OverPriced Jeans, Inc. Transactions Additional Information Date March 2021 Transactions Description of the Transaction March 1 Owners of OPJ invested an additional $55,000 cash into the business. The cash is put into Big Bank (As an example of how to journalize and post a transaction-mis transaction has already been entered into the General Journal and posted to the General Ledger) March 1 Pay off the $60,000 Note Payable owed to Little Bank. The cash to pay off the note is taken out of Big Bank Also pay to Little Bank $450 for interest owed on the Note Payable for February The $450 cash is also taken out of Big Bank March 1 Take $5,000 cash out of Big Bank to pay for March's rent March 2 The customer that purchased on credit on February 15 pays $88,000 cash to pay off the amount due. The cash is deposited into Big Bank March 10 Sale of inventory to a customer-selling price $73.000-cost of the inventory sold $23,000 The customer pays cash. The cash is deposited into Little Bank March 15 Take $26,000 cash out of Little Bank to pay employees for wages they have earned March 16 Purchase $79,750 of additional inventory OPJ will pay the manufacturer 50% of the $79.750 in 10 days OPJ will pay the remaining 50% in 30 days: Directions Trans Chart Accts Journal GL Assets GL Lab Equity GL Ray-Exp Trial Bal IS & RE Baisht Clyboard Font M Algnment Number March 15 Take $26 000 cash out of Late Bank to pay employees for wages they have came March 16 Purchase $79,750 of additional mentory OP will pay the manufacturer 50% of the $79,750 in 10 days OP will pay the remaining 50% in 30 days March 17 Sale of mentory to a customer-being price $113,000 cost of the invertory suid $33000 The customer will pay for the purchase in 30 days March 20 Sae fintary to a customer-selling price $165.500-cost of the inventory sold S40.750 The customer pays $35.500 cash that is deposited into Late Bank The sustomer will pay the remaining amount in 30 days March 22 Purchase motory for 542 000 cash. The can i tan out of gene March 25 Pay the manufacturer the 50% due on the March 16th purchase of inventory The cash out of Big Bank March 30 Tale $10,500 cash out of Lattle Bank to pay employees for wages they have se Note Payable Big Bank Additional information at due to Big Bank an the Nots Payable for the manth March is $900 As a Man 311 OFU owes Big Blank stal of $1.500 at 15600 for February $500 March Big Bank in Ju interest will be paid to Qii 223 Select