Abby Ellen opened Abby s Toy House. As her newly hired accountant, your tasks are to do the…

Abby Ellen opened Abby s Toy House. As her newly hired accountant, your tasks are to do the following: 1. Journalize the transactions for the month of March. Use the periodic method. 2. Record to subsidiary ledgers and post to the general ledger as appropriate. 3. Prepare a schedule of accounts receivable and a schedule of accounts payable. (Use the same chart of accounts as in Problem 10A-4, but now capital is Abby Ellen. The working papers that accompany this text have all the forms you need to complete this problem.) 201X Mar. 1 Abby Ellen invested $7,800 in the toy store. 1 Paid 3 months rent in advance, check no. 1, $3,400. 1 Purchased merchandise from Morris Curtis Company on account, $4,300, invoice no. 410, dated March 2; terms 3/10, n/30. 3 Sold merchandise to David Plouffe on account, $1,300, invoice no. 1; terms 3/10, n/30. 6 Sold merchandise to John Drayton on account, $1,100, invoice no. 2; terms 3/10, n/30. 8 Purchased merchandise from Morris Curtis Co. on account, $1,300, invoice no. 415, dated March 9; terms 3/10, n/30. 9 Sold merchandise to David Plouffe on account, $400, invoice no. 3; terms 3/10, n/30. 9 Paid cleaning service, check no. 2, $400. 10 John Drayton returned merchandise that cost $500 to Abby s Toy House. Abby issued credit memorandum no. 1 to John Drayton for $500. 10 Purchased merchandise from Michael Keiser on account, $4,500, invoice no. 311, dated March 11; terms 1/15, n/60. 12 Paid Morris Curtis Co. invoi

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