Mar. 1 Accepted a 4-month, 6% note from a customer in settlement of $12,400 account. Wrote off as uncollectible specific accounts totaling $680. 8 Purchased $17,200 of inventory on account, terms 2/10, n/30 11 Sold $25,000 of inventory that cost $17,500, terms 1/15, n/45 12 Paid $13,750 for employee salaries. 15 Customers returned $8,000 of inventory sold on March 11th that cost $5,200. 17 Collected the balance due from the March 11th sale. 18 Paid the balance due on the March 8th purchase. 24 Received $370 on an account previously written off. 27 Purchased advertising supplies for $1,300 on account. 31 Paid freight on inventory sold, $3,218 (a) Journalize the March transactions using the accounts listed in part b. Round all amounts to the nearest dollar. (b) Post to the T accounts. Beginning balances are already shown. 1. Interest accrual for the note. 2, Bad debts are expected to be 20% of the year end accounts receivable. . A count of advertising supplies at month end, reveals that $560 remains unused. 4. The income tax rate is 30% based on $9,645 taxable income. (d) Post adjusting entries to the T accounts. e) Prepare a trial balance. (f) Prepare the financial statements for the quarter ending March 31. (9) Ratio analysis (h) Submit the business memo interpreting the ratio analysis results in D2L under Assignments