Prepare the items in the journal. NOTE: To register merchandise, use the analytical system. 1 Comercial Santa Maria, property of Mauricio Mayorga, is established. During the month of March carry out the following transactions. Make a cash contribution worth L120,000.00, which value is deposited in the checking account of Banco DAVIVIENDA. 2 Merchandise is purchased for a value of L 80,000.00,(s)/(f)act. ()/(42), of which they grant us a reduction of L6,000.00, it is paid by check. This purchase generates expenses in the amount of L3,000.00, value owed to Transportes Los Arcos. 4 Merchandise is sold on credit to Marcela Galindo for the amount of L15,000.00, fact. 101. Conditions (3)/(10),(n)/(30.) Today's cash sales are L48,750.00, a value that includes sales tax. 5 Purchase of merchandise on credit from Mr. Miguel Bueso(s)/(f)act. ()/(764) for L 30,000.00, the sales tax is paid by check, the difference remains a liability without documentary guarantee. Client Marcela Galindo returns us L2,000.00 in merchandise. The full value is credited to your account. 6 Sale of merchandise in cash(s)/(f)act(.)/(02) for L85,000.00, a discount is granted based on sales volume in the amount of L900.00. We return L6,000.00 in merchandise from invoice 764. The total value is credited to our account. 7 From the sale of 6, they returned merchandise for L7,000,000 on invoice 02, the total value is paid by check. 8 Marcela Galindo pays us the full value of her debt in cash. Existing cash is deposited into our checking account.
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likesAnswer to a math question Prepare the items in the journal. NOTE: To register merchandise, use the analytical system. 1 Comercial Santa Maria, property of Mauricio Mayorga, is established. During the month of March carry out the following transactions. Make a cash contribution worth L120,000.00, which value is deposited in the checking account of Banco DAVIVIENDA. 2 Merchandise is purchased for a value of L 80,000.00,(s)/(f)act. ()/(42), of which they grant us a reduction of L6,000.00, it is paid by check. This purchase generates expenses in the amount of L3,000.00, value owed to Transportes Los Arcos. 4 Merchandise is sold on credit to Marcela Galindo for the amount of L15,000.00, fact. 101. Conditions (3)/(10),(n)/(30.) Today's cash sales are L48,750.00, a value that includes sales tax. 5 Purchase of merchandise on credit from Mr. Miguel Bueso(s)/(f)act. ()/(764) for L 30,000.00, the sales tax is paid by check, the difference remains a liability without documentary guarantee. Client Marcela Galindo returns us L2,000.00 in merchandise. The full value is credited to your account. 6 Sale of merchandise in cash(s)/(f)act(.)/(02) for L85,000.00, a discount is granted based on sales volume in the amount of L900.00. We return L6,000.00 in merchandise from invoice 764. The total value is credited to our account. 7 From the sale of 6, they returned merchandise for L7,000,000 on invoice 02, the total value is paid by check. 8 Marcela Galindo pays us the full value of her debt in cash. Existing cash is deposited into our checking account.
4.4### Journal Entries
#### March 1
**Cash Contribution**
- **Debit**: Cash in Bank (Banco DAVIVIENDA) L120,000
- **Credit**: Capital – Mauricio Mayorga L120,000
*Description*: Contribution of cash by owner Mauricio Mayorga deposited into the checking account.
#### March 2
**Purchase of Merchandise**
- **Debit**: Merchandise Inventory L74,000
- **Credit**: Cash in Bank (Banco DAVIVIENDA) L74,000
- **Debit**: Transportation Expenses L3,000
- **Credit**: Accounts Payable (Transportes Los Arcos) L3,000
*Description*: Purchase of merchandise with a discount, paid by check; transportation costs incurred and owed.
#### March 4
**Sales Transactions**
- **Debit**: Accounts Receivable (Marcela Galindo) L15,000
- **Credit**: Sales Revenue L15,000
- **Debit**: Cash in Bank (Banco DAVIVIENDA) L48,750
- **Credit**: Sales Revenue L44,318.18 (Net of sales tax)
- **Credit**: Sales Tax Payable L4,431.82
*Description*: Credit sales to Marcela Galindo and cash sales including sales tax.
#### March 5
**Purchase of Merchandise on Credit**
- **Debit**: Merchandise Inventory L30,000
- **Credit**: Accounts Payable (Miguel Bueso) L30,000
*Description*: Purchase of merchandise on credit from Miguel Bueso.
**Return of Merchandise by Marcela Galindo**
- **Debit**: Sales Returns and Allowances L2,000
- **Credit**: Accounts Receivable (Marcela Galindo) L2,000
*Description*: Return of merchandise by client Marcela Galindo, credited to her account.
#### March 6
**Sale of Merchandise in Cash**
- **Debit**: Cash in Bank (Banco DAVIVIENDA) L85,000
- **Credit**: Sales Revenue L84,100 (After discount)
- **Credit**: Sales Discounts L900
*Description*: Cash sale with a volume discount recorded.
**Return of Merchandise to Supplier**
- **Debit**: Accounts Payable (Miguel Bueso) L6,000
- **Credit**: Merchandise Inventory L6,000
*Description*: Return of merchandise to supplier Miguel Bueso, credit applied to the payable account.
#### March 7
**Return of Merchandise from Sale**
- **Debit**: Sales Returns and Allowances L7,000
- **Credit**: Cash in Bank (Banco DAVIVIENDA) L7,000
*Description*: Merchandise returned from the sale on March 6, cash refund issued.
#### March 8
**Receipt of Payment from Marcela Galindo**
- **Debit**: Cash in Bank (Banco DAVIVIENDA) [Amount to be confirmed based on the debt]
- **Credit**: Accounts Receivable (Marcela Galindo) [Same as debit]
*Description*: Full payment received from Marcela Galindo and deposited into the checking account.
### Notes
- Make sure to confirm the amounts, particularly for the last transaction where Marcela Galindo’s payment details are to be matched with her actual debt.
- Adjust sales tax rates and calculations based on local tax laws as necessary.
- Verify account titles with the company’s Chart of Accounts for consistency.
### Calculation for Marcela Galindo's Outstanding Debt
- March 4:
- March 5 (Return):
**Total Debt**:
Therefore, the journal entry for March 8 should be:
**March 8**
- **Debit**: Cash in Bank (Banco DAVIVIENDA)
- **Credit**: Accounts Receivable (Marcela Galindo)