210 Chapter 7 Exercise 7-13 O During February, Dean Products had the following transactions Feb. Paid 5490 on account to Marquis Corp, net of a $10 discount for an earlier purchase of inventory 3 Purchased inventory for cash, $3,800. Paid $300 cash for supplies 11 Purchased inventory on account from Monroe Corporation, $1,548 16 Paid $24.100 on account to LaGrange Ltd., there was no discount. Purchased furniture for cash, $2.800. 15 Paid $3,900 on account to Graff Software Lad. for an earlier $4,000 purchase of inventory. The purchase discount Made a semi-annual interest payment of $2.400 on a long-term note payable. The entire payment was for interest. 21 26 was $100. 28 (Assume none of the interest had been accrued previously) 1. Prepare a cash payments journal similar to the one illustrated in this chapter. Omit the payee column. 2. Record the transactions in the cash payments joumal. Which transaction should not be recorded in the cash payments jour- 3. Total the amount columns of the cash payments journal. Determine that the total debits equal the total credits. Required nal? In what journal does it belong? ismuol algisp dae