Ret Clark Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10,n/30). Mar. 1 Purchased $43,900 of merchandise from Sanchez Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Carter Co., Invoice No. 854, for $20,400 (cost is $12,000). Mar. 3 Purchased $1,700 of office supplies on credit from Knight Company, invoice dated March 3, terms n/10 ROM. Mar. 3 Sold merchandise on credit to Paula Parker, Invoice No. 855, for $13,000 (cost is $7,800). Mar. 6 Borrowed $88,000 cash from Countryside Bank by signing a long-tern note payable. Mar. 9 Purchased $22,150 of office equipment on credit from Clinton Supply, invoice dated March 9, terma n/10 EOM. Mar. 10 Sold merchandise on credit to Kathy Perry, Invoice No. 856, for $10,400 (cost is $6,200). Mar. 12 Received payment from Carter Co. for the March 2 sale less the discount. Mar. 13 Sent Sanchez Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Paula Parker for the March 3 sale less the discount. Mar. 14 Purchased $35,000 of merchandise from the Zhang Co., invoice dated March 13, terns 2/10, n/30. Mar. 15 Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $18,900. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $37,000 (cost is $22,200). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $2,200 of store supplies on credit from Knight Company, invoice dated March 16, terms n/10 EOM. Mar. 17 Received a $3,000 credit memorandum from Zhang co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,320 credit memorandum from Clinton Supply for office equipment received on March 9 and returned for credit. Mar. 20 Received payment from Kathy Perry for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to Zhang Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Kathy Perry, Invoice No. 857, for $23,000 (cost is $13,800). Mar. 28 Sold merchandise on credit to Paula Parker, Invoice No. 858, for $7,800 cost is $4,700). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $18,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $33,300 (cost is $20,000). Answer is not complete. Prev 1 of 1 !!! Next Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Each transaction is recorded in either a special journal, or directly in the general journal. If a transaction is to be recorded in a special journal, select "Entered in special journal" in the first account field. Otherwise, prepare the general journal entry. No Date Account Title Debit Credit 1 Mar 01 43,900 Inventory Accounts payable 43,900 2 Mar 02 20,400 Accounts receivable Sales Cost of goods sold Inventory 20,400 12,000 12,000 3 Mar 03 1,700 Office supplies Accounts payable 1.700 4 Mar 03 13,000 13,000 Accounts receivable Sales Cost of goods sold Inventory 7,800 7,800 5 Mar 06 Cash Long-term notes payable 88,000 88,000 6 Mar 09 Office supplies Accounts payable 22,150 22,150 7 Mar 10 10,400 Accounts receivable Sales Cost of goods sold Inventory 6,200 6,200 6,200 8 Mar 12 x Cash Sales discounts Accounts receivable 19,992 408 20,400 9 Mar 13 43,900 Accounts payable Sales discounts 6,585 37,315 Cash 10 Mar 13 Cash X 12,740 260 Sales discounts Ante Rakhle 49 Prev 1 of 1 DRE Next Cost of goods sold Inventory 22,000 22,000 14 Mar 16 Store supplies Accounts payable X 2.200 2,200 15 Mar 17 Accounts payable Inventory O 3,000 3,000 16 Mar 19 Accounts payable Office equipment 3,320 3,320 17 Mar 20 Cash Sales discounts Accounts receivable 10,192 208 10,400 18 Mar 23 32,000 Accounts payable Inventory Cash Xxx 640 X 31,360 19 Mar 27 Accounts receivable Sales 23,000 23,000 Prev 1 of 1 RE BE Next > 20 Mar 28 7,800 Accounts receivable Sales Cost of goods sold Inventory 7,800 4.700 4,700 21 Mar 31 Sales salaries expense Cash 18,900 18,900 22 Mar 31 Cash 33,300 X X Sales 33,300 23 Mar 31 20,000 > Cost of goods sold Inventory 20,000 24 Mar 31 Entered in special Journal 25 Mar 31 Entered in special journal 26 Mar 31 Entered in special journal Rainement General Ledaer Journal entry worksheet Enter the month-end totals from the Cash Disbursements journal. Note: Enter debits before credits. Date Account Title Entered in special journal Debit Credit Mar 31 Record entry Clear entry View generaliournal Ret Clark Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10,n/30). Mar. 1 Purchased $43,900 of merchandise from Sanchez Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Carter Co., Invoice No. 854, for $20,400 (cost is $12,000). Mar. 3 Purchased $1,700 of office supplies on credit from Knight Company, invoice dated March 3, terms n/10 ROM. Mar. 3 Sold merchandise on credit to Paula Parker, Invoice No. 855, for $13,000 (cost is $7,800). Mar. 6 Borrowed $88,000 cash from Countryside Bank by signing a long-tern note payable. Mar. 9 Purchased $22,150 of office equipment on credit from Clinton Supply, invoice dated March 9, terma n/10 EOM. Mar. 10 Sold merchandise on credit to Kathy Perry, Invoice No. 856, for $10,400 (cost is $6,200). Mar. 12 Received payment from Carter Co. for the March 2 sale less the discount. Mar. 13 Sent Sanchez Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Paula Parker for the March 3 sale less the discount. Mar. 14 Purchased $35,000 of merchandise from the Zhang Co., invoice dated March 13, terns 2/10, n/30. Mar. 15 Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $18,900. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $37,000 (cost is $22,200). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $2,200 of store supplies on credit from Knight Company, invoice dated March 16, terms n/10 EOM. Mar. 17 Received a $3,000 credit memorandum from Zhang co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,320 credit memorandum from Clinton Supply for office equipment received on March 9 and returned for credit. Mar. 20 Received payment from Kathy Perry for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to Zhang Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Kathy Perry, Invoice No. 857, for $23,000 (cost is $13,800). Mar. 28 Sold merchandise on credit to Paula Parker, Invoice No. 858, for $7,800 cost is $4,700). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $18,900. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $33,300 (cost is $20,000). Answer is not complete. Prev 1 of 1 !!! Next Requirement General Journal General Ledger Trial Balance Cash Rec Journal Cash Disb Journal Purchases Journal Sales Journal Each transaction is recorded in either a special journal, or directly in the general journal. If a transaction is to be recorded in a special journal, select "Entered in special journal" in the first account field. Otherwise, prepare the general journal entry. No Date Account Title Debit Credit 1 Mar 01 43,900 Inventory Accounts payable 43,900 2 Mar 02 20,400 Accounts receivable Sales Cost of goods sold Inventory 20,400 12,000 12,000 3 Mar 03 1,700 Office supplies Accounts payable 1.700 4 Mar 03 13,000 13,000 Accounts receivable Sales Cost of goods sold Inventory 7,800 7,800 5 Mar 06 Cash Long-term notes payable 88,000 88,000 6 Mar 09 Office supplies Accounts payable 22,150 22,150 7 Mar 10 10,400 Accounts receivable Sales Cost of goods sold Inventory 6,200 6,200 6,200 8 Mar 12 x Cash Sales discounts Accounts receivable 19,992 408 20,400 9 Mar 13 43,900 Accounts payable Sales discounts 6,585 37,315 Cash 10 Mar 13 Cash X 12,740 260 Sales discounts Ante Rakhle 49 Prev 1 of 1 DRE Next Cost of goods sold Inventory 22,000 22,000 14 Mar 16 Store supplies Accounts payable X 2.200 2,200 15 Mar 17 Accounts payable Inventory O 3,000 3,000 16 Mar 19 Accounts payable Office equipment 3,320 3,320 17 Mar 20 Cash Sales discounts Accounts receivable 10,192 208 10,400 18 Mar 23 32,000 Accounts payable Inventory Cash Xxx 640 X 31,360 19 Mar 27 Accounts receivable Sales 23,000 23,000 Prev 1 of 1 RE BE Next > 20 Mar 28 7,800 Accounts receivable Sales Cost of goods sold Inventory 7,800 4.700 4,700 21 Mar 31 Sales salaries expense Cash 18,900 18,900 22 Mar 31 Cash 33,300 X X Sales 33,300 23 Mar 31 20,000 > Cost of goods sold Inventory 20,000 24 Mar 31 Entered in special Journal 25 Mar 31 Entered in special journal 26 Mar 31 Entered in special journal Rainement General Ledaer Journal entry worksheet Enter the month-end totals from the Cash Disbursements journal. Note: Enter debits before credits. Date Account Title Entered in special journal Debit Credit Mar 31 Record entry Clear entry View generaliournal