Journalizing Purchases TransactionsJournalize the following transactions in a general journal:May 3 Purchased merchandise from Reed, $6,540. Invoice No. 321, dated May 1, termsn/30.' Purchased merchandise from Omana, $2,430. Invoice No. 614, dated May 8, terms2/10, n/30.18 Purchased merchandise from Yao Distributors, $2,030. Invoice No. 180, dated May15, terms 1/15, n/30.23 Purchased merchandise from Brown, $5,460. Invoice No. 913, dated May 22, terms1/10, n/30.Page:DOC. POST.NO. REF.DATE ACCOUNT TITLEDEBITCREDIT20--May 33.Invoice No. 3213.49.456.Invoice No. 6147 189Invoice No. 180910 2310111112Invoice No. 91312

Above all purchase transactions are on Credit. journal entries will be as follows.

Answered: Journalizing Purchases Transactions

Business

Accounting

Journalizing Purchases Transactions

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Journalizing Purchases Transactions
Journalize the following transactions in a general journal:
May 3 Purchased merchandise from Reed, $6,540. Invoice No. 321, dated May 1, terms
n/30.
' Purchased merchandise from Omana, $2,430. Invoice No. 614, dated May 8, terms
2/10, n/30.
18 Purchased merchandise from Yao Distributors, $2,030. Invoice No. 180, dated May
15, terms 1/15, n/30.
23 Purchased merchandise from Brown, $5,460. Invoice No. 913, dated May 22, terms
1/10, n/30.
Page:
DOC. POST.
NO. REF.
DATE ACCOUNT TITLE
DEBIT
CREDIT
20--
May 3
3.
Invoice No. 321
3.
4
9.
4
5
6.
Invoice No. 614
7 18
9
Invoice No. 180
9
10 23
10
11
11
12
Invoice No. 913
12

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