During August, Berryhill Stamp Company had the following transactions:

Requirements 

1. Prepare a cash payments journal similar to the one illustrated in this chapter. Omit the check number ( \(\mathrm{Ck}\). No.) and posting reference (Post. Ref.) columns.

2. Record the transactions in the cash payments journal.

3. Total the amount columns of the journal. Determine that total debits equal total credits.

Transcribed Image Text:

Aug. 1 Paid $490 on account to Rabin Associates, net of a $10 discount for an earlier purchase of inventory. 5 Purchased inventory for cash, $1,100. 9 Paid $300 for supplies. 16 Paid $4,060 on account to LaGrange Company; there was no discount. 21 26 Purchased furniture for cash, $900. Paid $3,900 on account to Hallmark for an earlier purchase of inventory. The discount was $100. 30 Made a semiannual interest payment of $800 on a long-term note payable. The entire payment was for interest.