Question

Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. July 1 Purchased $14,500 of 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 $3,080 of merchandise on credit from Alfredo Co., terms n/30. 27 Paid employee salaries of $1,650 in cash. PURCHASES JOURNAL Accounts Office Other Date of Invoice Date Account Terms Payable Cr. Inventory Dr. Supplies Dr. Accounts Dr.

Answer 1

Purchase Journal Date Accounts Doutof Invoice others Term - 1/15 Payabuer. Tablets. $14.500 Inventory In ge $14,500 Supplies Hector Co. & July Zhang lo, n/30 $420 $420 21 July Staples m/30 $ 885 $ 885 25 July Alfredo Co. M/30 $3000 $3000 Total, $18805 $175.0 $420 $885 Notel Purchase Journal recorrels ony. Con Entries of on Cosn/ crelit cloeeht only celit Punhase Reconeled in Purbases and sale Purchase of Inventory of Inventory Journal.