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Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 3/10,n/30). 6 Mar. 1 Purchased $34,000 of merchandise from Van Industries, terms 3/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $13,600 (Cost is $6,800). 3 (a) Purchased $1,020 of office supplies on credit from Gabel Company, terms n/30. 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $6,800 (cost is $3,400). Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. 9 Purchased $17,000 of office equipment on credit from Spell Supply, term n/30. 10 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,400 (cost is $1,700). 12 Received payment from Min Cho for the March 2 sale less the discount of $408. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount of $1,020. 13 (b) Received payment from Linda Witt for the March 3 sale loss the discount of $204. 14 Purchased $31,000 of merchandise from the CD Company, terms 3/10, n/30. 15 (al Issued Check No. 417 for $13,200, payee As Payroll, in payment of sales salaries expense for the first half of the month. 15 (b) Cash sales for the first halt of the month are $54,400 (cost $43,520). These cash sales are recorded in the cash receipts journal on March 15. 16 Purchased $1,540 of store supplies on credit from Gabel Company, termo n/30. 17 Returned $3,100 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. 19 Returned $510 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 $102. 23 Issued Check No. 418 to CD Company in payment of the March 14 purchase lens the March 17 return and the $837 discount. 27 Sold merchandise on credit to Jovita Albany, Invoice No. 857 for $10,200 (cost is $4,080). 28 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,080 (cost is $1,632). 31 (a) Issued Check No. 419 for $13,200, 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 $59.840 (cost is $35,904). 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 ponted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the month-end postinga. Assume the following ledger account amounts Inventory (March 1 beg, balis $63,000), Z. Church Capital (March 1 beg. bal. is $63,000) and Church Company uses the perpetual inventory system Enter the transactions in a sales journal. SALES JOURNAL Date Account Debited Invoice Number Accounts Receivable Dri Sales CM Cost of Goods Sold Dr. Inventory or Mar. 31 Totals Enter the transactions in a purchases journal. PURCHASES JOURNAL Dato Account Date of Invoice Terms Accounts Payable Cr. Inventory Dr. Office Supplies De Other Accounts Dr. Mar. 31 Totals Enter the transactions in a cash receipts journal. CASH RECEIPTS JOURNAL Date Account Credited Cash Dr. Sales Discount Dr. Accounts Receivable Cr. Sales Cr. Other Accts. Cr: Cont of Goods Sold Dr. Inventory Cr. Mar. 31 Totals Enter the transactions in a cash payments journal. CASH PAYMENTS JOURNAL Date CK.No. Payee Account Debited Cash Cr Inventory Cr. Other Accounts Dr Accounts Payable Dr Mar. 31 Totals 1 2 Returned $3,100 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. Note: Enter debits before credits. Date General Journal Debit Credit Mar. 17