PLEASE PLEASE HELP DUE IN 4 HOURS

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 $37,000 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30.
		2				Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,800 (cost is $7,400).
		3		(a)		Purchased $1,110 of office supplies on credit from Gabel Company, invoice dated March 3, terms n/10 EOM.
		3		(b)		Sold merchandise on credit to Linda Witt, Invoice No. 855, for $7,400 (cost is $3,700).
		6				Borrowed $72,000 cash from Federal Bank by signing a long-term note payable.
		9				Purchased $18,500 of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOM.
		10				Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,700 (cost is $1,850).
		12				Received payment from Min Cho for the March 2 sale less the discount.
		13		(a)		Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount.
		13		(b)		Received payment from Linda Witt for the March 3 sale less the discount.
		14				Purchased $33,000 of merchandise from the CD Company, invoice dated March 13, terms 2/10, n/30.
		15		(a)		Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $16,000. Cashed the check and paid the employees.
		15		(b)		Cash sales for the first half of the month are $59,200 (cost is $47,360). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.)
		16				Purchased $1,630 of store supplies on credit from Gabel Company, invoice dated March 16, terms n/10 EOM.
		17				Received a $3,300 credit memorandum from CD Company for the return of unsatisfactory merchandise purchased on March 14.
		19				Received a $555 credit memorandum from Spell Supply for office equipment received on March 9 and returned for credit.
		20				Received payment from Jovita Albany for the sale of March 10 less the discount.
		23				Issued Check No. 418 to CD Company in payment of the invoice of March 13 less the March 17 return and the discount.
		27				Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $11,100 (cost is $4,440).
		28				Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,440 (cost is $1,776).
		31		(a)		Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $16,000. Cashed the check and paid the employees.
		31		(b)		Cash sales for the last half of the month are $65,120 (cost is $39,072).
		31		(c)		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.

Assume the following ledger account amounts Inventory (March 1 beg. bal. is $65,000), Z. Church, Capital (March 1 beg. bal. is $65,000) and Church Company uses the perpetual inventory system.

• Trial Balance
• Schedule of AR
• Schedule of AP

Prepare the March 31 schedule of accounts receivable.

CHURCH COMPANY
Schedule of Accounts Receivable
March 31
Jovita Albany
Linda Witt
Min Cho
Total accounts receivable	$0

• Trial Balance
• Schedule of AR
• Schedule of AP

Prepare the March 31 schedule of accounts payable.

CHURCH COMPANY
Schedule of Accounts Payable
March 31
Gabel Company
Spell Supply
Van Industries
CD Company
Total accounts payable	$0

GENERAL LEDGER Cash Debit Accounts Receivable Debit Credit Balance Date Credit Balance Date Mar 31 (c) Cash Rec. Journal Mar. 31 (c) Cash Disb. Journal Mar. 31 (c) Sales Journal Mar. 31 (c) Cash Rec. Journal Inventory Debit Credit Balance Office Supplies Debit 1,110 Credit Date Mar. 03 (a) Balance 1,110 Date Mar. 01 Mar. 31 (c) Purch. Journal Mar 31 (c) Sales Journal Mar. 31 (c) Cash Rec. Journal Store Supplies Debit 1,630 Office Equipment Debit Date Credit Date Credit Balance Balance 1,630 Mar. 16 Mar. 09 Accounts Payable Debit Long-Term Notes Payable Debit Credit Credit Balance Date Balance Date Mar 31 (c) Purch. Journal Mar. 31 (c) Cash Disb. Journal Mar. 06 Z. Church, Capital Debit Sales Debit Date Credit Date Credit Balance Balance 65,000 Mar. 01 Mar. 31 (c) Sales Journal Mar 31 (c) Cash Rec. Journal Sales Discounts Debit Cost of Goods Sold Debit Date Credit Balance Credit Balance Date Mar. 31 (c) Sales Journal Journal Date Credit Date Credit Sales Salaries Expense Debit 15,000 15,000 Jovita Albany Debit 3,700 11,100 Mar. 15 (a) Balance 15,000 30,000 Mar. 10 Mar. 27 Mar. 20 Balance 3,700 14,800 11,100 3,700 Date Min Cho Debit 14,800 Credit Credit Balance 14,800 Linda Witt Debit 7,400 4,440 Mar. 02 Date Mar. 03 (b) Mar. 28 Mar. 13 (b) Balance 7,400 11,840 4,440 7,400 ACCOUNTS PAYABLE LEDGER CD Company Debit Credit 33,000 3,300 X Gabel Company Debit Date Balance 33,000 29,700 Date Mar. 03 (a) Credit 1,110 Balance 1,110 Mar. 14 Mar. 23 Spell Supply Debit Van Industries Debit Data Date Credit Balance Credit 37,000 Balance 37,000 Mar. 09 Mar. 01 Credit CHURCH COMPANY Trial Balance March 31 Debit Cash Inventory Office supplies Store supplies Office equipment Accounts payable Long-term notes payable Z. Church, Capital Sales salaries expense