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Journalizing Purchases Transactions
Journalize the following transactions in a general journal:
May 3 Purchased merchandise from Reed, $6,780. Invoice No. 321, dated May 1,
terms n/30.
9 Purchased merchandise from Omana, $2,550. Invoice No. 614, dated May
8, terms 2/10, n/30.
18 Purchased merchandise from Yao Distributors, $2,100. Invoice No. 180,
dated May 15, terms 1/15, n/30.
23 Purchased merchandise from Brown, $5,240. Invoice No. 913, dated May
22, terms 1/10, n/30.

Respuesta :

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Answer:

May 3

Dr Purchases $6,780

Cr Accounts Payable/Reed $6,780

Invoice No. 321

May 9

Dr Purchases $2,550

Cr Accounts Payable/Omana $2,550

Invoice No. 614

May 18

Dr Purchases $2,100

Cr Accounts Payable/Yao Distributors $2,100

Invoice No. 180

May 22

Dr Purchases $5,240

Cr Accounts Payable/Brown $5,240

Invoice No. 913

Explanation:

Preparation of the purchase transactions in a general journal

May 3

Dr Purchases $6,780

Cr Accounts Payable/Reed $6,780

Invoice No. 321

May 9

Dr Purchases $2,550

Cr Accounts Payable/Omana $2,550

Invoice No. 614

May 18

Dr Purchases $2,100

Cr Accounts Payable/Yao Distributors $2,100

Invoice No. 180

May 22

Dr Purchases $5,240

Cr Accounts Payable/Brown $5,240

Invoice No. 913