Journalizing Purchases Transactions Enter the following transactions in a purchases journal. Jan. Purchased merchandise from Feng, $5,500. Invoice No. 416, dated January 1, terms 3 2/10, n/30. Purchased merchandise from Schneider, $9,100. Invoice No. 624, dated January 10, 12 terms n/30. Purchased merchandise from J. B. Barba, $5,800. Invoice No. 190, dated January 18, 19 terms 1/10, n/30. Purchased merchandise from Ramirez, $3,800. Invoice No. 923, dated January 25, 26 terms 1/15, n/30. Page: 1 PURCHASES DEBIT INVOICE NO. POST. REF. DATE FROM WHOM PURCHASED ACCTS. PAY. CREDIT M. d 1 1 M. d M. d 3 M. d 4 2) 3. 00 4.

Journal Entries Under the Perpetual Inventory System Bhushan Building Supplies entered into the following transactions. June 1  Purchased merchandise on account from Brij Builder’s Materials, $30,000. 3  Purchased merchandise for cash, $24,000. 5  Sold merchandise on account to Champa Construction for $60,000. The merchandise cost $45,000.   Prepare journal entries under the perpetual inventory system.

Caesar 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 sales journal. June 5 Purchased $1,800 of merchandise on credit from Roman Corp. 9 Sold merchandise costing $495 to R. Allen for $825, terms n/10, Invoice No. 2080. 12 Sold merchandise costing $390 to J. Meyer for $650 cash, Invoice No. 2081. pay for the purchase of June 9. 19 Received $825 cash from R. Allen to 27 Sold merchandise costing $525 to B. Kraft for $750, terms n/10, Invoice No. 2082. Date Account Debited SALES JOURNAL Invoice Number Accounts Receivable Dr. Sales Cr. Cost of Goods Sold Dr. Inventory Cr.

Purchases Journal The following purchase transactions occurred during October for K-Town Inc.: Purchased office supplies for $190, on account from U-Save Supply Inc. Oct. 6. Purchased office equipment for $2,100, on account from Zell Computer Inc. Oct. 14. Oct. 26. Purchased office supplies for $295, on account from U-Save Supply Inc. Record these transactions in the following purchases journal. If an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" and leave the amount boxes blank. PURCHASES JOURNAL Account Credited Accounts Payable Cr. Office Supplies Dr. Other Accounts Dr. DATE Post. Ref. Amount Post. Ref. Oct. 6 Oct. 14 Oct. 26

Sales-related transactions using perpetual inventory system The following selected transactions were completed by Green LawnSupplies Co., which sells irrigation supplies primarily to wholesalers andoccasionally to retail customers: InstructionsJournalize the entries to record the transactions of Green Lawn SuppliesCo.

Objective To record merchandise trnasaction in general journal form Direction: Record the following transaction of Sterling Company in general journal from: a) Sold merchandise on account to Smith CO$8,000. B) Sold merchandise for cash $500 C) Purchased merchandise on credit from Sutton Co., $6,500 d) Issued a credit memorandum to Paul Jones for the return of return of damaged merchandise $300 e) Issued a check to Tami Owens for the return of merchandise that was the wrong model $175 f) Returns merchandise to B & M Manufacturing Co. and recived credit, $4,200.  g) Returned merchandise to Mobley Co. and recived a cash refund $800

Caesar 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 sales journal. June 5 Purchased $4,200 of merchandise on credit from Roman Corporation June 9 Sold merchandise costing $1,395 to R. Allen for $2,325, terms n/10, Invoice Number 2080. June 12 Sold merchandise costing $750 to J. Meyer for $1,250 cash, Invoice Number 2081. June 19 Received $2,325 cash from R. Allen to pay for the June 9 purchase. June 27 Sold merchandise costing $945 to B. Kraft for $1,350, terms n/10, Invoice Number 2082.

Caesar 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 sales journal. June 5 Purchased $3,800 of merchandise on credit from Roman Corp. 9 Sold merchandise costing $1,245 to R. Allen for $2,075, terms n/10, Invoice No. 2080. 12 Sold merchandise costing $690 to J. Meyer for $1,150 cash, Invoice No. 2081. 19 Received $2,075 cash from R. Allen to pay for the purchase of June 9. 27 Sold merchandise costing $875 to B. Kraft for Date Account Debited SALES JOURNAL Invoice Number $1,250, terms n/10, Invoice No. 2082. Accounts Receivable Dr. Sales Cr. Cost of Goods Sold Dr. Inventory Cr.

Brown Inc. records purchases in a purchases journal and purchase returns in the general journal. Oct. 1 Purchased inventory on account from Price Inc. for $2,000. Oct. 3 Purchased inventory on account from Cabrera Inc. for $3,000. Oct. 8 Returned half of the inventory to Price Inc. Oct. 9 Purchased inventory on account from Price Inc. for $4,200. Record the above transactions using a purchases journal, a general journal, and an accounts payable subsidiary ledger. The company uses the periodic method of accounting for inventory. If an amount box does not require an entry, leave it blank.   Page: 121   DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT   1 Oct. 8       Accounts Receivable-Cabrera Inc. Accounts Receivable-Cabrera Inc. 1 2         Accounts Payable-Price Inc. Accounts Payable-Price Inc. 2   PURCHASES JOURNAL Page: 113 Date   Account PurchaseOrder No. Ref. MerchandiseInventory DR AccountsPayable CR 2019   Oct. 1     fill…

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