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Exercise 6-47 Recording Purchases and Shipping Terms On May 12, Digital Distributors received three shipments of merchandise.Journalize the entries to record the first shipment and transportation charges, if required. May 12 ount) Accounting numericMay 12 (Purchased inventory on account) May 12 Accounts Payable required) Accounts Receivable Cash Journaliz d the second shi

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Date Account titles and explanation Debit(in $) Credit(in $)
Purchase no.1 May-12 Merchandise Inventory         1,42,500
Accounts Payable     1,42,500
May-12 Merchandise Inventory              8,300
Cash          8,300
Purchase no.2 May-12 Merchandise Inventory            87,250
Accounts Payable        87,250
May-12 NO ENTRY REQUIRED
Purchase no.3 May-12 Merchandise Inventory            21,650
Accounts Payable        21,650
May-12 NO ENTRY REQUIRED as the Purchase in FOB destination
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