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Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in
Peachtree Company uses 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. May 1 Purchased $20,100 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $1,300 to G. Seles for $3,500 on credit subject to a $50 sales discount if paid by the end of the month. 14 Purchased $440 of store supplies from Chang Company on credit, terms n/30. 17 Purchased $460 of office supplies on credit from Monder Company, terms n/30. 24 Sold merchandise costing $600 to D. Air for $1,250 cash. 28 Purchased store supplies from Porter's for $130 cash. 29 Paid Krause, Inc., $20,100 cash for the merchandise purchased on May 1. Date of Invoice PURCHASES JOURNAL Accounts Terms Payable Cr. Office Supplies Dr. Other Accounts Dr. Date Account Inventory Dr
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