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E6.5 Record transactions in sales and purchases journal. L09,10,13 Duckstein Ltd uses special journals and a general journal. The following transactions occurred during September 2023.
E6.5 Record transactions in sales and purchases journal. L09,10,13 Duckstein Ltd uses special journals and a general journal. The following transactions occurred during September 2023. Sept. 2 Sold inventory on account to R. Crow, invoice no. 101 for $960, terms n/30. The cost of the inventory sold was $600. 10 Purchased inventory on credit from L. Dayne $1200, terms 2/7,n/30. 12 Purchased office equipment on account from B. Piazza $13000. 21 Sold inventory on account to Buffy Ltd, invoice no. 102 for $1600, terms 2/14,n/30. The cost of the inventory sold was $960. 25 Purchased inventory on account from F. Sage $1800, terms n/30. 27 Sold inventory to Harold Ltd for $1400 cash. The cost of the inventory sold was $840. Required (a)Draw up a sales journal and a single-column purchases journal (b)Record the transaction(s) for September that should be journalised in the sales journal and the purchases journal. (c)What is the advantage of having a multicolumn purchases journal as opposed to a single-column purchases journal
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