**Purchase-Related Transactions Using Perpetual Inventory System****Instructions**The following selected transactions were completed by Capers Company during October of the current year:- **Oct. 1** - Purchased merchandise from UK Imports Co., $14,448, terms FOB destination, n/30.- **Oct. 3** - Purchased merchandise from Hoagie Co., $9,589, terms FOB shipping point, 2/10, n/60. Prepaid freight of $220 was added to the invoice.- **Oct. 4** - Purchased merchandise from Taco Co., $13,650, terms FOB destination, 2/10, n/30.- **Oct. 5** - Issued debit memo to Taco Co. for $4,350 of merchandise returned from purchase on October 4.- **Oct. 13** - Paid Hoagie Co. for invoice of October 3.- **Oct. 14** - Paid Taco Co. for invoice of October 4 less debit memo of October 5.- **Oct. 19** - Purchased merchandise from Veggie Co., $27,300, terms FOB shipping point, n/eom. - Paid freight of $400 on October 19 purchase from Veggie Co.- **Oct. 20** - Purchased merchandise from Caesar Salad Co., $22,000, terms FOB destination, 1/10, n/30.- **Oct. 31** - Paid Caesar Salad Co. for invoice of October 20. - Paid UK Imports Co. for invoice of October 1. - Paid Veggie Co. for invoice of October 19.Journalize the entries to record the transactions of Capers Company for October. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. ---### Chart of Accounts**Capers Company** *General Ledger*---#### ASSETS- **110** Cash- **120** Accounts Receivable- **125** Notes Receivable- **130** Merchandise Inventory- **131** Estimated Returns Inventory- **140** Office Supplies- **141** Store Supplies- **142** Prepaid Insurance- **180** Land- **192** Store Equipment- **193** Accumulated Depreciation-Store Equipment- **194** Office Equipment- **195** Accumulated Depreciation-Office Equipment#### LIABILITIES- **211** Accounts Payable-Caesar Salad Co.- **212** Accounts Payable-Hoagie Co.- **213** Accounts Payable-Taco Co.- **214** Accounts Payable-UK Imports Co.- **215** Accounts Payable-Veggie Co.- **216** Salaries Payable- **218** Sales Tax Payable- **219** Customers Refunds Payable- **221** Notes Payable#### EQUITY- **310** Owner, Capital- **311** Owner, Drawing- **312** Income Summary#### REVENUE- **410** Sales- **610** Interest Revenue#### EXPENSES- **510** Cost of Merchandise Sold- **521** Delivery Expense- **522** Advertising Expense- **524** Depreciation Expense-Store Equipment- **525** Depreciation Expense-Office Equipment- **526** Salaries Expense- **531** Rent Expense- **533** Insurance Expense- **534** Store Supplies Expense- **535** Office Supplies Expense- **536** Credit Card Expense- **539** Miscellaneous Expense- **710** Interest Expense---#### Explanation:The "Chart of Accounts" shown above is a complete listing of every account in the general ledger of Capers Company. This list includes the account names and assigned numbers as follows:1. **Assets**: Accounts related to resources owned by the company (e.g., Cash, Accounts Receivable, Merchandise Inventory).2. **Liabilities**: Accounts representing the company’s obligations (e.g., Accounts Payable, Salaries Payable, Notes Payable).3. **Equity**: Accounts representing owner’s interest (e.g

Name: **Purchase-Related Transactions Using Perpetual Inventory System****I
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: **Purchase-Related Transactions Using Perpetual Inventory System****Instructions**The following selected transactions were completed by Capers Company during October of the current year:- **Oct. 1** - Purchased merchandise from UK Imports Co., $14,