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Church Company completes these transactions and events during March of the current year terms for all its credit sales are n
March Purchased $ of merchandise from Van Industries, terms n
March Sold merchandise on credit to Min Cho, Invoice Number for $cost is $
March a Purchased $ of office supplies on credit from Gabel Company, terms n
March b Sold merchandise on credit to Linda Witt, Invoice Number for $cost is $
March Borrowed $ cash from Federal Bank by signing a longterm note payable.
March Purchased $ of office equipment on credit from Spell Supply, terms n
March Sold merchandise on credit to Jovita Albany, Invoice Number for $cost is $
March Received payment from Min Cho for the March sale less the discount of $
March a Sent Van Industries Check Number in payment of the March invoice less the discount of $
March b Received payment from Linda Witt for the March sale less the discount of $
March Purchased $ of merchandise from the CD Company, terms n
March a Issued Check Number for $; payee is Payroll, in payment of sales salaries expense for the first half of the month.
March b Cash sales for the first half of the month are $cost is $ These cash sales are recorded in the cash receipts journal on March
March Purchased $ of store supplies on credit from Gabel Company, terms n
March Returned $ of unsatisfactory merchandise purchased on March to CD Company. Church reduces accounts payable by that amount.
March Returned $ of office equipment purchased on March to Spell Supply. Church reduces accounts payable by that amount.
March Received payment from Jovita Albany for the sale of March less the discount of $
March Issued Check Number to CD Company in payment of the March purchase less the March return and the $ discount.
March Sold merchandise on credit to Jovita Albany, Invoice Number for $cost is $
March Sold merchandise on credit to Linda Witt, Invoice Number for $cost is $
March a Issued Check Number for $; payee is Payroll, in payment of sales salaries expense for the last half of the month.
March b Cash sales for the last half of the month are $cost is $ These cash sales are recorded in the cash receipts journal on March
March c Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the monthend postings.
Assume the following ledger account amounts: Inventory March beginning balance is $ Z Church, Capital March beginning balance is $ and Church Company uses the perpetual inventory system.Homework i
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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
March Purchased $ of merchandise from Van Industries, terms
March Sold merchandise on credit to Min Cho, Invoice Number for $cost is $
March a Purchased $ of office supplies on credit from Gabel Company, terms
March b Sold merchandise on credit to Linda Witt, Invoice Number for $cost is $
March Borrowed $ cash from Federal Bank by signing a longterm note payable.
March Purchased $ of office equipment on credit from Spell supply, terms
March Sold merchandise on credit to Jovita Albany, Invoice Number for $cost is $
March Received payment from Min Cho for the March sale less the discount of $
March a Sent Van Industries Check Number in payment of the March invoice less the discount of $
March b Received payment from Linda Witt for the March sale less the discount of $
March Purchased $ of merchandise from the CD Company, terms
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