Required information

$[$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 $\frac{3}{10},\frac{n}{30}).$

March $1$ Purchased $$36,000$ of merchandise from Van Industries, terms $\frac{3}{15},\frac{n}{30}.$

March $3($a$)$ Purchased $$1,080$ of office supplies on credit from Gabel Company, terms $\frac{n}{30}.$

March $3($b$)$ Sold merchandise on credit to Linda Witt, Invoice Number $855,$ for $$7,200($cost is $$3,600).$

March $6$

March $9$

March $10$

March $12$

March $13($a$)$

Borrowed $$72,000$ cash from Federal Bank by sidit from Spell Supply, terms $\frac{n}{30}.$

Purchased $$18,000$ of office equipment on crany, Invoice Number $856,$ for $$3,600($cost is $$1,800).$

Sold merchandise on credit to Jovita A March $2$ sale less the discount of $$432.$

Received payment from Min Cho for the Mayment of the March $1$ invoice less the discount of

Sent Van Industries Check Number $416$

$$1,080.$

March $13($b$)$ Received payment from Linda Witt for the from the CD Company, terms $3/10,$ n$/30.$

March $14$

Purchased $$28,000$ of merchandise from payee is Payroll, in payment of sales salaries expense for

March $15($a$)$

Issued Check Number $417$ for $$14,700$;

the first half of the month.

March $15($b$)$ Cash sales for the first half of the montharch $15.$

recorded in the cash Purchased $$1,600$ of store supplies on credit from Gabel Company, terms $\frac{n}{30}.$

March $17$

March $19$

March $20$

March $23$

March $27$

March $28$

Returned $$2,800$ of unsatisfactory merchand

reduces accounts payable by that amourchased on March $9$ to Spell Supply. Church reduces accounts

Returned $$540$ of office equipment purchas

payable by that amount.

Received payment from Jovita Albany for the sale of the. March $14$ purchase less the March $17$

Issued Check Number $418$ to CD Company in p$.$ Invoice Number $857,$ for $$10,800($cost is $$4,320).$

return and the $$756$ discount.

Sold merchandise on credit to Jovita Albany, invoice Number $858,$ for $$4,320($cost is $$1,728).$

Sold merchandise on credit to Linda Witt, In Payroll, in payment of sales salaries expense for

March $31($a$)$

the last half of the month.

March $31($b$)$ Cash sales for the last half of the month are $$63,360($cost is $$38,016).$ These cash sales are

March $31($c$)$ Vecorded in the cash receipts journal on March $31.$

Foot and crossfoot the journals and make the month$-$end postings ledger accounts were posted.

Assume the following ledger account amounts: Inventory $($March $1$ beginning balance

$($March $1$ beginning balance is $$62,000)$ and Church Company uses the perpetual inventory system.Post Information from the joumals in Part $2$ to the general ledger.

$*$also the

Accounts Receivable Ledger

Accounts Payable Ledger

Trial Balance

Schedule of Accounts Receivable

Schedule of Accounts Payable$***$