Problem 7-1A (Algo) Special journals, subsidiary ledgers, trial balance LO P1, P2, P3, P4 [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). March 1 March 2 March 3 (a) March 3 (b) March 6 March 9 March 10 March 12 March 13 (a) March 13 (b) March 14 March 15 (a) Purchased $38,000 of merchandise from Van Industries, terms 2/15, n/30. Sold merchandise on credit to Min Cho, Invoice Number 854, for $15,200 (cost is $7,600). Purchased $1,140 of office supplies on credit from Gabel Company, terms n/30. Sold merchandise on credit to Linda Witt, Invoice Number 855, for $7,600 (cost is $3,800). Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. Purchased $19,000 of office equipment on credit from Spell Supply, terms n/30. Sold merchandise on credit to Jovita Albany, Invoice Number 856, for $3,800 (cost is $1,900). Received payment from Min Cho for the March 2 sale less the discount of $304. Sent Van Industries Check Number 416 in payment of the March 1 invoice less the discount of $760. Received payment from Linda Witt for the March 3 sale less the discount of $152. Purchased $30,000 of merchandise from the CD Company, terms 2/10, n/30. Issued Check Number 417 for $12,300; payee is Payroll, in payment of sales salaries expense for the first half of the month. March 15 (b) Cash sales for the first half of the month are $60,800 (cost is $48,640). These cash sales are recorded in the cash receipts journal on March 15. March 16 March 17 March 19 Purchased $1,660 of store supplies on credit from Gabel Company, terms n/30. Returned $3,000 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. Returned $570 of office equipment purchased on March 9 to Spell Supply. Church reduces accounts payable by that amount.