Jared Payne owns Payne's Sneaker Shop. (Balances as of March 1 are provided for the accounts receivable and general ledger accounts as follows: Durant, $250 Dr.; Lanham, $550 Dr; Pry, $800 Dr.; Zamara, $550 Dr.; Cash, $15,500 Dr.; Accounts Receivable, $2,150 Dr.; Sneaker Rack Equipment, $1,150 Dr.; Jared Payne, Capital $35,000 Cr.; Sales, $2,100 Cr. Be sure to put beginning balances in your working papers.) The following transactions occurred in March: 9A-3. L01,2,3 (70 min) 201X March Jared Payne invested an additional $10,500 in the sneaker store. 3 Sold $700 of merchandise on account to B. Durant, sales ticket no. 50; 4 Sold $500 of merchandise on account to Ron Lanham, ss ticket no. 51; 9 Sold $200 of merchandise on account to Jim Zamara, sales ticket no. 52; terms, 4/10, n/30. terms 4/10, n/30. terms 4/10, n/30. Received cash from B. Durant in payment of March 3 transaction, sales ticket no. 50, less discount. Sold $3,000 of merchandise on account to Penny Pry, sales ticket no. 53; terms 4/10, n/30. Received cash payment from Ron Lanham in payment of March 4 transaction, sales ticket no. 51 Collected cash sales, $3,400. Issued credit memorandum no. 1 to Penny Pry for $2,000 of merchandise returned from March 20 sales on account. Received cash from Penny Pry in payment of March 20, sales ticket no. 53 (Don't forget about the credit memo and discount.) Collected cash sales, $6,200. Sold sneaker rack equipment for $150 cash. (Beware, sold at cost.) Sold merchandise priced at $3,400, on account to Ron Lanham, sales ticket no. 54; terms 4/10, n/30. Issued credit memorandum no. 2 to Ron Lanham for $595 of merchandise returned from March 30 transaction, sales ticket no. 54. 10 20 Check Figure: Schedule of accounts receivable 22 $5,155 23 24 26 28 30 30 31 Required 1. Jounalize the transactions 2. Record to the accounts receivable subsidiary ledger and post to the gen eral ledger as needed 3. Prepare a schedule of accounts receivable for the end of March Jared Payne owns Payne's Sneaker Shop. (Balances as of March 1 are provided for the accounts receivable and general ledger accounts as follows: Durant, $250 Dr.; Lanham, $550 Dr; Pry, $800 Dr.; Zamara, $550 Dr.; Cash, $15,500 Dr.; Accounts Receivable, $2,150 Dr.; Sneaker Rack Equipment, $1,150 Dr.; Jared Payne, Capital $35,000 Cr.; Sales, $2,100 Cr. Be sure to put beginning balances in your working papers.) The following transactions occurred in March: 9A-3. L01,2,3 (70 min) 201X March Jared Payne invested an additional $10,500 in the sneaker store. 3 Sold $700 of merchandise on account to B. Durant, sales ticket no. 50; 4 Sold $500 of merchandise on account to Ron Lanham, ss ticket no. 51; 9 Sold $200 of merchandise on account to Jim Zamara, sales ticket no. 52; terms, 4/10, n/30. terms 4/10, n/30. terms 4/10, n/30. Received cash from B. Durant in payment of March 3 transaction, sales ticket no. 50, less discount. Sold $3,000 of merchandise on account to Penny Pry, sales ticket no. 53; terms 4/10, n/30. Received cash payment from Ron Lanham in payment of March 4 transaction, sales ticket no. 51 Collected cash sales, $3,400. Issued credit memorandum no. 1 to Penny Pry for $2,000 of merchandise returned from March 20 sales on account. Received cash from Penny Pry in payment of March 20, sales ticket no. 53 (Don't forget about the credit memo and discount.) Collected cash sales, $6,200. Sold sneaker rack equipment for $150 cash. (Beware, sold at cost.) Sold merchandise priced at $3,400, on account to Ron Lanham, sales ticket no. 54; terms 4/10, n/30. Issued credit memorandum no. 2 to Ron Lanham for $595 of merchandise returned from March 30 transaction, sales ticket no. 54. 10 20 Check Figure: Schedule of accounts receivable 22 $5,155 23 24 26 28 30 30 31 Required 1. Jounalize the transactions 2. Record to the accounts receivable subsidiary ledger and post to the gen eral ledger as needed 3. Prepare a schedule of accounts receivable for the end of March