Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal.
Question:
Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal.
July 1 Purchased $14,500 of merchandise on credit from Hector Company, terms n/15.
July 4 Sold merchandise costing $320 to C. Paul for $430 cash.
July 8 Purchased $420 of office supplies from Zhang Company on credit, terms n/30.
July 15 Paid Hector $14,500 cash for the merchandise purchased on July 1.
July 21 Purchased $885 of store supplies on credit from Staples, terms n/30.
July 22 Sold merchandise costing $2,000 to MicroTran for $2,500 on credit, terms n/30.
July 23 Purchased office supplies from Depot for $305 cash.
July 25 Purchased $3,000 of merchandise on credit from Alfredo Company, terms n/30.
July 27 Paid employee salaries of $1,650 in cash.
|