what is a purchases journal?
what is a purchases journal?
Homework Answers
Answer- Purchase journal is a special purpose accounting journal book in which all the credit purchased of goods recorded. Assets purchased on credit is not recorded in it. Purchase journal keeps records orders placed using vendor credit or account payable. This is other subsidiary book also.
Which of the following is not a special journal? a. purchases journal b. accounts receivable journal...
Which of the following is not a special journal? a. purchases journal b. accounts receivable journal c. cash receipts journal d. cash payments journal
Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal....
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 $20,100 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $1,300 to G. Seles for $3,500 on credit subject to a $50 sales discount if paid by the end of the month. 14 Purchased $440 of store supplies from Chang Company on credit, terms n/30....
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal C) General journal D) Cash receipts journal 22. All of the column totals in the cash receipts journal are posted to general ledger accounts except the A) Accounts Receivable column total. B) Cash column total. C) Sales column total. D) Other Accounts column total. 23. The entries in a sales journal will show A) all sales of merchandise. B) the cash sales of the...
Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general...
Gomez 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 purchases journal. July 1 Purchased $14,500 of merchandise on credit from Hector Co., terms n/15. 4 Sold merchandise costing $320 to C. Paul for $430 cash. 8 Purchased $420 of office supplies from Zhang Co. on credit, terms n/30. 15 Paid Hector $14,500 cash for the merchandise purchased on July 1. 21 Purchased...
Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general...
Gomez 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 purchases journal. July 1 Purchased $14,500 of merchandise on credit from Hector Co., terms n/15. 4 Sold merchandise costing $320 to C. Paul for $430 cash. 8 Purchased $420 of office supplies from Zhang Co. on credit, terms n/30. 15 Paid Hector $14,500 cash for the merchandise purchased on July 1. 21 Purchased...
Peachtree Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements...
Peachtree Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May. May 1 Purchased $10,100 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $900 on credit to G. Seles for $1,500 subject to a $30 sales discount if paid by the end of the month. 14 Purchased $240 of store supplies from Chang Company on...
Prepare Journal Entries in a Purchases Journal Guardian Services Inc. had the following transactions during the...
Prepare Journal Entries in a Purchases Journal Guardian Services Inc. had the following transactions during the month of April: Apr. 4. Purchased office supplies from Officemate, Inc. on account, $510. Apr. 9. Purchased office equipment, Inc. on account from Tek Village Inc., $2,020. Apr. 16. Purchased office supplies from Officemate, Inc. on account, $140. Apr. 19. Purchased office supplies from Paper-to-Go Inc. on account, $210. Apr. 27. Paid invoice on April 4 purchase from Officemate, Inc. a. Prepare a purchases...
Prepare Journal Entries in a Purchases Journal Guardian Services Inc. had the following transactions during the...
Prepare Journal Entries in a Purchases Journal Guardian Services Inc. had the following transactions during the month of April: Apr. 4. Purchased office supplies from Officemate, Inc. on account, $640. Apr. 9. Purchased office equipment, Inc. on account from Tek Village Inc., $2,530. Apr. 16. Purchased office supplies from Officemate, Inc. on account, $170. Apr. 19. Purchased office supplies from Paper-to-Go Inc. on account, $260. Apr. 27. Paid invoice on April 4 purchase from Officemate, Inc. a. Prepare a purchases...
Multiple Choice Question 66 A company uses a sales journal, cash receipts journal, purchases journal, cash...
Multiple Choice Question 66 A company uses a sales journal, cash receipts journal, purchases journal, cash payments journal, and a general journal. A cash sales return would be recorded in the general journal. O sales journal. O cash receipts journal. O cash payments journal. -
Peachtree Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements...
Peachtree Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May. May 1 Purchased $12,600 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $1,000 on credit to G. Seles for $2,000 subject to a $35 sales discount if paid by the end of the month. 14 Purchased $290 of store supplies from Chang Company on credit,...
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 $20,100 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $1,300 to G. Seles for $3,500 on credit subject to a $50 sales discount if paid by the end of the month. 14 Purchased $440 of store supplies from Chang Company on credit, terms n/30....
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal C) General journal D) Cash receipts journal 22. All of the column totals in the cash receipts journal are posted to general ledger accounts except the A) Accounts Receivable column total. B) Cash column total. C) Sales column total. D) Other Accounts column total. 23. The entries in a sales journal will show A) all sales of merchandise. B) the cash sales of the...
Gomez 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 purchases journal. July 1 Purchased $14,500 of merchandise on credit from Hector Co., terms n/15. 4 Sold merchandise costing $320 to C. Paul for $430 cash. 8 Purchased $420 of office supplies from Zhang Co. on credit, terms n/30. 15 Paid Hector $14,500 cash for the merchandise purchased on July 1. 21 Purchased...
Gomez 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 purchases journal. July 1 Purchased $14,500 of merchandise on credit from Hector Co., terms n/15. 4 Sold merchandise costing $320 to C. Paul for $430 cash. 8 Purchased $420 of office supplies from Zhang Co. on credit, terms n/30. 15 Paid Hector $14,500 cash for the merchandise purchased on July 1. 21 Purchased...
Multiple Choice Question 66 A company uses a sales journal, cash receipts journal, purchases journal, cash payments journal, and a general journal. A cash sales return would be recorded in the general journal. O sales journal. O cash receipts journal. O cash payments journal. -
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