purchased $1, 110 of office supplies on credit from Gabel Company, invoice dated March 3, terms n/10 EOM 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $7, 400 (cost is $3,700) Borrowed $72, 000 cash from Federal Bank by siming a long-term note payable Purchased $18,500 of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOIL Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3, 700 (cost is $1, 850) Received payment from Min Cho for the March 2 sale less the discount. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the di scount 13 (b) Received payment from Linda Witt for the March 3 sale less the discount 15 (a) Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month 15 (b) Cash sales for the first half of the month are $59, 200 (cost is $47, 360). (Cash sales are recorded daily, but are Purchased $31,000 of merchandise from the CD Company, invoice dated March 13, terms 2/10, n/30. $13,400. Cashed the check and paid the employees. recorded only twice here to reduce repetitive entries.) Purchased $1,630 of store supplies on credit fr? Gabel Company, invoice dated March 16, terms n/10 EOM. Received a $3,100 credit memorandum from CD Company for the return of unsatisfactory merchandise purchased on March Received a $555 credit memorandum from Spell Supply for office equi?ent received on March 9 and returned for credit. Received payment from Jovita Albany for the sale of March 10 less the discount. Issued Check No. 418 to CD Company in payment of the invoice of March 13 less the March 17 retum and the discount. Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $11,100 (cost is $4, 440 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,440 (cost is $1,776) 20 23 28 31 (a) Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $13,400. Cashed the check and paid the employees. 31 b Cash sales for the last half of the month are $65,120 (cost is $39, 072) 31 ) Verify that amonts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the month-end postings. Assume the following ledger account amounts Inventory (March 1 beg. bal is $62,000), Z. Church, Capital (March 1 beg bal. is $62,000) and Church Company uses the perpetual inventory system
