Exercise $5-2$ Recording journal entries for merchandise purchase transactions$-$perpetual LO$3$

Journalize each of the following transactions assuming a perpetual inventory system $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Feb $1$ Purchased $$16,200$ of merchandise inventory, teres $1/10$ n $/30$

$5.$ Purchased for cash $$7,400$ of merchandise inventory

$6$ Purchased $$21,200$ of merchandise inventory; teras $2/15$ n $/45$

$9$ Purchased $$1,500$ of office supplies, terms n$/15$

$10$ Contacted a major supplier to place an order for $$120,000$ of merchandise in exchange for a $30\%$ trade discount to be shipped on April $1$ FOB destination

$11$ Paid for the merchandise purchased on February $124$ Paid for the office supplies purchased on February $9$

Mar $23$ Paid for the February $6$ purchase.

View transaction list

Journal entry worksheet