Nestle, a Switzerland-based company, uses a sales journal, a purchases Journal, a cash receipts journal, a cash disbursements journal, and a general journal in a manner similar to that explained in this chapter. Jour¬ nalize the following summary transactions of Nestle transactions that should be recorded in the general journal. For those not recorded in the general journal, identify only the special journal where each should be recorded. (All amounts in millions of Swiss franc, CHF.)
1. Assume Nestle purchased CHF 17,000 of merchandise on credit from the suppliers.
2. Assume Nestle sold CHF 94,000 of merchandise (cost is CHF 42,300) on credit to customers.
3. Assume a key customer returned CHF 2,400 of (worthless) merchandise to Nestle (assume the cost of this merchandise is left in cost of goods sold).