ch Church 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 $34,000 of merchandise from Van Industries, terms 2/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $13,600 (cost is $6,800). 3 (a) Purchased $1,020 of office supplies on credit from Gabel Company, terms n/30. 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $6,800 (cost is $3,400). 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. 9 Purchased $17,000 of office equipment on credit from Spell Supply, terms n/30. 10 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,400 (cost is $1,700). 12 Received payment from Min Cho for the March 2 sale less the discount of $272. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount of $680. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount of $136. 14 Purchased $26,000 of merchandise from the CD Company, terms 2/10, n/30. 15 (a) Issued Check No. 417 for $17,000, payee is Payroll, in payment of sales salaries expense for the first half of the month. 15 (6) Cash sales for the first half of the month are $54,400 (cost is $43,520). These cash sales are recorded in the cash receipts journal on March 15. 16 Purchased $1,540 of store supplies on credit from Gabel Company, terms m/38. 17 Returned $2,600 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. 19 Returned $510 of office equipment purchased on March 9 to Spell Supply Church reduces accounts payable by that amount 26 Received payment from Jovita Albany for the sale of March 10 less the discount of $68. T.... LLLLLLL