Zhang Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30).

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.

Mar. 1 Purchased $46,500 of merchandise from Hall Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Allen Co., Invoice No. 854, for $51,600 (cost is $31,000). Mar. 3 Purchased $1,300 of office supplies on credit from Wright Company, invoice dated March 3, terms n/10 EOM. Mar. 3 Sold merchandise on credit to Rick Mitchell, Invoice No. 855, for $15,000 (cost is $9,000). Mar. 6 Borrowed $86,000 cash from Federal Bank by signing a long-term note payable. Mar. 9 Purchased $22,250 of office equipment on credit from Knight Supply, invoice dated March 9, terms n/10 EOM. Mar. 10 Sold merchandise on credit to Carolyn Clinton, Invoice No. 856, for $12,000 (cost is $7, 200). Mar. 12 Received payment from Allen Co. for the March 2 sale less the discount. Mar. 13 Sent Hall Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Rick Mitchell for the March 3 sale less the discount. Mar. 14 Purchased $56,000 of merchandise from the King Co., invoice dated March 13, terms 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, $24, 100. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $47,000 (cost is $28, 200). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $1,800 of store supplies on credit from Wright Company, invoice dated March 16, terms n/10 EOM. Mar. 17 Received a $6,000 credit memorandum from King Co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,340 credit memorandum from Knight Supply for office equipment received on March 9 and returned for credit. Mar. 20 Received payment from Carolyn Clinton for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to King Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Carolyn Clinton, Invoice No. 857, for $26,000 (cost is $15, 600). Mar. 28 Sold merchandise on credit to Rick Mitchell, Invoice No. 858, for $9,000 (cost is $5,400). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $24, 100. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $42,300 (cost is $25,400). Mar. 1 Purchased $46,500 of merchandise from Hall Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Allen Co., Invoice No. 854, for $51,600 (cost is $31,000). Mar. 3 Purchased $1,300 of office supplies on credit from Wright Company, invoice dated March 3, terms n/10 EOM. Mar. 3 Sold merchandise on credit to Rick Mitchell, Invoice No. 855, for $15,000 (cost is $9,000). Mar. 6 Borrowed $86,000 cash from Federal Bank by signing a long-term note payable. Mar. 9 Purchased $22,250 of office equipment on credit from Knight Supply, invoice dated March 9, terms n/10 EOM. Mar. 10 Sold merchandise on credit to Carolyn Clinton, Invoice No. 856, for $12,000 (cost is $7, 200). Mar. 12 Received payment from Allen Co. for the March 2 sale less the discount. Mar. 13 Sent Hall Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Rick Mitchell for the March 3 sale less the discount. Mar. 14 Purchased $56,000 of merchandise from the King Co., invoice dated March 13, terms 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, $24, 100. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $47,000 (cost is $28, 200). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $1,800 of store supplies on credit from Wright Company, invoice dated March 16, terms n/10 EOM. Mar. 17 Received a $6,000 credit memorandum from King Co. for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $3,340 credit memorandum from Knight Supply for office equipment received on March 9 and returned for credit. Mar. 20 Received payment from Carolyn Clinton for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to King Co. in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Carolyn Clinton, Invoice No. 857, for $26,000 (cost is $15, 600). Mar. 28 Sold merchandise on credit to Rick Mitchell, Invoice No. 858, for $9,000 (cost is $5,400). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $24, 100. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $42,300 (cost is $25,400)