Consider the following transactions for Salem Drug Store:

View the transactions.

Requirements

Journalize the purchase transactions. Explanations are not required.

In the final analysis, how much did the inventory cost Salem Drug Store?

Requirement $1.$ Journalize the purchase transactions. Explanations are not required. $($Assume the company uses a perpetual inventory system. Round the answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from journal entries.$)$

Jan. $2$: Salem Drug Store purchased $$23,000$ worth of inventory on account with credit terms of $\frac{2}{15},\frac{n}{60},$ FOB shipping point from Ingles Medical Supplies.

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