212 Chapter 7 Exercise 7-16 During April, Xitang Company completed the following credit purchase transactions Purchased supplies, $400, from Central Co Purchased inventory $1,200, from McDonald Ltd. Xitang Company s Apr 11 uses a perpetual inventory system. lssued cheque to pay Central Co. 14 Purchased equipment, $4,300, from Baker Corp, aed cheque to pay Baker Corp 20 Purchased inventory, $2,210, from Khalil Inc 22 Required Record these transactions first in the genetal joarnalwith explanations-and then in the purchases journal. Omit credit terms, posting references, and invoice dates. After setting up the purchases journal form, which procedure for reconding transactions is quicker? Why? General Journal ACCOUNT TITLES AND EXPLANATIONS DATE POST REE DEBIT CREDIT 212 Chapter 7 Exercise 7-16 (4) (5 During April, Xitang Company completed the following credit purchase transactions: Purchased supplies, $400, from Central Co. Purchased inventory, $1,200, from McDonald Ltd. Xitang Company Apr. 5 11 uses a perpetual inventory system. Issued cheque to pay Central Co. Purchased equipment, $4,300, from Baker Corp. Issued cheque to pay Baker Corp. Purchased inventory, $2,210, from Khalil Inc. 14 19 20 22 Required Record these transactions first in the general journal-with explanations-and then in the purchases journal. Omit credit terms, posting references, and invoice dates. After setting up the purchases journal form, which procedure for recording transactions is quicker? Why? General Journal DATE ACCOUNT TITLES AND EXPLANATIONS POST REF DEBIT CREDIT swassis uogewo unoy 213 Purchases Journal PAGE CREDITS DEBITS OTHER ACCOUNTS INV DATE ACCOUNTS PAYABLE POST POST DATE ACCOUNT CREDITED TERMS REF INVENTORY SUPPLIES ACCOUNT TITLE REF AMOUNT