Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. July 1 Purchased $19,000 of merchandise on credit from Hector Company, terms n/15. July 4 Sold merchandise costing $770 to C. Paul for $880 cash. July 8 Purchased $600 of office supplies from Zhang Company on credit, terms n/30. July 15 Paid Hector $19,000 cash for the merchandise purchased on July 1. July 21 Purchased $1,020 of store supplies on credit from Staples, terms n/30. July 22 Sold merchandise costing $2,450 to MicroTran for $2,950 on credit, terms n/30. July 23 Purchased office supplies from Depot for $350 cash. July 25 Purchased $4,800 of merchandise on credit from Alfredo Company, terms n/30. July 27 Paid employee salaries of $2,100 in cash. Date Account Date of Invoice PURCHASES JOURNAL Terms Accounts Payable Credit Inventory Debit Office Supplies Debit Other Accounts Debit
Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. July 1 Purchased $19,000 of merchandise on credit from Hector Company, terms n/15. July 4 Sold merchandise costing $770 to C. Paul for $880 cash. July 8 Purchased $600 of office supplies from Zhang Company on credit, terms n/30. July 15 Paid Hector $19,000 cash for the merchandise purchased on July 1. July 21 Purchased $1,020 of store supplies on credit from Staples, terms n/30. July 22 Sold merchandise costing $2,450 to MicroTran for $2,950 on credit, terms n/30. July 23 Purchased office supplies from Depot for $350 cash. July 25 Purchased $4,800 of merchandise on credit from Alfredo Company, terms n/30. July 27 Paid employee salaries of $2,100 in cash. Date Account Date of Invoice PURCHASES JOURNAL Terms Accounts Payable Credit Inventory Debit Office Supplies Debit Other Accounts Debit
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter9: Accounting For Purchases And Cash Payments
Section: Chapter Questions
Problem 2AP
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