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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615

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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615
Textbook Problem
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Purchases journal

The following purchase transactions occurred during November for Manheim Inc.:

Nov. 6. Purchased office supplies for $330, on account from Carry Out Supply Inc.

14. Purchased office equipment for $1,950, on account from Zell Computer Inc.

22. Purchased office supplies for $195, on account from Carry Out Supply Inc.

Record these transactions in the following purchases journal format:

Chapter 5, Problem 5.3BPE, Purchases journal The following purchase transactions occurred during November for Manheim Inc.:

To determine

Journal

A journal is a book of original entry where all journal entries are recorded on the date of their occurrence in a chronological order.

Purchase Journal

Purchase Journal is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.

To record: The transactions in the purchase journal.

Explanation

Purchased office supplies for $330 on account:

In this case, office supplies are purchased from COS Company for $330 on account, so recorded in the purchase journal.

Purchased office equipment for $1,950 on account:

In this case, office equi...

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