Please help with general journal entries thank you!
GL0701 - Based on Problem 7-1A LO P1 Clinton 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 $46,000 of merchandise from Perez Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Martin Co., Invoice No. 854, for $45,600 (cost is $27,000). Mar. 3 Purchased $1,900 of office supplies on credit from Taylor Company, invoice dated March 3, terms n/10 EOM. Mar. 3 Sold merchandise on credit to Rita Griffin, Invoice No. 855, for $18,000 (cost is $10,800). Mar. 6 Borrowed $94,000 cash from Federal Bank by signing a long-term note payable. Mar. 9 Purchased $22,250 of office equipment on credit from Allen Supply, invoice dated March 9, terms n/10 EOM. Mar. 10 Sold merchandise on credit to Isaac Carter, Invoice No. 856, for $14,400 (cost is $8,600). Mar. 12 Received payment from Martin Co. for the March 2 sale less the discount. Mar. 13 Sent Perez Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Rita Griffin for the March 3 sale less the discount. Mar. 14 Purchased $51,800 of merchandise from the Knight 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, $23,100. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $42,000 (cost is $25,200). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $2,200 of store supplies on credit from Taylor Company, invoice dated March 16, terms n/10 EOM. Mar. 17 Received a $4,800 credit memorandum from Knight Co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,340 credit memorandum from Allen Supply for office equipment received on March 9 and returned for credit. Mar. 20 Received payment from Isaac Carter for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to Knight Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Isaac Carter, Invoice No. 857, for $32,000 (cost is $19, 200). Mar. 28 Sold merchandise on credit to Rita Griffin, Invoice No. 858, for $10,800 (cost is $6,500). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $23, 100. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $37,800 (cost is $22,700). X Answer is not complete. General General Trial Cash Rec Cash Disb Purchases Sales Require... Journal Ledger Balance Journal Journal Journal 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. Show less No Date Account Title Debit Credit 1 Mar 01 Inventory 46,000x Accounts payable 46,000X 2 Mar 02 45,600X 27,000x Accounts receivable Cost of goods sold Sales Inventory 45,600X 27,000 X 3 Mar 03 1,900X Office supplies Accounts payable 1,900 X 4 Mar 03 18,000 10,800X Accounts receivable Cost of goods sold Sales Inventory 18,000 X 10,800 x 5 Mar 06 94,000x Cash Long-term notes payable 94,000 6 Mar 09 22,250x Office equipment Accounts payable X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X 22,250X 7 Mar 10 14,400x 8,600 X Accounts receivable Cost of goods sold Sales Inventory 14,400X 8,600X 8 Mar 12 Cash Sales discounts Accounts receivable 44,688X 912X 45,600X 9 Mar 13 46,000X Accounts payable Inventory Cash 920X 45,080X 10 Mar 13 Cash Sales discounts Accounts receivable 17,640X 360 X 18,000 X | 11 Mar 14 51,800X Inventory Accounts payable 51,800 x 11 Mar 14 51,800x Inventory Accounts payable x x 51,800X 12 Mar 15 42,000 Cash Sales X 42,000x 13 Mar 15 25,200x Cost of goods sold Inventory 25,200X 14 Mar 16 2,200X Store supplies Accounts payable 2,200x 15 Mar 17 4,800 Accounts payable Inventory 4,800 16 Mar 19 3,3407 Accounts payable Office equipment 3,340 17 Mar 20 Cash Sales discounts Accounts receivable 14,112 288X ex SS SS XXX XXX XXXX XXXX XX XXXX X 14,400x 18 Mar 23 Accounts payable Inventory Cash 19 Mar 27 32,000x 19,200X Accounts receivable Cost of goods sold Sales Inventory 32,000x 19,200X X 20 Mar 28 10,800X 6,500X Accounts receivable Cost of goods sold Sales Inventory 10,800X 6,500x X 21 Mar 31 23,100X Sales salaries expense Cash 23,100X 22 Mar 31 37,800X 22,700X Cash Cost of goods sold Sales Inventory 37,800 X 22,700X
