Apr. 2 Purchased merchandise inventory on credit terms of 3/10, n/60 from Viking Co., $2,800.
5 Issued check no. 820 to purchase equipment for cash, $3,100.
11 Purchased merchandise inventory for cash, $500, issuing check no. 821.
12 Issued check no. 822 to pay Viking Co. net amount owed from Apr. 2.
19 Purchased office supplies on account from Danvers Supplies, $300. Terms were n/EOM.
24 Purchased merchandise inventory on credit terms of net 30 from Westchester Sales, $1,200.
28 Issued check no. 823 to pay for insurance coverage, debiting Prepaid Insurance for $1,600.
29 Issued check no. 824 to pay rent for the month, $ 1,700.
Requirements
1. Prepare headings for a purchases journal. Journalize the transactions that should be recorded in the purchases journal. The company uses the perpetual inventory system.
2. Total each column of the purchases journal.