Journalize the March transactions of Angle Gaming (company name), the company adopts the periodic system, round numbers to integers.
Share Premium - Ordinary Share Premium - Preference Share Premium - Treasury Supplies Treasury Shares (15,000 shares) 560,000 200,000 6,000 6,240 37,500 Mar 1(a) Purchased children laptop toys from AMB Limited, $93,000, terms 1/10, n/30, FOB shipping point. (b)The responsible party paid the freight charges of $400. The goods were collected by the shipping company on 1 March and arrived at Angle Gaming's warehouse on 4 March. 1(c) Sold 15,000 Treasury shares at $2 each. 1(d) Purchased 10% shareholding in CHO Limited, a supplier, as a long-term investment. The fair value of the 10% shareholding was $2,000,000 as at 1 March. The purchase consideration included a $1,800,000 note receivable due from CHO Limited and the related interest receivable balance of $96,000, $94,000 cash and a motor vehicle owned by Angle Gaming. The motor vehicle was originally obtained at $80,000. 1(e) Sold remote control helicopters valued at $298,000 to VIN Limited, a wholesaler, terms n/20, FOB destination. The appropriate party paid delivery charges of $500. The goods were shipped on 1 March and arrived at the warehouse of VIN Limited on 3 March. 2 A 10% share dividend was declared when the market value per share was $2.1. 3 Cash is received from VIN Limited for the remote-control helicopters shipped on 1 March and arrived at the warehouse of VIN Limited on 3 March. 4 Sold kids ride on cars to GAV Limited, $83,300, terms n/30, FOB shipping point. The appropriate party paid freight charges of $315. The goods were shipped on 4 March and arrived at the warehouse of GAV Limited on 6 March. 5 The management determined that the amount due from a customer, TOY Limited, $34,500 is uncollectible as the company has closed down. 6 Purchased supplies of $3,900 on account from JY Printing and Stationery Limited. 7(a) Paid cash to acquired 20,000 shares of its own at $2.3 each. 7(b) Received credit memorandum of $1,200 from AMB Limited for goods purchased in March. 8 Granted GAV Limited an allowance of $980 (original price) due to discrepancy in the color of the ride on cars. 9 Sold flying disc and toy swings to ACT Limited, list price of $82,075 with a 20% trade discount, n/20, FOB shipping point. The responsible party paid freight-charges of $640. The shipping document showed that the goods arrived at the warehouse of ACT Limited on 12 March. 10 Paid AMB Limited for the children laptop toys bought on 1 March and the amount of $140,000 on account for the purchase on 29 February. Purchases terms with AMB Limited in February was 2/10, n/30, FOB shipping point. Share Premium - Ordinary Share Premium - Preference Share Premium - Treasury Supplies Treasury Shares (15,000 shares) 560,000 200,000 6,000 6,240 37,500 Mar 1(a) Purchased children laptop toys from AMB Limited, $93,000, terms 1/10, n/30, FOB shipping point. (b)The responsible party paid the freight charges of $400. The goods were collected by the shipping company on 1 March and arrived at Angle Gaming's warehouse on 4 March. 1(c) Sold 15,000 Treasury shares at $2 each. 1(d) Purchased 10% shareholding in CHO Limited, a supplier, as a long-term investment. The fair value of the 10% shareholding was $2,000,000 as at 1 March. The purchase consideration included a $1,800,000 note receivable due from CHO Limited and the related interest receivable balance of $96,000, $94,000 cash and a motor vehicle owned by Angle Gaming. The motor vehicle was originally obtained at $80,000. 1(e) Sold remote control helicopters valued at $298,000 to VIN Limited, a wholesaler, terms n/20, FOB destination. The appropriate party paid delivery charges of $500. The goods were shipped on 1 March and arrived at the warehouse of VIN Limited on 3 March. 2 A 10% share dividend was declared when the market value per share was $2.1. 3 Cash is received from VIN Limited for the remote-control helicopters shipped on 1 March and arrived at the warehouse of VIN Limited on 3 March. 4 Sold kids ride on cars to GAV Limited, $83,300, terms n/30, FOB shipping point. The appropriate party paid freight charges of $315. The goods were shipped on 4 March and arrived at the warehouse of GAV Limited on 6 March. 5 The management determined that the amount due from a customer, TOY Limited, $34,500 is uncollectible as the company has closed down. 6 Purchased supplies of $3,900 on account from JY Printing and Stationery Limited. 7(a) Paid cash to acquired 20,000 shares of its own at $2.3 each. 7(b) Received credit memorandum of $1,200 from AMB Limited for goods purchased in March. 8 Granted GAV Limited an allowance of $980 (original price) due to discrepancy in the color of the ride on cars. 9 Sold flying disc and toy swings to ACT Limited, list price of $82,075 with a 20% trade discount, n/20, FOB shipping point. The responsible party paid freight-charges of $640. The shipping document showed that the goods arrived at the warehouse of ACT Limited on 12 March. 10 Paid AMB Limited for the children laptop toys bought on 1 March and the amount of $140,000 on account for the purchase on 29 February. Purchases terms with AMB Limited in February was 2/10, n/30, FOB shipping point
