Record the following transactions of J. Min Designs in a general journal. The company uses the perpetual inventory system. (Round final answers to the nearest whole dollar value.) DATE TRANSACTIONS20X1 April1 Purchased merchandise on credit from O’Rourke Fabricators, Invoice 885, $3,900, terms 1/10, n/30; freight of $110 was paid by O’Rourke Fabricators and added to the invoice (total invoice amount, $4,010). 9 Paid amount due to O’Rourke Fabricators for the purchase of April 1, less the 1 percent discount, Check 457. 15 Purchased merchandise on credit from Kroll Company, Invoice 145, $2,150, terms 1/10, n/30; freight of $165 prepaid by Kroll and added to the invoice. 17 Returned damaged merchandise purchased on April 15 from Kroll Company; received Credit Memorandum 332 for $140. 24 Paid the amount due to Kroll Company for the purchase of April 15, less the return on April 17, taking the 1 percent discount, Check 470.

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Description: Record the following transactions of J. Min Designs in a general journal. The company uses the perpetual inventory system. (Round final answers to the nearest whole dollar value.) DATE TRANSACTIONS20X1 April1 Purchased merchandise on credit from O’R

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College Accounting (Book Only): A Career Approach

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ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

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Problem 7E: Record the following transactions for a perpetual inventory system in general journal form. a. Sold...

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Record the following transactions of J. Min Designs in a general journal. The company uses the perpetual inventory system. (Round final answers to the nearest whole dollar value.)

DATE		TRANSACTIONS
20X1
April	1		Purchased merchandise on credit from O’Rourke Fabricators, Invoice 885, $3,900, terms 1/10, n/30; freight of $110 was paid by O’Rourke Fabricators and added to the invoice (total invoice amount, $4,010).
	9		Paid amount due to O’Rourke Fabricators for the purchase of April 1, less the 1 percent discount, Check 457.
	15		Purchased merchandise on credit from Kroll Company, Invoice 145, $2,150, terms 1/10, n/30; freight of $165 prepaid by Kroll and added to the invoice.
	17		Returned damaged merchandise purchased on April 15 from Kroll Company; received Credit Memorandum 332 for $140.
	24		Paid the amount due to Kroll Company for the purchase of April 15, less the return on April 17, taking the 1 percent discount, Check 470.

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