The chart of accounts of LR Company includes the following selected accounts. 112 Accounts Receivable 401 Sales Revenue 120 Inventory 126 Supplies 157 Equipment 201 Accounts Payable 412 Sales Returns and Allowances 505 Cost of Goods Sold 610 Advertising Expense In July, the following transactions were completed. All purchases and sales were on account. The cost of all merchandise sold was 70% of the sales price. July Purchased merchandise from Eby Company $8,120 2 Received freight bill from Shaw Shipping on Eby purchase $400 3 Made sales to Fort Company $1,570 and to Hefner Bros. $1,720 5 Purchased merchandise from Getz Company $3,280 8 Received credit on merchandise returned to Getz Company $320 13 Purchased store supplies from Dayne Supply $720 15 Purchased merchandise from Eby Company $3,700 and from Bosco Company $4,200 16 Made sales to Aybar Company $3,180 and to Hefner Bros. $1,970 18 Received bill for advertising from Welton Advertisements $590 21 Sales were made to Fort Company $200 and to Duncan Company $3,110. 22 Granted allowance to Fort Company for merchandise damaged in shipment $60 24 Purchased merchandise from Getz Company $2,980 26 Purchased equipment from Dayne Supply $770 28 Received freight bill from Shaw Shipping on Getz purchase of July 24, $490. 30 Sales were made to Aybar Company $5,850 ournalize the transactions above in a purchases journal, a sales journal, and a general journal. (Record entries in the order displayed in the problem statement.) Purchases Journal Account Credited (Debited) Ref. Accounts Payable Cr. Inventory Dr. Other Accounts Dr V 8120 8120 etz Compan 280 uly 13 Dayne Supply (Supplies) 126/V 720 Compa V 3700 4200 elton Advertisements (610/ uly 24 uly 26 uly 28 etz Compan ne Supply (Supplies) 157/v Shaw Shi 25250 23170 (201) (120) The chart of accounts of LR Company includes the following selected accounts. 112 Accounts Receivable 401 Sales Revenue 120 Inventory 126 Supplies 157 Equipment 201 Accounts Payable 412 Sales Returns and Allowances 505 Cost of Goods Sold 610 Advertising Expense In July, the following transactions were completed. All purchases and sales were on account. The cost of all merchandise sold was 70% of the sales price. July Purchased merchandise from Eby Company $8,120 2 Received freight bill from Shaw Shipping on Eby purchase $400 3 Made sales to Fort Company $1,570 and to Hefner Bros. $1,720 5 Purchased merchandise from Getz Company $3,280 8 Received credit on merchandise returned to Getz Company $320 13 Purchased store supplies from Dayne Supply $720 15 Purchased merchandise from Eby Company $3,700 and from Bosco Company $4,200 16 Made sales to Aybar Company $3,180 and to Hefner Bros. $1,970 18 Received bill for advertising from Welton Advertisements $590 21 Sales were made to Fort Company $200 and to Duncan Company $3,110. 22 Granted allowance to Fort Company for merchandise damaged in shipment $60 24 Purchased merchandise from Getz Company $2,980 26 Purchased equipment from Dayne Supply $770 28 Received freight bill from Shaw Shipping on Getz purchase of July 24, $490. 30 Sales were made to Aybar Company $5,850 ournalize the transactions above in a purchases journal, a sales journal, and a general journal. (Record entries in the order displayed in the problem statement.) Purchases Journal Account Credited (Debited) Ref. Accounts Payable Cr. Inventory Dr. Other Accounts Dr V 8120 8120 etz Compan 280 uly 13 Dayne Supply (Supplies) 126/V 720 Compa V 3700 4200 elton Advertisements (610/ uly 24 uly 26 uly 28 etz Compan ne Supply (Supplies) 157/v Shaw Shi 25250 23170 (201) (120)