John Smith began a web-based computer sales and service company on March 1, 2015 called Smith's Toys Inc. The plan is to prepare monthly adjustments so that financial statements can be done each month. The following information is available for March, 2015 (assume a perpetual inventory system).

March 1 Smith invested $11,000 cash along with $9,000 of computer equipment into his new business in exchange for 400 shares. The equipment is estimated to have a useful life of 5 years and have no value after that time. 1 Purchased 7 months worth of insurance for $1,000 cash; the insurance is effective immediately. 1 Sold merchandise to Joey Juno that cost $2,900 for $3,700; terms 1/15, n30. 1 $24,000 of merchandise was purchased from Zcom Inc. on account; terms 1/10, n30. 2 Sold merchandise to Joey Juno that cost $5,300 for $6,200 cash. 9 The customer of March 1, 2015 returned $600 of their purchase due to defects; the returned merchandise will not be returned to inventory. 12 Purchased $10,000 of merchandise inventory from Oppong Corporation; terms 1/10, n30; FOB shipping point. 13 Received the March 12, 2015 purchase and paid cash of $300 for shipping. 14 Collected the balance owing regarding the March 1, 2015 sale. 15 Bought $200 of office supplies; paid cash. 15 Bought used office furniture for $1,800 cash. It is estimated that the business will use the furniture for 5 years and then donate it to a charity. 20 Paid for the merchandise purchased from Oppong Corporation on March 12, 2015. 21 Paid for the merchandise purchased from Zcom Inc. on March 1, 2015.

Additional information available at month end, March 31: A count of the office supplies showed a balance on March 31 of $50. The merchandise inventory was counted and there was a balance on hand at March 31 of $24,800. The March utility bill arrived from Epcor Utility Company; the $750 balance owing must be paid by April 15, 2015. Please make sure your final answer(s) are accurate to 2 decimal places. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and - for decrease. For example, if an account decreases equity, choose '-Equity'.

Prepare the journal entries based on the transactions that occurred from March 1 to March 31. Also, record the six adjusting entries for the month ended March 31 based on the additional information and a review of the March transactions.