Journalizing Purchases Transactions Enter the following transactions in a purchases journal. Jan. Purchased merchandise from Feng, $5,500. Invoice No. 416, dated January 1, terms 3 2/10, n/30. Purchased merchandise from Schneider, $9,100. Invoice No. 624, dated January 10, 12 terms n/30. Purchased merchandise from J. B. Barba, $5,800. Invoice No. 190, dated January 18, 19 terms 1/10, n/30. Purchased merchandise from Ramirez, $3,800. Invoice No. 923, dated January 25, 26 terms 1/15, n/30. Page: 1 PURCHASES DEBIT INVOICE NO. POST. REF. DATE FROM WHOM PURCHASED ACCTS. PAY. CREDIT M. d 1 1 M. d M. d 3 M. d 4 2) 3. 00 4.

Journalizing Purchases Transactions Enter the following transactions in a purchases journal. Jan. Purchased merchandise from Feng, $5,500. Invoice No. 416, dated January 1, terms 3 2/10, n/30. Purchased merchandise from Schneider, $9,100. Invoice No. 624, dated January 10, 12 terms n/30. Purchased merchandise from J. B. Barba, $5,800. Invoice No. 190, dated January 18, 19 terms 1/10, n/30. Purchased merchandise from Ramirez, $3,800. Invoice No. 923, dated January 25, 26 terms 1/15, n/30. Page: 1 PURCHASES DEBIT INVOICE NO. POST. REF. DATE FROM WHOM PURCHASED ACCTS. PAY. CREDIT M. d 1 1 M. d M. d 3 M. d 4 2) 3. 00 4.

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Description: Chapter 12 HomeworkеBookShow Me HowPrint ItemJournalizing Purchases TransactionsEnter the following transactions in a purchases journal.Jan.Purchased merchandise from Feng, $5,500. Invoice No. 416, dated January 1, terms3 2/10, n/30.Purchased mercha

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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Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the sales journal. May 2 Sold merchandise costing $300 to B. Facer for $450 cash, invoice no. 5703. 5 Purchased $2,400 of merchandise on credit from Marchant Corp. 7 Sold merchandise costing $800 to J. Dryer for $1,250, terms 2/10, n/30, invoice no. 5704. 8 Borrowed $9,000 cash by signing a note payable to the bank. 12 Sold merchandise costing $200 to R. Lamb for $340, terms n/30, invoice no. 5705. 16 Received $1,225 cash from J. Dryer to pay for the purchase of May 7. 19 Sold used store equipment (noninventory) for $900 cash to Golf, Inc. 25 Sold merchandise costing $500 to T. Taylor for $750, terms n/30, invoice no. 5706. SALES JOURNAL Date Account Debited Invoice Number Accounts Receivable Dr. Cost of Goods Sold Dr. Sales Cr. Inventory Cr.
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