Define purchases Journal.

Describe the data flow in the buying process that begins when the purchasing organization sends a check to a vendor to settle an invoice for goods bought.

Define the term Retail Terminology.

How to journalize entries from accounting for sales with frieght transaction

Define account receivable

what document initiates the sale

Define LIFO inventory pools.

What questions should be asked after a returned item hasbeen counted and recorded?

Identify Postings from Purchases Journal Using the following purchases journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required: PURCHASES JOURNAL Page 49 Date Account Credited Post.Ref. AccountsPayableCr. StoreSuppliesDr. OfficeSuppliesDr. OtherAccountsDr. Post.Ref. Amount 20Y9                   Jan. 4 Coastal Equipment Co. (a) 5,325           Warehouse Equipment (g) 5,325 Jan. 6 Arrow Supply Co. (b) 4,000       4,000         Jan. 9 Valley Products (c) 1,875   1,600   275         Jan. 14 Office Warehouse (d) 2,200           Office Equipment (h) 2,200 Jan. 20 Office Warehouse (e) 6,000           Store Equipment (i) 6,000 Jan. 25 Metro Supply Co. (f) 2,740   2,740             Jan. 30     22,140   4,340   4,275       13,525       (j)   (k)   (l)       (m)   Post reference represents: a.   b.   c.…

Briefly describe each of the following documents or records: purchase requisition, purchase order, receiving report, vendor invoice, and voucher. Why would an entity combine all documents related to a purchase transaction into a “voucher packet”?