Chapter 7, Problem 6E

Exercise 7-6 Purchases journal P3

Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal prepare a purchases journal like the one in Exhibit 7.9. Journalize the following transactions that should be recorded in the purchases journal.
July 1 Purchased $14,500 or merchandise on credit from Hector co., terms n/15.
4 Sold merchandise costing $320 to c. Paul for $430 cash.
8 Purchased $420 of office supplies from Zhang Co. on credit, terms n/30.
15 paid Hector $14,500 cash for the merchandise purchased on July 1.

21 Purchased $885 of store supplies on credit from Staples, terms n/30.

22 Sold merchandise costing $2,000 to MicroTran for $2,500 on credit, terms n/30.

23 Purchased office supplies from Depot for $305 cash.

25 Purchased $3,000 of merchandise on credit from Alfredo Co., terms n/30.

27 Paid employee salaries of $1,650 in cash.