Altan Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements
journal, and a general journal. The following transactions occur in the month of June.
June 1 Purchased $5,400 of merchandise on credit from Krause, Inc., terms n/30.
8 Sold merchandise costing $720 on credit to G. Seles for $1,080 subject to a $21 sales discount
if paid by the end of the month.
14 Purchased $460 of store supplies from Chang Company on credit, terms n/30.
17 Purchased $480 of office supplies on credit from Monder Company, terms n/30.
24 Sold merchandise costing $272 to D. Lee for $432 cash.
28 Purchased store supplies from Porter’s for $72 cash.
29 Paid Krause, Inc., $5,400 cash for the merchandise purchased on June 1.
Prepare headings for a purchases journal like the one in Exhibit 7.9. Journalize the June transactions that
should be recorded in the purchases journal.
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