The log o o muestions cold blow Church Company complete these transactions and events dumg March of the current years for all its cre a re 20 SO M Purchased $40,000 of merchandise from Vanities, las 2/5.30 2 Sold merchandise on credo Min Chemice No. 854. for $15.000 .000 3 Purchased $1200 of office s on credit from Gobal Company, Dorm 3 Sold merchand on credit in Linde Wer e No 55. for $8.000 14.000 6 Borrowed $72.000 cash from Federal Bank by wring a longtem not payable 9 Purchased $20,000 of w omentance from Spell Supply ISO 10 Sold merchandise on Credit to low Albany voice No 856 for $4000 12000 Aceved payment from Min Cho for the March 2 less the discount of $320. 13 Sent Van Industrie Check No.416 in payment of the Marchirivice the discount of $300 13 Received payment from Linde Wit for the Marche oss the count of $160. 14 Purchased $10,000 of merchandise from the CD Company 2/10 30 15 sed Check No 417 for $14.700 payee is Payroll in payment of sales sales pense for the first half of the month 15 Cash sales for the first half of the month are 554,000 cost is $512001. These cas es are recorded in the cash receipt jumal on March 15 16 Purchased $4720 of store supplies on credit from Gabel Company, V30 17 P red $3,000 of satisfactory merchandise purchased on March 1400 CD Company. Churche s accounts payable by the amount 19 Returned $600 of office equipment purchased on March 9 Spell Supply Church reduces accounts payable by that amount 20 Hecoved payment from Jovi Abery for the sale of March 10 best count of 580 23 issued Chuck No: 418 to CD Company in payment of the Merch purchases the March 17m end the 3540 count 27 Sold merchandise on credit to Jovit Albany, invoice No. 57 for $2,000 $4,800 20 Sold merchandise on credit to Linde Witt, Invoice No. 858 for $4,800 costs $1920) 31 Issued Chuck No. 419 for $14.700 payee is Payrolin payment of sales sales expers for the last half of the month 311 Cash sales for the lost half of the month $70,400 tis $42.240 These chans are recorded in the cash receipts journal on March 311) Varily that amounts impacting customer and creditor accounts were posted and that any amounts that shoud ve been posted as individual ledger accounts were posted Foot and crosstoot the journals and make the month and postings. ou to the Assume the following ledger account amounts Inventory (March 1 beg balis So 0001 Z. Church Capital (March 1 beg balis 561000) and Church Company uses the perpetual inventory system References Section Break Problem . Special oumas subsidiary ledgers, tral balance to PLP2, P3, P4 16 Award fins Problem 7-1A Special journals, subsidiary ledgers, trial balance LO P1, P2, P3, P4 The Glowing information applies to the questions played below! Church Company complete these transactions and events cuing March of the current year s for all its credit sies ar 20 30 Mot1 Purchased $40 000 of merchandise from Van Industries, em 2/15, 30. 2 Sold merchands on credit to Minho, voice No. 854, for $10.000 si 50.000) 3 Purchased $200 of office supplies on credit from Gabel Company. ISO Sold merchandise on cruto Linde Wit, Invoice No. 55, for 1000 is $4.000 6 Borrowed $72.000 cash from Federal Bank by signing a long- te payable 9 Purchased $20.000 of office equipment and from Spel Supply Dorms 30. 10 Sold merchandise on credit to Jovica Albarry, Invoice No. 856 for $4000 costs $2.000 12 Received payment from Min Cho for the March 2 se less the discourse of $320. 13) Sent Van Industries Check No. 495 in payment of the March 1 inwoice less the discount of 5800 3 ) Received payment from Linda W orth March 3 14 Purchased 530,000 of merchandise from the CD Company, Dorms 270, 30. Is Payroll In payment of sales sales expense for the first half of the month 15 hj Cash sales for the first half of the month are $64 000 cost $$1200). Therech recorded in the chr o me on March 15 16 Purchased $1.720 of store supplies on credit from Gabal Company, Dom 30. 17 Retumed $3,000 of reactory merchandise purchased on March M CD Company Church reduces accounts payable by the amount 19 Resumed 5600 of office equipment purchased on March 10 Spel Supply Church reduce tots payable by the amount 20 Received payment from Jovita Albery for the sale of March 10 th count of $80 23 issued Check No to CD Company in payment of the March 14 purchase on the March 17 rum and the $540 discount 27 Sold merchandise on credo Jovita Albany. Invoice No 857 for $0,000 costs $4.800 20 Sold merchandise on credit to Linda WtInvoice No 858 for $4.500 costs $1920 311) Issued Check No. 419 for $.700,payee is Payrollin payment of sales seves expense for the half of the month 310 Cash sales for the last half of the month are 570400 COSES $42.240. These cases are recorded in the cash receipts journal on March 31 31 ) Verity that amount impacting customer and creditor Cours were posted and that any w o uld have been plaas individ u odger accounts were posted Foot and cross or the oumas and make the month-end penting Assume the following ledger account amounts Inventory (March 1bog balls 000, 2 Church Catel (March 1 beg hal is $61,000) and Church o perpetual inventory system. s to the general h 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 cre Mar. 1 Purchased $40,000 of merchandise from Van Industries, terms 2/15, 1/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $16,000 (cost is $8,000). 3 (0) Purchased $1,200 of office supplies on credit from Gabel Company, terms 1/30. 3(b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $8,000 (cost is $4,000). 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. Problem 7-1A Special journals, subsidiary ledgers, trial balance LO P1, P2, P3, P4 The following information applies to the questions o yed below) Church Company completes these transactions and events during March of the current year term for all its credit sales are 210 Mar Purchased $40.000 of merchandise from Van Industriesters 2/15, 30. 2 Sold merchandise on credit to Min Cho, Invoice No. 354 for $16.000 cost is $8,000 3 Purchased $1200 of office supplies on credit from Gabel Company, terms 130 3 Sold merchandise on Credito Linde Wittrice No. 855 for $8.000 costs $4,000) 6 Borrowed $72,000 cash from Federal Bank by signing a long to note payable 9 Purchased $20,000 of once equipment on Credit from Spel Supply, bem 30 10 Sold merchandise on credit to Jovi Albany, Invoice No. 856 for $4.000 costs $2.000 12 Received payment from Min Cho for the March 2 Sea the discount of $320 and the discount of $800. 12 Received payment from Min Cho for the March 2 sale less the discount of $320. 13(a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount of $800 13 Received payment from Linda Wal for the March 3 sale less the discount of $160. 14 Purchased $50.000 of merchandise from the CD Company, terms 2/10, 30. 15 () issued Check No 417 for $14,700, payee is Payroll, in payment of sales salaries expense for the first half of the month 15 b) Cash sales for the first half of the month are $64.000 (cost is $51200). These cash sales are recorded in the cash receipts journal on March 15 16 Purchased $1720 of store supplies on credit from Gabel Company, terms 30. 17 Returned $3.000 of unsatisfactory merchandise purchased on March 14 to CD Company, Church reduces accounts payable by that amount 19 Returned $600 of office equipment purchased on March 9 to Spell Supply Church reduces accounts payable by that amount 20 Received payment from Jovita Abony for the sale of March 10 less the discount of 480 23 sued Check No. 418 to CD Company in payment of the March 14 purchase less the March 17 return and the $540 discount 27 Sold merchandise on Credit to Jovita Alberty Invoice No. 857 for $12,000 cost is $4,8001 za Sold merchandise on Credit to Linde Witt, Invoice No. 850, for $4,800 cost is $1.920 sued Chock No. 419 for $14.700.payse is Payroll, in payment of sales salaries expense for the best half of the month 31 Cash sales for the last half of the month are 570.400 costis 142.240). These cash sales are recorded in the cash receipts journal on March 31 Verity that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individ u ager ccounts were posted. Foot and crosstoot the journals and make the month-end postings l Assume the following ledger account amounts Inventory (March 1 beg balls St000), 2 Church, capa (March 1 beg balls $61,000 and Church perpetuo inventory tem References Section Break Pro A Special journals stary leg al balance LO 12. PPA GENERAL LEDGER Cash Debit Accounts Receivable Debit Date Credit Balance Date Credit Balance Inventory Debit Date Credit Balance Omice Supplies Debit Date Credit Balance Mar 01 Store Supplies Debit Office Equipment Debit Date Credit Balance Date Credit Balance Accounts Payable Debit Long-Term Notes Payable Debit Credit Date Credit Balance Date Balance Z. Church, Capital Sales Date Debit Credit Balance Debit Credit Balance Mar 01 Sales Discounts Debit Credit Balance Cost of Goods Sold Debit Date Credit Balance Sales Salaries Expense ACCOUNTS RECEIVABLE LEDGER Jovita Albarvy Debit Credit Credit Balance Min Cho Unda Win ACCOUNTS PAYABLE LEDGER CD Company Debit Credit Gabel Company Debit Balance Date Date Credit Spell Supply Van Industries