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S711 Use Slopes Ski Shops purchases journal (Exhibit 79, page 387) to address these questions that Steve Austin, the owner of the business, is faced

S711 Use Slopes Ski Shops purchases journal (Exhibit 79, page 387) to address these questions that Steve Austin, the owner of the business, is faced with. How much were Slopes total purchases of inventory during November? Suppose it is December 1 and Slopes wishes to pay the full amount that Slopes owes on account. Examine only the purchases journal. Then make a general journal entry to record payment of the correct amount on December 1. Include an explanation

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