(Deduct 1 point for each incorrect answer C. Enter the following transactions in the Purchases Journal, and Cash Payment Journal. Total the appropriate columns. ***See Demonstration Problem below "Key Points to Remember" on Page 503 of 22nd Edition. March 2 Purchased $2,000 of merchandise from Michaels Co. on account, Invoice 2177, with 1% trade discount. Credit terms 2/10, n/30. 3 Paid rent for the month of March. Issued Check #145 for $1,700. 6 Purchased merchandise for cash from Jamison Company. Issued Check #146 for $1,650. 10 Paid Invoice 2177 to Michaels Company. Issued Check #147 for $1,940.40. 12 Purchased $3,700 of merchandise from Sallinger's Incorporation on account, Invoice 2179. Credit terms 1/10, 16 Purchased $750 office supplies from Wave Company for cash, Invoice #2180. 26 Paid Invoice 2179 to Sallinger's Incorporation. Issued Check #149. 31 Purchased $1,200 of merchandise from Michaels Company on account, Invoice 2181. Credit terms 2/10, n/30. PURCHASES JOURNAL MARCH Purchases Debited/ Date Invoice # |From Whom Purchased PR Accounts Payable Credited (Deduct 2 points each incorrect answer CASH PAYMENTS JOURNAL Purchase Check Account Post General Accounts Discount Date Number Debited Ref Dr . Pay. Dr. Purchr. Cr. Cash cr TOTAL 4