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 Purchased $43,600 of merchandise from Van Industries, terms 2/15, n/38. March 2 Sold merchandise on credit to Min Cho, Invoice Number 854, for $16,800 (cost is $8,400). March 3 Purchased $1,230 of office supplies on credit from Gabel Company, terms n/30. March 3 Sold merchandise on credit to Linda Witt, Invoice Number 855, for $10,200 (cost is $5,800). March 6 Borrowed $82,000 cash from Federal Bank by signing a long-term note payable. March 9 Purchased $21,850 of office equipment on credit from Spell Supply, terms n/30. March 10 Sold merchandise on credit to Jovita Albany, Invoice Number 856, for $5,600 (cost is $2,900). March 12 Received payment from Min Cho for the March 2 sale less the discount of $336. March 13 Sent Van Industries Check Number 416 in payment of the March 1 invoice less the discount of $872. March 13 Received payment from Linda Witt for the March 3 sale less the discount of $284. March 14 Purchased $32,625 of merchandise from the CD Company, terms 2/10, n/30. March 15 Issued Check Number 417 for $18,380, payee is Payroll, in payment of sales salaries expense for the first half of the month. March 15 Cash sales for the first half of the month are $34,680 (cost is $20,210). These cash sales are recorded in the cash receipts journal on March 15. March 16 Purchased $1,770 of store supplies on credit from Gabel Company, terms n/30. March 17 Returned $2,425 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by amount. March 19 Returned $630 of office equipment purchased on March 9 to Spell Supply. Church reduces accounts payable by that amount March 20 Received payment from Jovita Albany for the sale of March 10 less the discount of $112. March 23 Issued Check Number 418 to CD Company in payment of the March 14 purchase less the March 17 return and the discount of $684. March 27 Sold merchandise on credit to Jovita Albany, Invoice Number 857, for $14,910 (cost is $7,228). March 28 Sold merchandise on credit to Linda Witt, Invoice Number 858, for $4,315 (cost is $3,280). March 31 Issued Check Number 419 for $18,380, payee is Payroll, in payment of sales salaries expense for the last half of the month. March 31 Cash sales for the last half of the month are $30,180 (cost is $16,820). These cash sales are recorded in the cash receipts journal on March 31.