Recording purchases in a purchases journal Account for the following purchases in a purchases journal using Accounts
Question:
Recording purchases in a purchases journal Account for the following purchases in a purchases journal using Accounts Payable (acct. #207), Purchases (acct. #502), and Transportation-In (acct. #503). (Use the chapter demonstration problem as a guide.)
Dec.3 Purchase \($850\) in merchandise from Camille Inc., credit terms n/30; invoice date 12/2, freight \($72.\)
Dec.7 Purchase \($1,600\) in merchandise from Travis Inc., credit terms 2/10, n/30; invoice date 12/5, freight \($162.\)
Dec.9 Purchase \($65\) in merchandise from Braden Inc., credit terms n/30; invoice date 12/8, freight \($9.\)
Dec.13 Purchase \($2,750\) in merchandise from Camille Inc., credit terms n/30; invoice date 12/12, freight \($117.\)
Dec.14 Purchase \($162\) in merchandise from Braden Inc., credit terms 2/10, n/30; invoice date 12/14, freight \($33.\)
Dec.19\) Purchase \($966\) in merchandise from Derek Supply Co., credit terms 2/10, n/30; invoice date 12/19, freight \($67.\)
Step by Step Answer:
College Accounting Ch 1-14
ISBN: 9781260904314
1st Edition
Authors: John Wild, Vernon Richardson, Ken Shaw