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Problem 7-1A Special journals, subsidiary ledgers, trial balance OP1 P2 P3 P4 Church Company completes these transactions and events during March of the current year
Problem 7-1A Special journals, subsidiary ledgers, trial balance OP1 P2 P3 P4 Church Company completes these transactions and events during March of the current year (terms for all credit sales are 2/10, n/30). Mar 1 Purchased $43,600 of merchandise from Van Industries, terms 2/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $16,800 (cost is $8,400). 3 Purchased $1,230 of office supplies on credit from Gabel Company, terms n/30. 3 Sold merchandise on credit to Linda Witt, Invoice No. 855, for $10,200 (cost is $5,800). 6 Borrowed $82,000 cash from Federal Bank by signing a long-term note payable. 9 Purchased $21,850 of office equipment on credit from Spell Supply, terms n/30. 10 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $5,600 (cost is $2,900). 12 Received payment from Min Cho for the March 2 sale less the discount of $336. 13 Sent Van Industries Check No.416 in payment of the March 1 invoice less the discount of $872. 13 Received payment from Linda Witt for the March 3 sale less the discount of $204. 14 Purchased $32,625 of merchandise from the CD Company, terms 2/19
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