Problem All-1A Special journals and subledgers-perpetual Clo2, 23, 24 Moore Corporation is a major distributor of office supplies. All sales are on terms 1/10, n/15. During March, the following selected transactions occurred. For each transaction, identify into which special journal it should be journalized. Also indicate which subledger(s) is (are) affected. Use the list of codes to label your answers. Moore Corporation uses a perpetual inventory system. AR S P Special Journals Sales Purchases. Cash Receipts Cash Disbursements General Journal Subledgers Accounts Receivable. Accounts Payable Merchandise Inventory No Effect AP MI CR NE CD G Special Journal Subledger(s) Date Transaction Mar. 1 Sold merchandise on credit. 2 Defective merchandise sold on March 1 was returned by the customer. It was scrapped. 3 Purchased office equipment on credit terms n/30. 5 Received payment regarding the March 1 sale. 10 Received a credit memo from the supplier regarding defective equipment purchased on March 3. 14 Sold merchandise for cash. 16 Purchased merchandise inventory on credit: terms 1/5. n/30. Purchases. P CR Cash Receipts.... Cash Disbursements... General Journal Accounts Payable AP Merchandise Inventory..... MI No Effect NE CD G Special Journal Subledger(s) Date Transaction Mar. 1 Sold merchandise on credit. 2 Defective merchandise sold on March 1 was returned by the customer. It was scrapped. 3 Purchased office equipment on credit terms n/30. 5 Received payment regarding the March 1 sale. 10 Received a credit memo from the supplier regarding defective equipment purchased on March 3. 14 Sold merchandise for cash. 16 Purchased merchandise inventory on credit: terms 1/5. n/30. 17 Paid the balance owing on the March 3 transaction. 18 Purchased merchandise inventory for cash. 21 Paid for the merchandise purchased on March 16. 22 Sold old equipment for cash. 30 Paid salaries for the month of March, 30 Accrued utilities for the month of March 30 Closed the credit balance in the Income Summary to Capital. Page AP 38