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 1/10. n/30) March 1 Purchased $37,000 of merchandise from Van Industries, terss 1/15, n/30. March 3 (a) Purchased $1,110 of office supplies on credit from Gabel Conpany, terms n/30. March 3 (b) Sold merchandise on credit to Linda Witt, Invoice Number 855, for $7,400(cost is $3,700). March 6 Borrowed $72,000 cash from Federal Bank by signing a long-tern note payable. March 9 Purchased $18,500 of office equipment on credit from Spel1 Supply, terms n/30. March 10 Sold merchandise on credit to Jovita Albany, Invoice Number 856 , for $3,700 (cost is $1,850). March 12 Received payment from Min Cho for the March 2 sale less the discount of \$148. March 13 (a) Sent Van Industries Check Number 416 in payment of the March 1 invoice less the discount of $37e. March 13 (b) Received payment from Linda Witt for the March 3 sale less the discount of $74. March 14 Purchased $32,006 of merchandise fron the CD Company, terms 1/16,n/30. March 15 (a) Issued Check Number 417 for $16,800; payee is Payroll, in paynent of sales salaries expense for the March 15 (b) Cash sales for the first half of the month are $59,200 (cost is $47,360). These cash sales are Narch 16 Purchased $1,630 of store supplies on credit fron Gabel Company, terms n/3. March 17 Returned $3,206 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces March 19 Returned $555 of office equipment purchased on March 9 to Spell Supply. Church reduces accounts March 20 payable by that amount, March 23 Issued Check Number 418 to CD Company in paynent of the March 14 purchase less the March 17 return March 27 and the $288 discount, March 28 Sold merchandise on credit to Linda Witt, Invoice Number 858 , for $4,440(cos is $1,776). March 31 (a) Issued Check Number 419 for $16,880; payee is Payroll, in paynent of sales salaries expense for the Last half of the month. March 31 (b) Cash sales for the last half of the month are $65,120 (cost is $39,672). These cash sales are recorded in the cash receipts journal on Mareh 31 . March 31 (c) verify that anounts inpacting custoner and creditor accounts were posted and that any amounts that should have been posted as individual anounts 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 $64,000 ), z. Church, Capital (March 1 Complete this question by entering your answers in the tabs below. Post information from the joumals in Part 2 to the general ledger. Post information from the journals in Part 2 to the accounts receivable ledger. March 1 Purchased \$37, 000 of merchandise froo Van Industries, teras 1/15,1/30. March 2 Sold nerchandise on credit to Min. Cho, Involce Nusber 854 , for 514,320 (cost is $7,400). March 3 (a) Purchased $1,110 of office supplies on credit from Gabel conpany, teras n/3e. March 3 (b) Sold merchandise on credit to Linda-Witty Thyice Nueber 855, for 57,400 (cost is $3,760). Narch 6 Gorrowed 572,000 cash from federel Bank ty signing a long-tera note payable. Macch 9 Purchased s18,500 of office equipnent on credit tron 5 pell 5upply, teras n/30. March 10 Sold merchandise on credit to Jovita Albany. Involee Nunber 856, for 53, 700 (cost is 51,850). March 12 Received paynent from Min Cho for the March 2 sate less the discount of s148. March. 13 (a) Sent Van Industries check Nunber 416 in paynent of the Morch 1 invoice less the discount of $378. March 13. (b) Recelved payeent from Linda Witt for the March 3 sate less the discount of $74. March 14 Purchased $32,000 - of nerchandise from the CD Conpany, terns 1/18,n/30. March 15 (a) Issued check Nusber 417 for 516,800 ; payee is Payroll, in paybent of sales salaries expense for the March 15 (b) Cash sates for the first half of the nonth are $59,200 (cost is 547,360), These cash sates are March is. recorded in the cash receipts journat on March 15. Warch 16 Purchased $1,630 of store supplies on credit fron Gabel Conpany, teras n/30. March 17. Returned $3,200 of unsatisfactory merchandise purchased on Hareh 14 to CD Cospany. Church reduces. March 10 - accounts payabte by that anount. Returned $555 of office equiphent purchased on March 9 to Spett 5 upply. Church reduces accounts payable by that aspunt, March 28 Rlecelved payeent from Jovita Albany for the sale of Mareh 10 less the discount of 537. Harch 23 Issued Check Nuber 418 to Co Conpany in payeent of the March 14 purchase less the Mareh 17 retuen March 27 Sotd nerchandise on credit to Ljovita Albany, Invoice Nubber 857, for 511,100 (cost is 54,440). March 28 Sold nerchandise on credit to Linda Witt, Invoice Nubber 850, for 54,440 , (cost is 51 , 776). March 31 (a) Issued Check Nuaber 419 , for 516,800 ; payee is. Payrolt, in paynent of sales sataries expense for-the Moreh 3 ith last holf of the nonth. March 31 (b) Cash sates for the last half of the nooth are 565,120 (cost is $39,072 ). These cash sates are Marchat recorded in the cash receipts fournal on March 31 . March 31 (c) Verity that anounts inpacting custoner and creditor acceunts vere posted and that any anounts that should have been posted as individual anounts to the general ledger accounts were posted. Foot and crosstoot the journals and eake the nonth-end postings. Assume the following ledget account amounts lmwentory (March 1 beginning balance is $64,000 ). Z. Church. Capital (Mairch 1 beginning bolance is 564,000 ) and Church Company uses the perpetual inventory system. Post information from the journats in Part 2 to the general ledger. Post information from the journals in Part 2 to the accounts receivable ledgex Post information from the journals in Part 2 to the accounts payable subsidiary ledgers