Saved Help S Required informetion The following information applies to the quest

Question

Saved Help S Required informetion 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 ts redit sales are 2/10, n/30) of merchandise from Van Industries, invoice dated March 1, cerms 2/15, n/30. merchandise on credit to Min Cho, Invoice No. 854, for 16, 800 (cost is $8,400). 3 (a) Purchased $1,230 of office supplies on credit from Gabel Company, invoice dated March 3 n/10 EOM. Borrowed $82,000 cash from Federal Bank by signing a long-term note payable. n/10 EOM. Received payment from Min Cho for the March 2 sale less the discount. , terms 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $10, 200 (cost is $5, 800) 6 9 Prchaed $21,850 of office equipment on eredit from Spell Supply, invoice dated March 9, terma 10 Sold merchandise on credit to Jovita bany, Invoice blo. 856, for $5,600 (cost i $2,900). 12 13 (a) Sent Van Industries Check No.16 in payment of the March 1 invoice less the discount. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount 14 15 (a) Issued Check No. 417, payable to Payroll, in payment of sales salazies expense for the tizst 15 (b) Cash ales for the first half of the month are S34, 600 (coat i S20, 220), (can aies are 16 Purchased $1,770 0of store supplies on credit from Gabel Company, invoice daced March 16, terma 17 Purchased $32,625 of merchandise trom the CD Company, invoice dated Mazch 13, terms 2/10, n/30. half of the month, 18, 300. Cashed the check and paid the employees. recorded daily, but are recorded only twice heze to reduce zepetitive entries. n/10 EOM merchandise purchased on Harch 14. Received $2,425 credit memozandum fro CD Company for the return of uneaciafactory Prev

Explanation / Answer

Required journals are as prepared below:

Sales Journal Date Account Debited Invoice Number Account Receivable Dr   Sales Cr Cost of goods Sold Dr Inventory Cr Mar-02 Min Cho 854 16,800 8,400 Mar-03 Linda Witt 855 10,200 5,800 Mar-10 Jovita albany 856 5,600 2,900 Mar-27 Jovita albany 857 14,910 7,220 Mar-28 Linda Witt 858 4,315 3,260 Totals 51,825 27,580

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.