March 2 Sold merchandise on credit to Min Cho, Invoice Nunber 854 , for $14,800(cost15$7,40). March 3 (a) Purchased \$1,110 of office supplies on credit from Gabel Conpany, terms n/30. March 3 (b) Sold merchandise on credit to Linda Witt, Invoice Number 855, for $7,400(cost is $3,700). March 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. March 9 Purchased $18,500 of office equipment on credit fron 5pel1Supply, terms n/30. March 10 Sold merchandise on credit to Jovita Albany, Invoice Number 856 , for $3,700 (cost is $1,85). March 12 Received paysent from Min Cho for the March 2 sale less the discount of \$148. March 13 (a) Sent Van Industries Check Number 416 in payment of the March 1 invoice less the discount of $370. March 13 (b) Received paynent from Linda Witt for the March 3 sale less the discount of $74. March 14 Purchased $32,000 of nerchandise from the CD Conpany, terms 1/10,n/30. March 15 (a) Issued Check Number 417 for \$16,800; payee is Payroti, in payment of sales salaries expense for the March 15 (b) Cash sales for the first half of the nonth are $59,200 (cost is $47,360). These cash sales are March 16. recorded in the cash receipts journal on March 15. March 16 Purchased $1,630 of store supplies on credit from Gabel Company, teras n/30. March 17 Meturned $3,200 of unsatisfactory merchandise purchased on March 14 to CD Conpany. Church reduces March 19 Returned $555 of office equipnent purchased on March 9 to Spetl Supply. Church reduces accounts March 20 payable by that anount. March 20 Aecelved payment from Jovita Albany for the sate of March 10 less the discount of \$37. March 23 Issued Check Number 418 to CD Company in payaent of the March-14 purchase less the March 17 return March 27 Sold merchandise on credit to Jovita Albany, Invoice Nunber 857 , for $11,180 (cost is $4,440). March 28 Sold merchandise on credit to Linda witt, invoice Number 858, for $4,440 (cost is $1,776). March 31 (a) Issued Check Nunber 419 for \$16,800; payee is Payroll, in payment of sales sataries expense for the March 31 (b) Cash sales for the tast half of the nonth are $65,120 (cost is $39,072). These cash sates are recorded in the cash receipts journal on March 31 . March 31 (c) Verify that anounts inpacting customer and creditor accounts were posted and that any anounts that should have been ported as individual anounts to the general ledger accounts were posted. Foot and crossfoot the journdls and nake the month-end postings. Assuine the following ledger account amounts: irventory (March 1 beginning balance is $64,000 ), Z Church, Capital (March 1 beginning balance is $64,000 ) and Church Company uses the perpetual inventory system. Enter the transactions in a cash recelpts journal. Enter the transactions in a cash payments journal. Journal entry worksheet Returned $3,200 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. Notet Enter debits before credits [The folowng informabion apples to the questors displayed belaw]. Ghutch Compary conpietes these transections and events during March of the curtent yoar flerms for all its credit salet oee 1/0. n3lo, March 1 Purchased 537,000 of nerchandise fron Van Industries, tecas 1/15, n/3e. March. Sold merchandise on credit to Min Cho, Invoice Number 854 , for 514,808 (cost is 57 , 400). March 3 (a) Purchased \$1, 110 of office supplies on credit from Gabel conpany, terins n/30. March 3 (b) Sold nerchandise on credit to Linda Witt, Invoice Nunber. 855, for $77,408 (cost is $3,780 ). March 6 Borrowed $72,000 cash fron Federal Bank by signing a long-tern note payable. March 9 Purchased $18,500 of office equipnent on credit fron Spell 5ypply, terns n/30. March 18 5otd nerchandise on credit to Jovita Albany, Invoice Nuaber 856 , for 53,700 . (cost is. 31,950 ). March 12. Received paynent from Min Cho for the March 2 sale less the discoont of $148. . March 14 Purchased $32, eee of nerchandise from the CD Cospany, terms 1/18,n/30. March 15 (a) Issued Check Nunber 417 for $16,800; payee is Payroth, in paynent of sates solaries expense for the first hatf of the mont March is (b) Cash sales for the first hatf of the nonth are $59,200 (cost is 547,360 ). These cash sales are recorded in the cash receip Harch 16 Purchased 51,638 of store suppties on credit fron Gabel Conpany, terns n/30. March 17 Returned $3,200 of unsatisfactory nerchandise purchased on March 14 to CD Conpany. Church reduces accoonts payable by that March 19 Peturned $555 of oftice equipnent purchased on March 9 to Spetl Supply. Church reduces accounts payable by. that anount. March 20 Received payeent fros Jovita Albany for the sale of March 10 less the discount of 537. March 23 Issued Check Nuaber 418 to CD Conpany in payoent of the March 14 purchase less the March 17 return and the $288 discount. Mareh 28 Sold eprehandise on credit to 2ovita Albany, Involce Nupber 857, for 511,20 , (cost is 34,440 ). Warch 31 (a) Issued Check Nubber 419 for $16, 8ed witt, Invoice Wueber 858, for 54,440 (cost is 51,776 ). March 31 (b) Cash sales for the last half of the ponth is Payroll, in paynent of sates satries expense for the last hatf of the aonthe March 31 (c) Vournat on Mareh 31 . as individual anountw pacting custener and creditor accounts were posted and that any arounts that shoutd have been posted postings. propecia inventory sybiem Enter the transactions in a general Joumal. Journal entry worksheet 2 Rebturned \$3,200 of unsatisfoctory merchandise purchased on March 14 to CD Comparw. Church reduces accounts payable by that amount. Note: Enter debits before credits. Enter the transactions in a cash payments journal March 27 Sold aerchandise on eredit to Jevita Albany, Ievolce Nunber 857 , for 511,100 (cost is 34,442). March 2e: Sold nerchandise on credit to Linda Witt, Invoice Number a58, for 94,440(cost is 52,776). March 31 (a) Issued Check. Number 419 for 516,620 ; payee is. Payroth, in payaent of sales sataries expense for the last half of the nonth. March 31 (b) Cash sales for the last half of the sonth are $65,120 (cost is 539,072 ). These cash sales are recorded in the cash receipts March 31 (c) Verify that anounts inpactiny custoser and creditor accounts were posted and that ary asounts that should hove been posted as Individal abounts to the general ledger accounts were posted. Foot and crossfeot the fouraats and nake the month-end postings. perpetual inventory tyter? Tequired: 1. Einer the transections in a saies jounal le. Emer the tranthctigns in a cash pecetits purnd. Jad Enter the trensacions in cuath peyments purnet Complete this guestien ty entering your answers in the tabs below. thiter the taansocters in a caah receitss journal. March 2 Sold merchandise on credit to Min Cho, Invoice Nunber 854 , for $14,800(cost15$7,40). March 3 (a) Purchased \$1,110 of office supplies on credit from Gabel Conpany, terms n/30. March 3 (b) Sold merchandise on credit to Linda Witt, Invoice Number 855, for $7,400(cost is $3,700). March 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. March 9 Purchased $18,500 of office equipment on credit fron 5pel1Supply, terms n/30. March 10 Sold merchandise on credit to Jovita Albany, Invoice Number 856 , for $3,700 (cost is $1,85). March 12 Received paysent from Min Cho for the March 2 sale less the discount of \$148. March 13 (a) Sent Van Industries Check Number 416 in payment of the March 1 invoice less the discount of $370. March 13 (b) Received paynent from Linda Witt for the March 3 sale less the discount of $74. March 14 Purchased $32,000 of nerchandise from the CD Conpany, terms 1/10,n/30. March 15 (a) Issued Check Number 417 for \$16,800; payee is Payroti, in payment of sales salaries expense for the March 15 (b) Cash sales for the first half of the nonth are $59,200 (cost is $47,360). These cash sales are March 16. recorded in the cash receipts journal on March 15. March 16 Purchased $1,630 of store supplies on credit from Gabel Company, teras n/30. March 17 Meturned $3,200 of unsatisfactory merchandise purchased on March 14 to CD Conpany. Church reduces March 19 Returned $555 of office equipnent purchased on March 9 to Spetl Supply. Church reduces accounts March 20 payable by that anount. March 20 Aecelved payment from Jovita Albany for the sate of March 10 less the discount of \$37. March 23 Issued Check Number 418 to CD Company in payaent of the March-14 purchase less the March 17 return March 27 Sold merchandise on credit to Jovita Albany, Invoice Nunber 857 , for $11,180 (cost is $4,440). March 28 Sold merchandise on credit to Linda witt, invoice Number 858, for $4,440 (cost is $1,776). March 31 (a) Issued Check Nunber 419 for \$16,800; payee is Payroll, in payment of sales sataries expense for the March 31 (b) Cash sales for the tast half of the nonth are $65,120 (cost is $39,072). These cash sates are recorded in the cash receipts journal on March 31 . March 31 (c) Verify that anounts inpacting customer and creditor accounts were posted and that any anounts that should have been ported as individual anounts to the general ledger accounts were posted. Foot and crossfoot the journdls and nake the month-end postings. Assuine the following ledger account amounts: irventory (March 1 beginning balance is $64,000 ), Z Church, Capital (March 1 beginning balance is $64,000 ) and Church Company uses the perpetual inventory system. Enter the transactions in a cash recelpts journal. Enter the transactions in a cash payments journal. Journal entry worksheet Returned $3,200 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. Notet Enter debits before credits [The folowng informabion apples to the questors displayed belaw]. Ghutch Compary conpietes these transections and events during March of the curtent yoar flerms for all its credit salet oee 1/0. n3lo, March 1 Purchased 537,000 of nerchandise fron Van Industries, tecas 1/15, n/3e. March. Sold merchandise on credit to Min Cho, Invoice Number 854 , for 514,808 (cost is 57 , 400). March 3 (a) Purchased \$1, 110 of office supplies on credit from Gabel conpany, terins n/30. March 3 (b) Sold nerchandise on credit to Linda Witt, Invoice Nunber. 855, for $77,408 (cost is $3,780 ). March 6 Borrowed $72,000 cash fron Federal Bank by signing a long-tern note payable. March 9 Purchased $18,500 of office equipnent on credit fron Spell 5ypply, terns n/30. March 18 5otd nerchandise on credit to Jovita Albany, Invoice Nuaber 856 , for 53,700 . (cost is. 31,950 ). March 12. Received paynent from Min Cho for the March 2 sale less the discoont of $148. . March 14 Purchased $32, eee of nerchandise from the CD Cospany, terms 1/18,n/30. March 15 (a) Issued Check Nunber 417 for $16,800; payee is Payroth, in paynent of sates solaries expense for the first hatf of the mont March is (b) Cash sales for the first hatf of the nonth are $59,200 (cost is 547,360 ). These cash sales are recorded in the cash receip Harch 16 Purchased 51,638 of store suppties on credit fron Gabel Conpany, terns n/30. March 17 Returned $3,200 of unsatisfactory nerchandise purchased on March 14 to CD Conpany. Church reduces accoonts payable by that March 19 Peturned $555 of oftice equipnent purchased on March 9 to Spetl Supply. Church reduces accounts payable by. that anount. March 20 Received payeent fros Jovita Albany for the sale of March 10 less the discount of 537. March 23 Issued Check Nuaber 418 to CD Conpany in payoent of the March 14 purchase less the March 17 return and the $288 discount. Mareh 28 Sold eprehandise on credit to 2ovita Albany, Involce Nupber 857, for 511,20 , (cost is 34,440 ). Warch 31 (a) Issued Check Nubber 419 for $16, 8ed witt, Invoice Wueber 858, for 54,440 (cost is 51,776 ). March 31 (b) Cash sales for the last half of the ponth is Payroll, in paynent of sates satries expense for the last hatf of the aonthe March 31 (c) Vournat on Mareh 31 . as individual anountw pacting custener and creditor accounts were posted and that any arounts that shoutd have been posted postings. propecia inventory sybiem Enter the transactions in a general Joumal. Journal entry worksheet 2 Rebturned \$3,200 of unsatisfoctory merchandise purchased on March 14 to CD Comparw. Church reduces accounts payable by that amount. Note: Enter debits before credits. Enter the transactions in a cash payments journal March 27 Sold aerchandise on eredit to Jevita Albany, Ievolce Nunber 857 , for 511,100 (cost is 34,442). March 2e: Sold nerchandise on credit to Linda Witt, Invoice Number a58, for 94,440(cost is 52,776). March 31 (a) Issued Check. Number 419 for 516,620 ; payee is. Payroth, in payaent of sales sataries expense for the last half of the nonth. March 31 (b) Cash sales for the last half of the sonth are $65,120 (cost is 539,072 ). These cash sales are recorded in the cash receipts March 31 (c) Verify that anounts inpactiny custoser and creditor accounts were posted and that ary asounts that should hove been posted as Individal abounts to the general ledger accounts were posted. Foot and crossfeot the fouraats and nake the month-end postings. perpetual inventory tyter? Tequired: 1. Einer the transections in a saies jounal le. Emer the tranthctigns in a cash pecetits purnd. Jad Enter the trensacions in cuath peyments purnet Complete this guestien ty entering your answers in the tabs below. thiter the taansocters in a caah receitss journal