Question
What is the journal entry for a transaction under a periodic inventory system where a company purchases inventory from multiple suppliers on one day ?
What is the journal entry for a transaction under a periodic inventory system where a company purchases inventory from multiple suppliers on one day?
For example:
Dec. 1 Purchase Inventory
5 Widgets from ABC Company at $x
10 Gadgets from XYZ Corp. at $x
1 Robot from POC Inc. at $x
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
