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(a) Post information from the journals in Part 2 to the general ledger and the accounts receivable and accounts payable subsidiary ledgers. [The following information applies to the questions displayed below.] Church 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 $39,000 of nerchandise from Van Industries, terns 2/15,n/30. Sold merchandise on credit to Min Cho, Invoice No. 854, for $15,600 (cost is $7,800). (a) Purchased $1,170 of office supplies on credit from Gabel Conpany, terms n/30. (b) Sold nerchandise on credit to Linda Witt, Invoice No. 855 , for $7,800 (cost is $3,900 ). Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. Purchased $19,500 of office equipment on credit from Spell Supply, terms n/30. Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,900 (cost is $1,95e ). Received payment from Min Cho for the March' 2 sale less the discount of $312. (a) Sent Van Industries Check No. 416 in paysent of the March 1 invoice less the discount of $780. (b) Received payment from Linda Witt for the March 3 sale less the discount of $156. Purchased $25,000 of merchandise from the co company, terms 2/10,n/30. (a) Issued Check No. 417 for $16,900, payee is Payroll, in payment of sates salaries expense for the first half of the month. (b) Cash sales for the first half of the month are $62,400 (cost is $49,920 ). These cash sales are recorded in the cash receipts journat on March 15. Purchased $1,690 of store supplies on credit from Gabel Company, terms n/30. Returned \$2,500 of unsatisfactory merchandise purchased on March 14 to CD Coapany. Church reduces accounts payable by that asount. Returned $585 of office equipment purchased on March 9 to 5 petl Supply. Church reduces accounts . payable by that anount. Received payment fron Jovita Albany for the sale of March 10 less the discount of $78. issued Check No, 418 to CD Conpany in payment of the March 14 purchase less the March 17 return and the $450 discount. Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $11,700 (cost is $4,680 ). Sold serchandise on credit to Linda Witt, Invoice No. 858 , for $4,680 (cost is $1,872 ). (a) Issued Check No. 419 for $16,900, payee is Payroll, in paynent of sates sataries expense for the last hatf of the nonth. 31 (b) Cash sales for the last half of the month are $63,640 (cost is $41,184 ). These cash sales are recorded in the cash receipts journal on March 31 . 31 (c) Verify that anounts inpacting custoner and creditor accounts were posted and that any anounts that should have been posted os individual anounts to the general tedger accounts were posted. foot and crossfoot the journals and make the month-end postings. Assume the following ledger account amounts inventory (March 1 beg, bal. is \$63,000), Z. Church, Copital (March 1 beg. bal, is $63.000 ) and Church Company uses the perpetual inventory system
