Recording transactions—purchases journalRequirementsPrepare headings for a purchases journal. Journalize the transactions that should be recorded in the purchases journal. The company uses the perpetual inventory system.Total each column of the purchases journal. Apr. 2 Purchased merchandise inventory on credit terms of 3/10, nv60 fromVanderbilt Co., $2,400.5 Issued check no. 820 to purchase equipment for cash, $3,600.11 Purchased merchandise inventory for cash, $750, issuing check no. 821.12 Issued check no. 822 to pay Vanderbilt Co. net amount owed from Apr. 2.19 Purchased office supplies on account from Downing Supplies, $500. Termswere n/EOM.24 Purchased merchandise inventory on credit terms of net 30 fromWilmington Sales, $1,900.28 Issued check no. 823 to pay for insurance coverage, debiting PrepaidInsurance for $1,000.29 Issued check no. 824 to pay rent for the month, $1,250.

Name: Recording transactions—purchases journalRequirementsPrepare headings f
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Recording transactions—purchases journalRequirementsPrepare headings for a purchases journal. Journalize the transactions that should be recorded in the purchases journal. The company uses the perpetual inventory system.Total each column of the purch