M Question 2 - Problem 7-1 Algonit X + Problem 7-1 Algorithmic 76*F Cloudy ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fwestgatech.blackboard.com%252Fwebapps%252Fportal%252Fframeset.jsp%253F 2 Part 2 of 2 50 points Skipped eBook Print References Mc Graw Hill Required information. Problem 7-1A (Algo) Special journals, subsidiary ledgers, trial balance LO P1, P2, P3, P4 [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 credit sales are 2/10, n/30). March 1 March 2 March 3 (a) March 3 (b) March 6 March 9 March 10 March 12 March 13 (a) March 13 (b) March 14 March 15 (a) March 15 (b) March 16 March 17 March 19 March 201 March 23 Saved March 27 March 281 Purchased $39,000 of merchandise from Van Industries, terms 2/15, n/30. Sold merchandise on credit to Min Cho, Invoice Number 854, for $15,600 (cost is $7,800). Purchased $1,170 of office supplies on credit from Gabel Company, terms n/30. Sold merchandise on credit to Linda Witt, Invoice Number 855, for $7,800 (cost is $3,900). Received payment from Jovita Albany for the sale of March 10 less the discount of $78. Issued Check Number 418 to CD Company in payment of the March 14 purchase less the March 17 return and the $486 discount. Sold merchandise on credit to Jovita Albany, Invoice Number 857, for $11,700 (cost is $4,680). Sold merchandise on credit to Linda Witt, Invoice Number 858, for $4,680 (cost is $1,872). March 31 (a) Issued Check Number 419 for $13,200; payee is Payroll, in payment of sales salaries expense for the last half of the month Borrowed $72,000 cash from Fede Bank by signing a long-term note payable. Purchased $19,500 of office equipment on credit from Spell Supply, terms n/30. Sold merchandise on credit to Jovita Albany, Invoice Number 856, for $3,900 (cost is $1,950). Received payment from Min Cho for the March 2 sale less the discount of $312. Sent Van Industries Check Number 416 in payment of the March 1 invoice less the discount of $780. Received payment from Linda Witt for the March 3 sale less the discount of $156. Purchased $27,000 of merchandise from the CD Company, terms 2/10, n/30. Issued Check Number 417 for $13,200; payee is Payroll, in payment of sales salaries expense for the first half of the month. Cash sales for the first half of the month are $62,400 (cost is $49,920). These cash sales are recorded in the cash receipts journal on March 15. Purchased $1,690 of store supplies on credit from Gabel Company, terms n/30. Returned $2,700 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. Returned $585 of office equipment purchased on March 9 to Spell Supply Church reduces accounts payable by that amount. Q Search

Aequired inferrestion Problem 7-1A (Algo) Special journels, subsidiary ledgers, trial balance LO P1, P2, P3, P4 Church Company completes these transoctions and events curing March of the curtent year ferms for all its credit sales are 2/10,n/30 ) Warch 1 Purchased 339,000 of merchandise feom Van tindustries, terns 2/15, A/30 Warch 2 Sald merchandise on credit to Hin Cho, Invoice Nueber 854, for: 115,600 (cost is $7, sog). March 3 (a) Purchased $1,170 of office supplies on credit from Gabel. Coepuny, terms ril10. Harch 3 (b) Sold merchandise on credit to Linda MIte, Invorice Number 555 , for 57,600 (cost is 53,590 ). March of Barcoued $72,600 cash free. Federal Bank by signing a lene-term note payahle. March 9 Purchased $19,500 of office equipent on credit frem spell Supply, terns n/30. Narsh. 12 Received payment froe Rin Cho, for the March 2 nale less the discount of $312 March 13. (a) Sent Van Industries Check humber 416 in parment of the March 1 involce less the discount of. s7de. Harch is (a) Issued Check humber-417 for $13,200; payee is Payrol1, In payent of sales salaries expense for the firet hati of the roeth. the cash recelpts journal on March 15. March 16 Furchased $1,690 of store supplies on credlt froe Gabel Coepgry, teres n/30. payable by that anownt: hall of the posth. the cath receipt. jeurnal on. Haris 31. inurnals and eske the eonth-end postings