Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash paymentsjournal, and general journal. Journalize the following transactions that should be recorded inthe purchases journal.May 1 Purchased $21,600 of merchandise on credit from Krause, Inc., terms n/30.14 Purchased $470 of store supplies from Chang Company on credit, terms n/30.17 Purchased $490 of office supplies on credit from Monder Company, terms n/30.28 Purchased store supplies from Porter's for $136 cash.Asking to record in purchase journal.

Purchase Journal Date Amount Date of invoice Terms Account Payable Cr Inventory Dr Office…

Answered: Peachtree Company uses sales journal,…

Peachtree Company uses sales journal, purchases journal, ournal, and general journal. Journalize the following tran he purchases journal.

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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Question

Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments
journal, and general journal. Journalize the following transactions that should be recorded in
the purchases journal.
May 1 Purchased $21,600 of merchandise on credit from Krause, Inc., terms n/30.
14 Purchased $470 of store supplies from Chang Company on credit, terms n/30.
17 Purchased $490 of office supplies on credit from Monder Company, terms n/30.
28 Purchased store supplies from Porter's for $136 cash.
Asking to record in purchase journal.

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