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The following are the purchase transactions for the Bittersweet Company for the month of October 2020, Merchandise purchases on account has a 2/10, n/30.
The following are the purchase transactions for the Bittersweet Company for the month of October 2020, Merchandise purchases on account has a 2/10, n/30. Oct. 1- Purchase merchandise on account from Apple supply Co. P60,000. 2 - Issued check in payment of account to Apple Supply Co. 3 - Purchase merchandise on account to Pear Co. for P68,000. 8- Paid freight charges on the merchandise purchased from Pear Co. P3,000. 9 - Returned P6,000 of merchandise purchased from Pear Co. 10 - Issued check in payment to account to Pear Co. 15 Issued check for payment of salaries P122,200. 16- Purchase merchandise for cash P26,000. Issued Check. 17- Purchased merchandise on account from Peach Bookstore P55,000. 21- Paid insurance premiums P4,600. Issued check. 22 Bittersweet withdrew P50,000 from the business. 25 Purchased merchandise from Verdict Pascal P68,000 on account. 28 Paid Peach Bookstore. Issued Check. 30 - Returned P5,000 of merchandise purchased on Oct. 25 Required: 1. Record the transactions in purchase journal, cash payment journal and General journal. 2. Total the Purchase and Cash payment Journal.
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