Build a general journal 

1.On March 2 a cheque was issued to pay Amber Energy for electricity usage.

A) The total was: $820

2.On March 3 we issued a credit memorandum to the Calgary Dealer for parts we sold them ion February 28, which they returned for credit. The merchandise was returned to inventory.

A) First, record the return. The memo shows the amount was: $5,780
B) Second, record the adjustment to merchandise. The parts had a wholesale cost of: $3,500

3.On March 4 we sold merchandise to Toronto Dealer, invoice #2155. Terms 2/10 n90

A) The total retail price for the merchandise was: $44,000
B) The wholesale cost of the merchandise was: $32,000

4.On March 5 we issued cheque #1780 to Chinook Mall Management in payment of rent.

A) Total amount of the cheque is: $7,200

5.On March 6 we received partial payment from the Toronto Dealer for the merchandise purchased on March 4.

A) The partial payment was for $30,000.

6.Texla purchased merchandise inventory on credit from Rivion Co. with invoice dated March 7, terms 2/10 EOM.

A) The amount was $30,500.

7.On March 7 we received the remaining portion owing from the Toronto Dealer for the merchandise purchased on March 4.

A) Record the cash received
B) Issue a discount if applicable
C) Adjust the amount owing

8.On March 9 Texla prepaid for advertising on a nearby billboard.

A) A cheque was written for $9,000.

9.On March 12 Von Franz made an investment in the company of:

A) Store equipment worth $17,000
B) Cash of $20,000

10.On March 12 Texla purchased store equipment from the Terafactory on credit. Terms 2/10 n90

A) The amount was $22,000

11.On March 14 we paid for the merchandise purchased from Rivion Co. on March 7.

A) Reduce the balance owing to Rivion
B) Record the discount if applicable
C) Record the cash payment

12.On March 20 Texla wrote a cheque to Solartown to repay the remaining accounts payable balance.

13.On March 27 Von Franz withdrew cash from the company.

A) The amount was $18,000

14.On March 28 Texla returned store equipment to Terafactory because it was damaged upon arrival.

A) The total was $12,000

15.On March 28 Texla paid their employees.

A) Sales staff had earned commissions totaling $24,200
B) Office staff salaries totaled $15,300