Chapter 7, Problem S7.8SE

Recording transactions in a purchases journal
Learning Objective 3

Oct. 1 Purchased merchandise Inventory on account with credit terms of 4/10,
n/30 from Mayer Co.. $2.200.
11 Purchased office supplies on account from Bird Co., $600. Terms were n/EOM.
24 Purchased furniture on account with credit terms of 3/10. n/60 from Silly
Co., $900.

Use the following purchases journal to record the preceding transactions.

							other	Accounts	DR
Date	Vendor Account Credited	Terms	Post, Ref.	Accounts Payable CR	Merchandise Inventory DR	Office Supplies DR	Account Title	Post, Ref.	Amount
2018

NOTE: SHORT EXERCISE S7-8 must be completed before attempting SHORT EXERCISE S7-9.