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Purchase - related transactions Stylon Co . , a women's clothing store, purchased $ 1 9 , 0 0 0 of merchandise from a supplier
Purchaserelated transactions
Stylon Co a women's clothing store, purchased $ of merchandise from a supplier on account, terms FOB destination, with an invoice amount of $ receiving a credit memo.
a Journalize Stylon's entry to record the purchase. If an amount box does not require an entry, leave it blank.
Accounts Payable
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a A purchase increases Inventory and Accounts Payable.
b Journalize Stylon's entry to record the merchandise returfilif an amount box does not require an entry, leave it blank.
Accounts Payable
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b A return reduces Inventory and Accounts Payable in the purchaser's records.
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