Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
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
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 $24,000 of merchandise on credit from Hector Co., terns n/15. 4 Sold merchandise costing $1,270 to C. Paul for $1,380 cash. 8 Purchased 5800 of office supplies from Zhang Co. on credit, terns n/30. 15 Paid Hector $24,000 cash for the merchandise purchased on July 1. 21 Purchased $1,170 of store supplies on credit from Staples, terms 1/30. 22 Sold merchandise costing $2,950 to MicroTran for $3,450 on credit, terns n/30. 23 Purchased office supplies from Depot for $400 cash 25 Purchased $6,800 of merchandise on credit from Alfredo Co., terns n/30. 27 Paid employee salaries of $2,680 in cash. Office PURCHASES JOURNAL Date of Accounts Invoice Terms Payable CH Other Accounts Dr Inventory Dr Supplies Dr. Date Account
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669016fe87ef1_102669016fe1d743.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started