Montalvo Company uses special journals and a general journal. The following transactions occurred during September 2008.

Instructions

(a) Prepare a sales journal (see Illustration 7-7) and a single-column purchase journal (see Illustration 7-13).

(b) Record the transaction(s) for September that should be journalized in the sales journal and the purchases journal.

Illustration 7-7

Illustration 7-13

Transcribed Image Text:

Sept. 2 Sold merchandise on account to T. Hossfeld, invoice no. 101, $720, terms n/30. The cost of the merchandise sold was $420. 10 Purchased merchandise on account from L. Rincon $600, terms 2/10, n/30. 12 Purchased office equipment on account from R. Press $6,500. 21 Sold merchandise on account to P. Lowther, invoice no. 102 for $800, terms 2/10, n/30. The cost of the merchandise sold was $480.