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Trendy Beachwear & Accessories' purchases journal recorded five entries that were for valid transactions. However, the purchases journal had several errors. Actually, only one entry
Trendy Beachwear & Accessories' purchases journal recorded five entries that were for valid transactions. However, the purchases journal had several errors. Actually, only one entry was correct, and the other four entries had errors. PURCHASES JOURNAL Credits Debits OTHER ACCOUNTS Invoice Post Accounts Account Post DATE May Supplier 5 Salty Apparel Date Ref. Payable Inventory Supplies Title Ref. Amount 05/04 5,400 Purchases Discounts 300 5,400 7 Furniture Forever 05/05 5,700 5,700 13 Quick Office Suppliers 05/13 1,650 1,650 17 Swimco Swimwear 05/15 A 3,800 3,800 25 Summersalt Sundresses 05/25 3,600 (3,600) Totals 16,550 9.050 2,100 5.400 (200) (120) (130) Required: A. Which entry in the purchases journal was recorded correctly? B. Prepare a corrected purchases journal. If required, create your own chart of account number A. B. Credits Account PURCHASES JOURNAL Debits OTHER ACCOUNTS Invoice Account Date Post Account Post DATE Credited Ref. Payable Inventory Supplies Title Ref. Amount (200) (120) (130)
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