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 Purchased $39,000 of merchandise from Van Industries, terms 2/15, 1/30. March 2 Sold merchandise on credit to Min Cho, Invoice Number 854, for $15,600 (Cost is $7,800). March 3 (a) Purchased $1,170 of office supplies on credit from Gabel Company, terns n/30. March 3 (b) Sold merchandise on credit to Linda witt, Invoice Number 855, for $7,800 (cost is $3,900). March 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. March 9 Purchased $19,500 of office equipment on credit fron Spell Supply, torns n/30. March 10 Sold merchandise on credit to Jovita Albany, Invoice Number 856, for $3,900 (cost is $1,950). March 12 Received payment from Min Cho for the March 2 sale less the discount of $312. March 13 (a) Sent Van Industries Check Number 416 in payment of the March 1 invoice less the discount of $780. March 13 (b) Received payment from Linda Witt for the March 3 sale less the discount of $156. March 14 Purchased $34,000 of merchandipe from the CD Company, terns 2/10, 1/30. March 15 (a) Issued Check Number 417 for $2,000; payee is Payroll, in payment of sales salaries expense for the first half of the month. March 15 (b) Cash sales for the first half of the month are $62,400 (cost is $49,920). These cash sales are recorded in the cash receipts journal on March 15. March 16 Purchased $1,690 of store supplies on credit from Gabel Company, terms n/30. March 17 Returned $3,400 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. March 19 Returned $585 of office equipment purchased on March 9 to Spell Supply Church reduces accounts payable by that amount. March 20 Received payment from Jovita Albany for the sale of March 10 less the discount of $78. March 23 Issued Check Number 418 to CD Company in payment of the March 14 purchase less the March 17 return and the $612 discount. March 27 Sold merchandise on credit to Jovita Albany, Invoice Number 857, for $11,700 (cost is $4,680). March 28 Sold merchandise on credit to Linda Witt, Invoice Number 858, for $4,680 (cost is $1,872). March 31 (a) Issued Check Number 419 for $17,000; payee is Payroll, in payment of sales salaries expense for the last half of the month. March 31 (b) Cash sales for the last half of the month are $68,640 (cost is $41,184). These cash sales are recorded in the cash receipts journal on March 31. March 31 (c) 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 $61,000). Z. Church, Capital (March 1 beginning balance is $61,000) and Church Company uses the perpetual inventory system GENERAL LEDGER Cash Debit Credit Dato March 31 (c) Cash Payments Journal March 31 (c) Cash Receipts Journal Accounts Receivable Dubit Date Credit Bal 102,208 Balance (102.208) 127,586 229,794 Inventory Debit Credit Office Supplies Debit Date Credit B Date March 01 March 31 (c) Purchases Journal March 31 (c) Sales Journal March 31 (c) Cash Receipts Journal Balance 65.000 134000 73,000 Date Store Supplies Debit Credit Balance Date Office Equipment Debit Credit Bal Date Accounts Payable Debit Credit Balance Long-Term Notes Payable De Date Credit Dal Z. Church, Capital Debit Sales Date Credit Balance Date Debit March 01 Credit BM Sales Discounts Debit Date Credit Cost of Goods Sold Debi Balance Data Credia Bal Sales Salaries Expense Debit Date Credit Balance ACCOUNTS RECEIVABLE LEDGER Jovita Albany Debit Date Credit Balance Date Min Cho Debit Credit Blad Linda Witt Debit Date Credit Balance ACCOUNTS PAYABLE LEDGER CD Company Debit Date Credit Balance Gabel Company Debes Date Credit Balance Spell Supply Debit Date Van Industries Debit Credit Balance Date Credit Bance CHURCH COMPANY Trial Balance March 31 Debit Credit Totals $ 0 $ 0 CHURCH COMPANY Schedule of Accounts Receivable March 31 Jovita Albany Linda Witt Min Cho Total accounts receivable $ 0 CHURCH COMPANY Schedule of Accounts Payable March 31 Gabel Company Spell Supply Van Industries CD Company Total accounts payable $ 0