Reference no: EM133189726
Question - The following are the purchase transactions for the Bittersweet Company for the month of October 2020, Merchandise purchases on account has a 2/ 10, n/30.
Oct. 1 - Purchase merchandise on account ?om Apple Supply Co. P60,000.
Oct. 2 - Issued check in payment of account to Apple Supply Co.
Oct. 3 - Purchase merchandise on account to Pear Co. for P68,000.
Oct. 8 - Paid freight charges on the merchandise purchased from Pear Co. P3,000.
Oct. 9 - Returned P6,000 of merchandise purchased from Pear Co.
Oct. 10 - Issued check in payment to account to Pear Co.
Oct. 15 - Issued check for payment of salaries P122,200.
Oct. 16 - Purchase merchandise for cash P26,000. Issued Check.
Oct. 17 - Purchased merchandise on account from Peach Bookstore P55,000.
Oct. 21- Paid insurance premiums P4,600. Issued check.
Oct. 22 - Bittersweet withdrew P50,000 from the business.
Oct. 25 - Purchased merchandise from Verdict Pascal P68,000 on account.
Oct. 28 - Paid Peach Bookstore. Issued Check.
Oct. 30 - Returned P5,000 of merchandise purchased on Oct. 25
Required -
1. Record the transactions in purchase journal, cash payment journal and General journal.
2. Determine Total the Purchase and Cash payment Journal.
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