Problem 7-1A Special journals, subsidiary ledg 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 ers, trial balance-perpetual LO C3, P1. P2 Purchased $36,000 of merchandise from Van Industries Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,4ee ( , invoice dated March 1, teres 3/15, n/30 cost is $7,288) 3 (a) Purchased $1,ese of office supplies on credit fron Gabel Company, invoice dated Harch 3, teres n/18 E0m 3 (b) sold merchandise on credit to Linda witt, Invoice No. 855, for $7,28e (cost is $3,6e0) 9 Purchased $18,e89 of office equipment on credit fron Spell Supply, invoice dated Harch 9, terms n/10 Eom, 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount $72,880 cash from Federal Bank by signing long-term note payoble. Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,600 (cost is $1,aee) 13 (b) Received payment from inda Witt for the March 3 sale less the discount 15 (a) Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the 15 (b) Cash sales for the first half of the month are $57,600 (cost is $46,880). (Cash sales are recorded daily, 16 Purchased $1,688 of store supplies on credit from Gabel Company, invoice dated March 16, terns n/18 EoM Received payment from Min Cho for the March 2 sale less the discount Purchased $33,00e of merchandise from the CD Company, invoice dated March 13, terms 3/16, n/3e month, $16,288. Cashed the check and paid the employees but are recorded only twice here to reduce repetitive entries.) 17 Received a $3,3ee credit menorandun from CD Company for the return of unsatisfactory merchandise purchased 19 Received a 5548 credit menorandun from Spell Supply for office equipment received on Harch 9 and returned 2 Received payment from Jovite Albany for the sale of March 1e less the discount Issued Check No. 418 to CD Company in payment of the invoice of March 13 Less the Harch 17 return and the sold nerchandise on credit to Jovite Albany, Invoice No. 857, for $18,809 (cost is $4,32) 28 Sold merchandise on credit to Linda litt, I'velce No. 858 tor (costa 31 (a) issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $16,280. Cashed the check and paid the employees 31 (b) Cash sales for the last half of the month are $63,368 (cost is i38,e16) 31 (c) Verify that amounts impacting customer and creditor accounts were posted and that any anounts that should have been posted as individual anounts 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 s60,000), Z. Church, Capital (March 1 beg bai is $60,000) and Church Company uses the perpetual inventory system