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$\backslash$table$[[$March $3,$Purchased office supplies for cash, $$21,000.],[$March $7,$Purchased inventory on credit terms of $\frac{3}{10},$ net eom, $$92,000.],[$March $8,$Returned $18$ percent of the inventory purchased on March $7.$ It was not the inventory ordered.$],[$March $10,$Sold goods for cash, $$31,000($cost$,$ $$14,880).],[$March $13,\backslash$table$[[$Sold inventory on credit terms of $\frac{2}{15},\frac{n}{45},$ for $$147,000,$ less a $$14,700$ quantity discount offered to$],[$customers who purchase in large quantities $($cost$,$ $$70,560).]]],[$March $16,$Paid the amount owed on account from the purchase of March $7,$ less the discount and the return.$],[$March $17,\backslash$table$[[$Received wrong$-$sized inventory as a sales return from March $13$ sale, $$14,000,$ which is the net amount$],[$after the quantity discount. Adam's cost of the inventory received was $$6,720.]]],[$March $18,$Purchased inventory of $$170,000$ on account. Payment terms were $\frac{2}{10},$ net $30.],[$March $26,$Paid supplier for goods purchased on March $18.],[$March $28,$Received cash in full settlement of the account from the customer who purchased inventory on March $13.],[$March $31,\backslash$table$[[$Purchased inventory for cash, $$102,000,$ less a quantity discount of $$10,200,$ plus freight charges of$],[$$$2,800.]]]]$

Adam Distributing Company uses the perpetual inventory system and engaged in the following transactions during March of the current year:

$($Click the icon to view the transactions.$)$

Required

Journalize the preceding transactions on the books of AdamDistributing Company.

Suppose the balance in Inventory was $$24,000$ on March$1.$ What is the balance in inventory on March$31?$

Requirement $1.$ Journalize the transactions on the books of Adam Distributing Company.

March $3.$ Purchased office supplies for cash, $$21,000.($Record debits first, then credits. Exclude explanations from journal entries.$)$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[$March $3,$Office Supplies,$21000,],[$Cash$,,21000],[,,,],[,,,]]$

March $7.$ Purchased inventory on credit terms of $\frac{3}{10},$ net eom, $$92,000.$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[$March $7,$Inventory,,$]]$