Journalize each of the following transactions assuming a perpetual inventory system. Journalize each of the following transactions assuming a perpetual inventory system. (If no entry is required for a transaction/event,select "No journal entry required" in the first account field.)Feb. 1 Purchased $17,20e of merchandise inventory; terms 3/10, n/30.5 Purchased for cash $8,400 of merchandise inventory.6 Purchased $22,200 of merchandise inventory; terms 1/15, n/45.9 Purchased $2,000 of office supplies; terms n/15.10 Contacted a major supplier to place an order for $220,000 of merchandise in exchange for a 20% trade discount to be shippedon April 1 FOB destination.11 Paid for the merchandise purchased on February 1.24 Paid for the office supplies purchased on February 9.Mar.23 Paid for the February 6 purchase.View transaction listJournal entry worksheet13458Record purchase of merchandise for $17,200; terms 1/10, n/30.Note: Enter debits before credits.DateGeneral JournalDebitCreditFeb. 01

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Business

Accounting

Journalize each of the following transactions assuming a perpetual inventory system.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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