Required Information Problem 7-1A 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 1/10. n/30). Mar. 1 Purchased $33,eee of merchandise from Van Industries, terms 1/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $13,2ee (cost is $6,680). 3 (a) Purchased $990 of office supplies on credit from Gabel Company, terms n/30. 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $6,680 (cost is $3,300). 6 Borrowed $72,000 cash from Federal Bank by signing a long-term pote payable. 9 Purchased $16,5ee of office equipment on credit from Spell Supply, terms n/30. 10 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,300 (cost is $1,650). 12 Received payment from Min Cho for the March 2 sale less the discount of $132. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount of $330. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount of $66. 14 Purchased $31,000 of merchandise from the CD Company, terms 1/10, n/30. 15 (a) Issued Check No. 417 for $15,300, payee is Payroli, in payment of sales salaries expense for the first half of the month, 15 (b) Cash sales for the first half of the month are $52,800 (cost is $42, 240). These cash sales are recorded in the cash receipts journal on March 15. 16 Purchased $1,51e of store supplies on credit from Gabel Company, terms n/3e. 17 Returned $3,109 of unsatisfactory merchandise purchased on March 14 to co Company. Church reduces accounts payable by that amount. 19 Returned $495 of office equipment purchased on March 9 to Spell Supply Church reduces accounts payable by that amount 20 Received payment from Jovita Albany for the sale of March 10 less the discount of $33. Issued Check No. 418 to co Company in payment of the March 14 purchase less the March 17 return and the $279 discount 27 Sold merchandise on credit to Jovita Albany, Invoice No. 857 for $9,000 (cost is $3,960), 28 Soid merchandise on credit to Linda Witt, Invoice No. 858, for $3,960 (cost is $1,584). 31 (a) Issued Check No. 419 for $15,380, payee is Payroll, in payment of sales salaries expense for the last half of the month 31 (b) Cash sales for the last half of the month are 358,080 (cost is $34,848). These cash sales are recorded in the cash receipts journal on March 31. 31 (c) Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual atouts to the teneral 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 bak is $62.000). Z. Church, Capital (March 1 beg bal. Is $62,000) and Church Company uses the perpetual Inventory system, Problem 7-1A Part 3 (a) Post information from the journals in Part 2 to the general ledger and the accounts receivable and accounts payable subsidiary ledgers. GENERAL LEDOER Accounts Receivable Debit Date Credit Flatange Dett Credit Balance Inventory Debit Office Supplies Debit Credit Date Balance Date Credit Balance Mar 01 Store Supplies Debit Office Equipment Debit Credit Date Balance Date Balance Credit Recounts ayable Long Term Not avail Crodh Faluno Date Balance Sales z. Church Capital Det Balance Datu Credit Crest Tatate Date Mar. 01 Sales Discounts Debit Cost of Goods Sold Debit Date Balance Credit Date Batano Credit Sales salaries Expense Debit ACCOUNTS RECEIVABLE LEDGER Jovita Albany Debit Credit Date Credit Balance Date Balance Min Cho Debit Lind Witt Debit Credit Balance Date Date Credit Balante Gabel Company ACCOUNTS PAYABLE LEDGER CD Company Debit Credit Debit Date Credit Balance Dato Balance Spell Supply Debit Van Industries Debit Credit Date Date Balance Balance Credit Complete this question by entering your answers in the tabs below. Trial Balance Schedule of AR Schedule of AP Prepare the March 31 trial balance. CHURCH COMPANY Trial Balance March 31 Debit Credit Totals S 0$ Schedule of AR > Complete this question by entering your answers in the tabs below. 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 A (Trial Balance Schedule of AP > Complete this question by entering your answers in the tabs below. 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