Question
PA5. Brown Inc. records purchases in a purchases journal and purchase returns in the general journal. Record the following transactions using a purchases journal, a
PA5. Brown Inc. records purchases in a purchases journal and purchase returns in the general journal. Record the following transactions using a purchases journal, a general journal, and an accounts payable subsidiary ledger. The company uses the periodic method of accounting for inventory.
| Oct. 1 | Purchased inventory on account from Price Inc. for $2,000 |
| Oct. 1 | Purchased inventory on account from Cabrera Inc. for $3,000 |
| Oct. 8 | Returned half of the inventory to Price Inc. |
| Oct. 9 | Purchased inventory on account from Price Inc. for $4,200 |
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No Nonsense Employee Retention Audit
Authors: Jeff Kortes
1st Edition
0988307014, 978-0988307018
