Required Information Problem 7-1A (Static) 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 2/10, n/30). March 1 March 2 March 3 (a) March 3 (b) March 6 March 9 March 10 March 12 March 13 (a) Purchased $43,600 of merchandise from Van Industries, terms 2/15, n/30. Sold merchandise on credit to Min Cho, Invoice Number 854, for $16,800 (cost is $8,400). Purchased $1,230 of office supplies on credit from Gabel Company, terms n/30. Sold merchandise on credit to Linda Witt, Invoice Number 855, for $10,200 (cost is $5,800). Borrowed $82,000 cash from Federal Bank by signing a long-term note payable. Purchased $21,850 of office equipment on credit from Spell Supply, terms n/30. Sold merchandise on credit to Jovita Albany, Invoice Number 856, for $5,600 (cost is $2,980). Received payment from Min Cho for the March 2 sale less the discount of $336. Sent Van Industries Check Number 416 in payment of the March 1 invoice less the discount of $872. March 13 (b) Received payment from Linda Witt for the March 3 sale less the discount of $284. March 14 Purchased $32,625 of merchandise from the CD Company, terms 2/10, n/30. March 15 (a) March 15 (b) March 16 March 17 March 19. March 201 March 23 March 27 March 28 March 31 (a) March 31 (b) March 31 (c) Issued Check Number 417 for $18,300; payee is Payroll, in payment of sales salaries expense for the first half of the month. Cash sales for the first half of the month are $34,680 (cost is $20,210). These cash sales are recorded in the cash receipts journal on March 15. Purchased $1,770 of store supplies on credit from Gabel Company, terms n/30. Returned $2,425 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. Returned $630 of office equipment purchased on March 9 to Spell Supply. Church reduces accounts payable by that amount. Received payment from Jovita Albany for the sale of March 10 less the discount of $112. Issued Check Number 418 to CD Company in payment of the March 14 purchase less the March 17 return and the $604 discount. Sold merchandise on credit to Jovita Albany, Invoice Number 857, for $14,910 (cost is $7,220). Sold merchandise on credit to Linda Witt, Invoice Number 858, for $4,315 (cost is $3,280). Issued Check Number 419 for $18,300; payee is Payroll, in payment of sales salaries expense for the last half of the month. Cash sales for the last half of the month are $30,180 (cost is $16,820). These cash sales are recorded in the cash receipts journal on March 31. Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual amounts 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 beginning balance is $10,000); Z. Church, Capital (March 1 beginning balance is $10,000) and Church Company uses the perpetual inventory system. Problem 7-1A (Static) Part 2 Required: 2-a. Enter the transactions in a sales journal. 2-b. Enter the transactions in a purchases journal. 2-c. Enter the transactions in a cash receipts journal. 2-d. Enter the transactions in a cash payments journal. ces Required: 2-a. Enter the transactions in a sales journal. 2-b. Enter the transactions in a purchases journal 2-c. Enter the transactions in a cash receipts journal. 2-d. Enter the transactions in a cash payments journal. 2-e. Enter the transactions in a general journal. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Req 2C Req 2D Req 2E Enter the transactions in a sales journal. SALES JOURNAL Invoice Accounts Receivable Cost of Goods Sold Debit Date Account Debited Number Debit Sales Inventory Credit Credit March 02 Min Cho 854 $ 16,800 $ 8,400 March 03 Linda Witt 855 5,800 5,800 March 10 Jovita Albany 856 March 27 Jovita Albany 857 March 28 Linda Witt 858 March 31 Totals $ 22,600 $ 14,200 Req 2A Req 2B > Problem 7-1A (Static) Part 2 Required: 2-a. Enter the transactions in a sales journal. 2-b. Enter the transactions in a purchases journal. 2-c. Enter the transactions in a cash receipts journal. 2-d. Enter the transactions in a cash payments journal. 2-e. Enter the transactions in a general journal. Complete this question by entering your answers in the tabs below. Req 2A Req 28 Req 2C Req 2D Req 2E Enter the transactions in a purchases journal. PURCHASES JOURNAL Date Account Date of Invoice Terms Accounts Payable Credit Inventory Debit Office Supplies Accounts Other Debit Debit March 01 Van Industries 3/1 2/15, n/30 March 03 Office supplies/Gabel 3/3 n/30 March 09 Office equipment/Spell Supply 3/9 n/30 March 14 CD Company 3/13 2/10, 1/30 March 16 Store supplies/Gabel 3/16 n/30 March 31 Totals $ 0 $ 0 $ 0 $ 0 Required: 2-a. Enter the transactions in a sales journal. 2-b. Enter the transactions in a purchases journal 2-c. Enter the transactions in a cash receipts journal. 2-d. Enter the transactions in a cash payments journal. 2-e. Enter the transactions in a general journal. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Req 2C Req 2D Req 2E Enter the transactions in a cash receipts journal. CASH RECEIPTS JOURNAL Cost of Date Account Credited Sales Cash Debit Discount Debit Accounts Receivable Credit Other Sales Credit Accounts Credit Goods Sold Debit Inventory Credit March 06 Long-term note payable March 12 Min Cho March 13 Linda Witt March 15 Sales March 20 Jovita Albany March 31 Sales March 31 Totals $ $ 0 $ $ 0 $ 0 $ 0 ces Required: 2-a. Enter the transactions in a sales journal. 2-b. Enter the transactions in a purchases journal 2-c. Enter the transactions in a cash receipts journal. 2-d. Enter the transactions in a cash payments journal. 2-e. Enter the transactions in a general journal. Complete this question by entering your answers in the tabs below. Req 2A Req 28 Req 2C Req 2D Req 2E Enter the transactions in a cash payments journal. CASH PAYMENTS JOURNAL Other Accounts Date Check Number Cash Inventory Payee Account Debited Credit Credit Accounts Debit Payable Debit March 13 416 March 15 417 Van Industries Payroll Van Industries Sales salaries expense March 231 418 CD Company CD Company March 31 419 Payroll Sales salaries expense March 31 Totals $ 0 $ 0 $ 0 $