A company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal,
Question:
A company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. The following transactions occurred during the month of August.
Aug. 1 Purchased merchandise for \(\$ 60\) on credit from \(\mathrm{Z}\) Company, terms \(2 / 10, \mathrm{n} / 30\).
2 Purchased merchandise for \(\$ 75\) on credit from B Company, terms \(2 / 15, \mathrm{n} / 60\).
5 Issued check number 5 to Q Company to buy store supplies for \(\$ 15\).
15 Sold merchandise on credit to F. Hane for \(\$ 120\), terms \(n / 30\).
16 Issued check number 6 for \(\$ 55\) to repay a note payable to State Bank.
17 Issued check number 7 to B Company to pay the amount due for the purchase of August 2, less the discount.
31 Issued check number 8 to \(\mathrm{Z}\) Company to pay the amount due for the purchase of August 1 .
31 Paid salary of \(\$ 30\) to \(D\). Jones by issuing check number 9 .
\section*{Required}
1. On a sheet of notebook paper, draw a multicolumn Cash Disbursements Journal like the one that appears in Illustration E-4. (Dollar amounts in this exercise are small so that you may use narrow columns.)
2. Journalize the transactions during August that should be recorded in the Cash Disbursements Journal.
Exercise E-6 General Journal Transactions
(L.O. 1, 2)
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