please do only the purchase journal and its ledgers like gow the picture has it in columns

Bishop 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 $42,600 of merchandise from Soy Industries, invoice dated March 1, terms 2/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854 , for $15,800( cost is $7,900). 3 Purchased $1,120 of office supplies on credit from Stacy Company, invoice dated March 3 , terms n/10 EOM. 3 Sold merchandise on credit to Lance Snow, Invoice No. 855, for $9,200 (cost is $4,600 ). 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. 9 Purchased $20,850 of office equipment on credit from Tells Supply, invoice dated March 9 . terms n/10 EOM. 10 Sold merchandise on credit to Taylor Few, Invoice No. 856 , for $4,600 (cost is $2,300 ). 12 Received payment from Min Cho for the March 2 sale less the discount. 13 Sent Soy Industries Check No. 416 in payment of the March 1 invoice less the discount. 13 Received payment from Lance Snow for the March 3 sale less the discount. 14 Purchased $31,625 of merchandise from the JW Company, invoice dated March 13, terms 2/10, n/30. 15 Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $15,900. Cashed the check and paid the employees. 15 Cash sales for the first half of the month are $164,680 (cost is $138,000 ). (Cash sales are $. corded daily, but are recorded only twice here to reduce repetitive entries.) 16 Purchased \$1,670 of store supplies on credit from Stacy Company, invoice dated March 16 , terms n/10 EOM. 17 Received a $2,425 credit memorandum from JW Company for the return of unsatisfactory mer. chandise purchased on March 14. 19 Received a $630 credit memorandum from Tells Supply for office equipment received on March 9 and returned for credit. 20 Received payment from Taylor Few for the sale of March 10 less the discount. 23 Issued Check No. 418 to JW Company in payment of the invoice of March 13 less the March 17 return and the discount. 27 Sold merchandise on credit to Taylor Few, Invoice No. 857, for $13,910 (cost is $6,220 ). 28 Sold merchandise on credit to Lance Snow, Invoice No. 858, for $5,315 (cost is $2,280 ). 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, \$15,900. Cashed the check and paid the employees. 31 Cash sales for the last half of the month are $174,590 (cost is $143,000 ). 31 Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the month-end postings. Required 1. Open the following general ledger accounts: Cash; Accounts Receivable; Inventory (March 1 beg. bal. is $300,000 ); Office Supplies; Store Supplies; Office Equipment; Accounts Payable; Long-Term Noces Payable; M. Bishop, Capital (March 1 beg. bal. is $300,000 ); Sales; Sales Discounts; Cost of Goods Sold; and Sales Salaries Expense. Open the following accounts receivable subsidiary ledger accounts: Taylor Few, Min Cho, and Lance Snow. Open the following accounts payable subsidiary ledger accounts: Stacy Company, Soy Industries, Tells Supply, and JW Company. 2. Enter these transactions in a sales journal like Exhibit 7.5, a purchases journal like Exhibit 7.9, a cash receipts journal like Exhibit 7.7, a cash disbursements journal like Exhibit 7.11, or a general journal. Number all journal pages as page 2. Purchases A purchases jousthy a dify thed to tecord all credit purchases, including those for inven- Journalizing Entries in the purchases journal in Exhibit 7.9 reflect purchase invoices or other source documents. We use the invoice date and terms to compute the date when payment for each purchase is due. The Accounts Payable Cr. column is used to record the amounts owed to each creditor. Inventory purchases are recorded in the Inventory Dr. column. To illustrate, inventory costing $200 is purchased from Ace Manufacturing on February 5 . The creditor's name (Ace) is entered in the Account column, the invoice date is entered in the Date of Invoice column, the purchase terms are entered in the Terms column, and the $200 amount is entered in the Accounts Payable Cr. and the Inventory Dr columns. When a purchase involves an amount recorded in the Other Accounts Dr. column, we use the Account column to identify the general ledger account debited. For example, the February 28 transaction involves Point flue namber of becal jomes purchases of inventory, office supplies, and store supplies from ITT. The journal has no column for store supplies, so the Other Accounts De. column is used. In this case, Store Supplies is entered in the Account column along with the creditor's name (ITT). This purchases journal also includes a separate column for credit purchases of office supplies. A separnte column such as this is usefal when several transactions involve debits to the same account. Each company uses its own judgment in deciding on the number of separate columns necessary. Posting The amounts in the Accounts Payable Cr. column are immediately posted to individual creditor accounts in the accounts payable subsidiury ledger. Individual amounts in the Other Accounts Dr. column are immediately posted to their general ledger accounts. At the end EXHIBIT 7.9 we posart Cin Bishop 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 $42,600 of merchandise from Soy Industries, invoice dated March 1, terms 2/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854 , for $15,800( cost is $7,900). 3 Purchased $1,120 of office supplies on credit from Stacy Company, invoice dated March 3 , terms n/10 EOM. 3 Sold merchandise on credit to Lance Snow, Invoice No. 855, for $9,200 (cost is $4,600 ). 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. 9 Purchased $20,850 of office equipment on credit from Tells Supply, invoice dated March 9 . terms n/10 EOM. 10 Sold merchandise on credit to Taylor Few, Invoice No. 856 , for $4,600 (cost is $2,300 ). 12 Received payment from Min Cho for the March 2 sale less the discount. 13 Sent Soy Industries Check No. 416 in payment of the March 1 invoice less the discount. 13 Received payment from Lance Snow for the March 3 sale less the discount. 14 Purchased $31,625 of merchandise from the JW Company, invoice dated March 13, terms 2/10, n/30. 15 Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $15,900. Cashed the check and paid the employees. 15 Cash sales for the first half of the month are $164,680 (cost is $138,000 ). (Cash sales are $. corded daily, but are recorded only twice here to reduce repetitive entries.) 16 Purchased \$1,670 of store supplies on credit from Stacy Company, invoice dated March 16 , terms n/10 EOM. 17 Received a $2,425 credit memorandum from JW Company for the return of unsatisfactory mer. chandise purchased on March 14. 19 Received a $630 credit memorandum from Tells Supply for office equipment received on March 9 and returned for credit. 20 Received payment from Taylor Few for the sale of March 10 less the discount. 23 Issued Check No. 418 to JW Company in payment of the invoice of March 13 less the March 17 return and the discount. 27 Sold merchandise on credit to Taylor Few, Invoice No. 857, for $13,910 (cost is $6,220 ). 28 Sold merchandise on credit to Lance Snow, Invoice No. 858, for $5,315 (cost is $2,280 ). 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, \$15,900. Cashed the check and paid the employees. 31 Cash sales for the last half of the month are $174,590 (cost is $143,000 ). 31 Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the month-end postings. Required 1. Open the following general ledger accounts: Cash; Accounts Receivable; Inventory (March 1 beg. bal. is $300,000 ); Office Supplies; Store Supplies; Office Equipment; Accounts Payable; Long-Term Noces Payable; M. Bishop, Capital (March 1 beg. bal. is $300,000 ); Sales; Sales Discounts; Cost of Goods Sold; and Sales Salaries Expense. Open the following accounts receivable subsidiary ledger accounts: Taylor Few, Min Cho, and Lance Snow. Open the following accounts payable subsidiary ledger accounts: Stacy Company, Soy Industries, Tells Supply, and JW Company. 2. Enter these transactions in a sales journal like Exhibit 7.5, a purchases journal like Exhibit 7.9, a cash receipts journal like Exhibit 7.7, a cash disbursements journal like Exhibit 7.11, or a general journal. Number all journal pages as page 2. Purchases A purchases jousthy a dify thed to tecord all credit purchases, including those for inven- Journalizing Entries in the purchases journal in Exhibit 7.9 reflect purchase invoices or other source documents. We use the invoice date and terms to compute the date when payment for each purchase is due. The Accounts Payable Cr. column is used to record the amounts owed to each creditor. Inventory purchases are recorded in the Inventory Dr. column. To illustrate, inventory costing $200 is purchased from Ace Manufacturing on February 5 . The creditor's name (Ace) is entered in the Account column, the invoice date is entered in the Date of Invoice column, the purchase terms are entered in the Terms column, and the $200 amount is entered in the Accounts Payable Cr. and the Inventory Dr columns. When a purchase involves an amount recorded in the Other Accounts Dr. column, we use the Account column to identify the general ledger account debited. For example, the February 28 transaction involves Point flue namber of becal jomes purchases of inventory, office supplies, and store supplies from ITT. The journal has no column for store supplies, so the Other Accounts De. column is used. In this case, Store Supplies is entered in the Account column along with the creditor's name (ITT). This purchases journal also includes a separate column for credit purchases of office supplies. A separnte column such as this is usefal when several transactions involve debits to the same account. Each company uses its own judgment in deciding on the number of separate columns necessary. Posting The amounts in the Accounts Payable Cr. column are immediately posted to individual creditor accounts in the accounts payable subsidiury ledger. Individual amounts in the Other Accounts Dr. column are immediately posted to their general ledger accounts. At the end EXHIBIT 7.9 we posart Cin