Intermediate Accounting I Assessment Indicator Project You have been hired as an accountant for the Manhattan Trading Corporation and you need to record the following transactions in the General Journal & General Ledger for March 2022. The company owns and operates a retail electronics & appliance store. The company started on March 1, 2022. 1 Issued 300,000 shares of common stock in exchange for $700,000 cash. 2 Purchased furniture and fixtures at a cost of $30,000. $5,000 was paid in cash and a 60-day note payable was signed for the balance owed. 3 Purchased inventory on account at a cost of $300,000. The company uses the perpetual inventory system. 4 Credit sales for the month totaled $350,000. The cost of goods sold was $135,000. 5 Paid $4,000 in rent on the store building for the month of March. 6 Paid $12,000 to an insurance company for fire and liability insurance for a one-year period beginning March 5. 6 Declared a $10,000 cash dividend. 7 Paid $100,000 on account for the merchandise purchased in March 3. 8 Collected $110,000 from customers on account. 9 The company needs to buy a new delivery van and has the following alternatives: Toyota: Down Payment $ 5,000 and 60 monthly payments of $ 700 each Ford: $ 0 down payment and 70 monthly payments of $ 850 each. If the current interest rate is 12% compounded monthly, the company indeed purchased the best option. 12 The following plans are offered on the purchase of the 10 Desktop Computers: Plan A from Dell Inc.: 13,000 cash Plan B from HP: 24 monthly payments of $ 600 Plan C from Lenovo: $ 1,000 down and 20 monthly payments of $ 650. The interest rate is 12% compounded monthly.