Mitchell Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30).

Mar.		1		Purchased $45,600 of merchandise from Lane Industries, invoice dated March 1, terms 2/15, n/30.
Mar.		2		Sold merchandise on credit to Wilson Co., Invoice No. 854, for $40,800 (cost is $24,000).
Mar.		3		Purchased $1,900 of office supplies on credit from Perez Company, invoice dated March 3, terms n/10 EOM.
Mar.		3		Sold merchandise on credit to Lindsey Martin, Invoice No. 855, for $14,000 (cost is $8,400).
Mar.		6		Borrowed $86,000 cash from First Bank by signing a long-term note payable.
Mar.		9		Purchased $22,350 of office equipment on credit from Mannion Supply, invoice dated March 9, terms n/10 EOM.
Mar.		10		Sold merchandise on credit to Rita Griffin, Invoice No. 856, for $11,200 (cost is $6,700).
Mar.		12		Received payment from Wilson Co. for the March 2 sale less the discount.
Mar.		13		Sent Lane Industries Check No. 416 in payment of the March 1 invoice less the discount.
Mar.		13		Received payment from Lindsey Martin for the March 3 sale less the discount.
Mar.		14		Purchased $48,600 of merchandise from the Sanchez Co., invoice dated March 13, terms 2/10, n/30.
Mar.		15		Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $22,300. Cashed the check and paid the employees.
Mar.		15		Cash sales for the first half of the month are $38,000 (cost is $22,800). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.)
Mar.		16		Purchased $2,800 of store supplies on credit from Perez Company, invoice dated March 16, terms n/10 EOM.
Mar.		17		Received a $4,600 credit memorandum from Sanchez Co. for the return of unsatisfactory merchandise purchased on March 14.
Mar.		19		Received a $3,350 credit memorandum from Mannion Supply for office equipment received on March 9 and returned for credit.
Mar.		20		Received payment from Rita Griffin for the sale of March 10 less the discount.
Mar.		23		Issued Check No. 418 to Sanchez Co. in payment of the invoice of March 13 less the March 17 return and the discount.
Mar.		27		Sold merchandise on credit to Rita Griffin, Invoice No. 857, for $25,000 (cost is $15,000).
Mar.		28		Sold merchandise on credit to Lindsey Martin, Invoice No. 858, for $8,400 (cost is $5,000).
Mar.		31		Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $22,300. Cashed the check and paid the employees.
Mar.		31		Cash sales for the last half of the month are $34,200 (cost is $20,500).

Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Each transaction is recorded in either a special journal, or directly in the general journal. If a transaction is to be recorded in a special journal, select "Entered in special journal in the first account field. Otherwise, prepare the general journal entry. View transaction list Journal entry worksheet 2 3 4 5 6 7 8 ..... 26 Mar. 1) Purchased $45,600 of merchandise from Lane Industries, invoice dated March 1, terms 2/15, n/30. Note: Enter debits before credits. Account Title Debit Credit Date Mar 01 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. General Ledger Account Cash Debit Accounts receivable Debit Credit No. Credit No. Balance 9,000 Date Mar 01 Balance 60,000 Mar 01 Inventory R. Mitchell, Capital Debit Credit No. Debit Credit No. / Date Mar 01 Balance 25,000 Date Mar 01 Balance 94,000 Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Mitchell Company Trial Balance March 31, 2017 Account Title Credit Cash Accounts receivable Inventory R. Mitchell, Capital Debit 9,000 60,000 25,000 94,000 94,000 Total 94,000 $ Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Enter all transactions that are properly included in the Cash Disbursements Journal. CASH DISBURSEMENTS JOURNAL Other Dr Date Check Payee Account debited No. Cash Cr. Inventory Other accounts Accounts payable Dr. Mar. 31 Totals Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Enter all transactions that are properly included in the Purchases Journal. PURCHASES JOURNAL Date Account Invoice Date Terms Accounts payable Cr. &r. Inventory Dr. supprice ori acolher or Office Other supplies Dr. accounts Dr. Mar. 31 Totals Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Enter all transactions that are properly included in the Sales Journal. SALES JOURNAL Invoice number Accounts receivable Dr. Cost of goods sold Dr. Sales Cr. Inventory Cr. Date Account debited Mar. 31 Totals