i (Click the icon to view the transactions.) Requirements 1. 2. Journalize the purchase transactions. Explanations are not required. In the final analysis, how much did the inventory cost Brighton Drug Store? Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Round the answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from journal entries.) Aug. 2: Brighton purchased $23,000 worth of inventory on account with credit terms of 3/15, n/60, FOB shipping point from Granite Medical Supplies. Date Accounts Debit Credit Aug. 2 More info

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.