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Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30).
Mar. 1 Purchased $43,600 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30.
2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $ 16,800 (cost is $ 8,400).
3 Purchased $ 1,230 of office supplies on credit from Gabel Company, invoice dated March 3, terms n/10 EOM.
3 Sold merchandise on credit to Linda Witt, Invoice No. 855, for $ 10,200 (cost is $ 5,800).
6 Borrowed $ 82,000 cash from Federal Bank by signing a long-term note payable.
9 Purchased $ 21,850 of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOM.
10 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $ 5,600 (cost is $ 2,900).
12 Received payment from Min Cho for the March 2 sale less the discount.
13 Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount.
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