The following purchase transactions occurred during August for Backcountry Kavak Excursions.
Aug 1 Purchased Kevlar kayaks (equipment) for $ 426 on account from Gear Ine.
Aug 6 Purchased kayak paddles (supplies) for $ 834 on account from Southland Co.
Aug 14 Purchased life vests (supplies) for $ 3,273 on account from Gear Ine.
Homework Answers
Solution:
| Purchases Journal | |||||||
| Date | Account credited | Post Ref | Accounts payable Cr | Supplies Dr | Other accounts Dr | Post Ref | Amount |
| 1-Aug | Gear Inc. | $426.00 | Equipment | $426.00 | |||
| 6-Aug | Southland Co | $834.00 | $834.00 | No Entry | |||
| 14-Aug | Gear Inc. | $3,273.00 | $3,273.00 | No Entry | |||
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The following purchase transactions occurred during August for Backcountry Kavak Excursions.
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