DE6-11 Link Back to Chapters 1 and 2 (Recording transactions). Use Austin Sound's pur- chases journal (Exhibit 6-12, page 241) and cash payments journal (Exhibit 6-13, page 243) to address these real-world questions faced by Charles Ernest, owner of the business. 1. Why did Austin Sound debit Rent Expense for the rent payment on November 3? 2. How much were Austin Sound's total purchases of inventory during November? How much were net purchases of inventory? What explains the difference between total pur- chases and net purchases? Which account holds these amounts? 3. Suppose it is December I and Ernest wishes to pay the full amount that Austin Sound owes on account. Examine the purchases journal (page 241) to determine whether Ernest can take any purchase discounts, and also consider the cash payments journal. Then make a general journal entry to record payment of the correct amount on December 1. Include an explanation."