Instructions Johnson Company uses a perpetual inventory system. On October 23, Johnson purchased $100,000 of inventory...

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Instructions Johnson Company uses a perpetual inventory system. On October 23, Johnson purchased $100,000 of inventory on cre

Instructions х Chart of Accounts х CHART OF ACCOUNTS Johnson Company General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue

Instructions х Chart of Accounts DICIULUI (X х TUIUTIES UISUUTT LUSL 514 Loss on Purchase Commitment LIABILITIES 211 Accounts

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Answer 1

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Date	Account Title	Post Ref.	Debit	Credit
Oct 23	Inventory		100,000
	Accounts Payable			100,000

Nov 30	Accounts Payable		100,000
	Cash			100,000

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Answer 2

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