Exercise 8.4 (Algo) Recording purchases with purchases discounts. LO 8-1

Required:

Record the following transactions of J. Min Designs in a general journal:

DATE			TRANSACTIONS
20X1
April	1		Purchased merchandise on credit from ORourke Fabricators, Invoice 885, $2,300, terms 1/10, n/30; freight of $23 prepaid by ORourke Fabricators and added to the invoice (total invoice amount, $2,323).
	9		Paid amount due to ORourke Fabricators for the purchase of April 1, less the 1 percent discount, Check 457.
	15		Purchased merchandise on credit from Kroll Company, Invoice 145, $1,400, terms 1/10, n/30; freight of $90 prepaid by Kroll and added to the invoice.
	17		Returned damaged merchandise purchased on April 15 from Kroll Company; received Credit Memorandum 332 for $100.
	24		Paid the amount due to Kroll Company for the purchase of April 15, less the return on April 17, taking the 1 percent discount, Check 470.