Chem Company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash...
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Chem Company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. The following transactions occurred during the month of July 2020: July 1 Purchased merchandise on credit for $8,100 from Angler Inc., terms n/30. 8 Sold merchandise on credit to B. Harren for $1,500, subject to a $30 sales discount if paid by the end of the month. Cost, $820. 10 The owner of Chem Company, Pat Johnson, invested $2,000 cash. 14 Purchased atore supplies from Steck Company on credit for $240, terms 2/10, n/30. 17 Purchased merchandise inventory on credit from Marten Company for $2,600, terms n/30. 24 Sold merchandise to W. Winger for $630 cash. Cost, $350. 28 Purchased merchandise inventory from Hadley's for $9,000 cash. 29 Paid Angler Inc. $8,100 for the merchandise purchased on July 1. Required: Journalize the July transactions that should be recorded in the Purchases Journal assuming the periodic inventory system (Enter the transactions in the order provided in the question.) CHEM COMPANY Purchases Journal Accounts Credited Date of Invoice Date Terms Accounts Payable Credit Purchases Debit Office Supplies Debit Other Accounts Debit Totals
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