Required information Problem 7-1A Special journals, subsidiary ledgers, trial balance-perpetual LO C3, P1, P2 (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 3/10, n/30) Mar. 1 n/30 Purchased $40,000 of merchandise from Van Industries, invoice dated March 1, terms 3/15, 2Sold merchandise on credit to Min Cho, Invoice No. 854, for $16,000 (cost is s8, 3 (a) Purchased $1,200 of office supplies on credit from Gabel Company, invoice dated March 3, 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $8,000 (cost is $4,000). 9 terms n/10 EOM 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. Purchased $20,00e of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOM. Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $4 Received payment from Min Cho for the March 2 sale less the discount 10 ,e00 (cost is $2,e00). 12