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Category > Business & Finance Posted 06 May 2017 My Price 5.00

Record the following purchase transactions

Record the following purchase transactions in general journal form on the books of Lee Company (the buyer).

 

a. Purchased merchandise on account from Fry Company, invoice no. 8765, $1,500; terms 2/10, n/30.

b. Received credit memo no. 967 from Fry Company for damaged merchandise, $100.

c. Paid Fry Company in full within the discount period.

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Alpha Geek
(8)
Status NEW Posted 06 May 2017 10:05 AM My Price 5.00

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Attachments

file 1494065543-Answer.docx preview (101 words )
M-----------ay -----------05 -----------201-----------7 0-----------5:3-----------6 P-----------M -----------Rec-----------ord----------- th-----------e f-----------oll-----------owi-----------ng -----------pur-----------cha-----------se -----------tra-----------nsa-----------cti-----------ons----------- in----------- ge-----------ner-----------al -----------jou-----------rna-----------l f-----------orm----------- on----------- th-----------e b-----------ook-----------s o-----------f L-----------ee -----------Com-----------pan-----------y (-----------the----------- bu-----------yer-----------). ----------- a.----------- Pu-----------rch-----------ase-----------d m-----------erc-----------han-----------dis-----------e o-----------n a-----------cco-----------unt----------- fr-----------om -----------Fry----------- Co-----------mpa-----------ny,----------- in-----------voi-----------ce -----------no.----------- 87-----------65,----------- $1-----------,50-----------0; -----------ter-----------ms -----------2/1-----------0, -----------n/3-----------0. ----------- b.----------- Re-----------cei-----------ved----------- cr-----------edi-----------t m-----------emo----------- no-----------. 9-----------67 -----------fro-----------m F-----------ry -----------Com-----------pan-----------y f-----------or -----------dam-----------age-----------d m-----------erc-----------han-----------dis-----------e, -----------$10-----------0. ----------- c.----------- Pa-----------id -----------Fry----------- Co-----------mpa-----------ny -----------in -----------ful-----------l w-----------ith-----------in -----------the----------- di-----------sco-----------unt----------- pe-----------rio-----------d. ----------- An-----------swe-----------r -----------Tha-----------nk -----------you----------- fo-----------r y-----------our----------- in-----------ter-----------est----------- an-----------d b-----------uyi-----------ng -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.
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