Renton Co. uses special journals to record its transactions.
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Renton Co. uses special journals to record its transactions. They use the perpetual inventory system. Shown below are the purchasing and cash disbursement transactions for current month of May:
Record these transactions in the following journals.
Purchase Journal
Date
Account
Date of invoice
Terms
Pr Accounts payable Cr. Inventory Dr. Office Supplies
Other Accounts Dr.
5-2 Echo Co./Office Equipment 5-1 n/60 7,200
5-9 Inca Inc./Merchandise 5-8 1/15,n/30 24,600 24,600
5-18 Howe Inc./Office Supplies 5-17 EOM 230 230
5-31 Totals 32,030 24,600 230
Cash Disbursements Journal
Date Ck. No. Payee Account Debited
Pr Cash Cr. Inventory Cr. Other Accounts Dr.
Accounts Payable Dr.
5-1 1133 Zillah Co. Zillah Co. 5,400
5-6 1134 Fox Inc Fox Inc 100
5-10 1135 Echo Co. Echo Co. 7,200
5-31 Total 12,600 100
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Renton Co. uses special journals to record its transactions. They use the perpetual inventory system. Shown below are the purchasing and cash disbursement transactions for current month of May:
Record these transactions in the following journals.
Purchase Journal ...
Purchase this Solution
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