Recording and Posting Purchase Transactions Using Special Journals The following are the purchase transactions for the Crescencio Laurente Company for the month of Oct. 2020. Merchandise purchased on account has a 2/10, n/30 credit NAME: SECTION: SCORE: PROFESSOR: Problem #2 of the Terms Oct. 1 6 7 9 10 15 16 17 Purchased merchandise on account from E. Dulay Supply Company, PS4,000. Invoice dated Oct. 1. Paid E. Dulay Supply Company amount due less discounts. Issued check no. 79. Purchased merchandise on account from L. Campos Company, P92,000 Invoice dated Oct. 6. Paid freight charges on the merchandise purchased from L. Campos Company, P3,000. Issued check no. 80. Returned P5,000 of merchandise purchased from L. Campos Company on Oct. 6. Paid L. Campos Company amount due less returns and discounts. Issued check no. 81. Paid salaries, P12,000. Issued check no. 82. Purchased merchandise for cash, P19,000. Issued check no. 83. Purchased merchandise on account from E. Cernias Company, P39,000 Invoice dated Oct. 16. Purchased merchandise on account from D. Palsado Company, P41,000. Invoice dated Oct. 19. Paid insurance premiums, P2,000. Issued check no. 84. Laurente withdrew P15,000 from the business. Issued check no. 85. Purchased merchandise from L. Sedanto Company, P58,000. Invoice dated Oct. 24. Paid D. Palsado Company P11,000 on account from the Oct. 19 purchase. Issued check no. 86. Returned P8,000 of merchandise purchased on Oct. 25 from L. Sedanto Company 19 21 24 25 30 31 1 1 Required: 1 1 Record the transactions in the appropriate journals. 2. Total the journals and post to the general and accounts payable ledgers. Use the following account numbers: Cash (110); Accounts Payable (210); Laurente, Capital (310); Laurente, Withdrawals (320); Purchases (510); Purchases Returns and Allowances (520); Purchases Discounts (530); Transportation in (540); Salaries Expense (610); Insurance Expense (620). The journals with their corresponding page numbers: Purchases (25); Cash Payments (43) and General (13). 3. Prepare a schedule of accounts payable