**PA9. LO 6.5** Record the following purchase transactions of Money Office Supplies.| Date | Transaction Details ||------------|---------------------|| Aug. 3 | Purchased 45 chairs on credit, at a cost of $55 per chair. Shipping charges are an extra $3 cash per chair and are not subject to discount. Terms of the purchase are 4/10, n/60, FOB Shipping Point, invoice dated August 3. || Aug. 7 | Purchased 30 chairs with cash, at a cost of $50 per chair. Shipping charges are an extra $4.50 cash per chair and are not subject to discount. Terms of the purchase are FOB Destination. || Aug. 12 | Money Office Supplies pays in full for their purchase on August 3. |

Journal: Journal is the book of original entry. Journal consists of the day today financial…

Answered: Record the following purchase…

Business

Accounting

Record the following purchase transactions of Money Office Supplies.

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

**PA9. LO 6.5** Record the following purchase transactions of Money Office Supplies.

| Date | Transaction Details |
|------------|---------------------|
| Aug. 3 | Purchased 45 chairs on credit, at a cost of $55 per chair. Shipping charges are an extra $3 cash per chair and are not subject to discount. Terms of the purchase are 4/10, n/60, FOB Shipping Point, invoice dated August 3. |
| Aug. 7 | Purchased 30 chairs with cash, at a cost of $50 per chair. Shipping charges are an extra $4.50 cash per chair and are not subject to discount. Terms of the purchase are FOB Destination. |
| Aug. 12 | Money Office Supplies pays in full for their purchase on August 3. |

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