You have been hired as an accountant for the Manhattan Trading Corporation and you need to record the following transactions in the General Journal & General Ledger for March 2022. The company owns and operates a retail electronics & appliance store. The company started on March 1, 2022. 1 Issued 300,000 shares of common stock in exchange for $700,000 cash. 2 Purchased furniture and fixtures at a cost of $30,000. $5,000 was paid in cash and a 60-day note payable was signed for the balance owed. 3 Purchased inventory on account at a cost of $300,000. The company uses the perpetual inventory system. 4 Credit sales for the month totaled $350,000. The cost of goods sold was $135,000. 5 Paid $4,000 in rent on the store building for the month of March. 6 Paid $12,000 to an insurance company for fire and liability insurance for a one-year period beginning March 5. 6 Declared a $10,000 cash dividend. 7 Paid $100,000 on account for the merchandise purchased in March 3. 8 Collected $110,000 from customers on account. 9 The company needs to buy a new delivery van and has the following alternatives: Toyota: Down Payment $ 5,000 and 60 monthly payments of $ 700 each Ford: $ 0 down payment and 70 monthly payments of $ 850 each. If the current interest rate is 12% compounded monthly, the company indeed purchased the best option. 12 The following plans are offered on the purchase of the 10 Desktop Computers: Plan A from Dell Inc.: 13,000 cash Plan B from HP: 24 monthly payments of $ 600 Plan C from Lenovo: $ 1,000 down and 20 monthly payments of $ 650. The interest rate is 12% compounded monthly. March

The company purchased the best plan of all. 15 The company factors $200,000 of receivables with Chase on a with recourse basis, Chase charges 3% finance fee of receivables and retains 9% of receivable for adjustments. The company calculates that this recourse liability (bad debts) has a fair value of $18,000. 17 The company shipped goods costing $10,000 to Brooklyn Electronics on consignment. The sales agreement states that Brooklyn Electronics has 10 days to either sell the goods and pay our company $14,000 for them or to return the goods to our company. 20 Paid shareholders the cash dividend of $10,000 declared on March 6. 22 The company collected $20,000 cash in advance from Queens Electronics for Merchandise to be delivered next week; the cost of the merchandise is $ 12,000. 28 Brooklyn Electronics did not return the merchandise on consignment. 29 Shipped and delivered the Merchandise to Queens Electronics. 31 Recorded depreciation expense of $2,000 for the month on the furniture, equipment & van. 31 Recorded the amount of prepaid insurance that expired for the month. Required: Trial Balance Income Statement for March 2022 Balance Sheet for March 2022

Statement of cash flow for march 2022