Journalizing Purchases Transactions Journalize the following transactions in a general journal: May 3 Purchased merchandise from Reed, $6,100. Invoice No. 321, dated May 1, terms n/30. 9 Purchased merchandise from Omana, $2,500. Invoice No. 614, dated May 8, terms 2/10, n/30. 18 Purchased merchandise from Yao Distributors, $2,200. Invoice No. 180, dated May 15, terms 1/15, n/30. 23 Purchased merchandise from Brown, $5,300. Invoice No. 913, dated May 22, terms 1/10, n/30. If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20-- May 3 1 2 2 3 Invoice No. 321 3 4 9 4 5 5 6 Invoice No. 614 6 7 18 7 8 8 9 Invoice No. 180 9 10 23 10 11 11 12 Invoice No. 913 12 What is the correct way to fill this journal out? Can you please explain your process.
Journalizing Purchases Transactions Journalize the following transactions in a general journal: May 3 Purchased merchandise from Reed, $6,100. Invoice No. 321, dated May 1, terms n/30. 9 Purchased merchandise from Omana, $2,500. Invoice No. 614, dated May 8, terms 2/10, n/30. 18 Purchased merchandise from Yao Distributors, $2,200. Invoice No. 180, dated May 15, terms 1/15, n/30. 23 Purchased merchandise from Brown, $5,300. Invoice No. 913, dated May 22, terms 1/10, n/30. If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20-- May 3 1 2 2 3 Invoice No. 321 3 4 9 4 5 5 6 Invoice No. 614 6 7 18 7 8 8 9 Invoice No. 180 9 10 23 10 11 11 12 Invoice No. 913 12 What is the correct way to fill this journal out? Can you please explain your process.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter11: Accounting For Purchases And Cash Payments
Section: Chapter Questions
Problem 1CP
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Journalizing Purchases Transactions
Journalize the following transactions in a general journal:
May 3 | Purchased merchandise from Reed, $6,100. Invoice No. 321, dated May 1, terms n/30. |
9 | Purchased merchandise from Omana, $2,500. Invoice No. 614, dated May 8, terms 2/10, n/30. |
18 | Purchased merchandise from Yao Distributors, $2,200. Invoice No. 180, dated May 15, terms 1/15, n/30. |
23 | Purchased merchandise from Brown, $5,300. Invoice No. 913, dated May 22, terms 1/10, n/30. |
If an amount box does not require an entry, leave it blank.
Page:
DATE | ACCOUNT TITLE | DOC. NO. |
POST. REF. |
DEBIT | CREDIT | ||
---|---|---|---|---|---|---|---|
1 | 20-- May 3 | 1 | |||||
2 | 2 | ||||||
3 | Invoice No. 321 | 3 | |||||
4 | 9 | 4 | |||||
5 | 5 | ||||||
6 | Invoice No. 614 | 6 | |||||
7 | 18 | 7 | |||||
8 | 8 | ||||||
9 | Invoice No. 180 | 9 | |||||
10 | 23 | 10 | |||||
11 | 11 | ||||||
12 | Invoice No. 913 | 12 |
What is the correct way to fill this journal out?
Can you please explain your process.
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