The suppliers to ship and bill for additional quantities

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Prepare journal entries to record the following transactions for the Village of Radnor. Classify the expenditures as Parks supplies.
1.Placed purchase order 960 for supplies in the amount of $ 8,000 and purchase order 961 for supplies in the amount of $ 6,000. The purchase orders allowed the suppliers to ship and bill for additional quantities, up to 5 percent of the order.
2.Received the supplies ordered on purchase order 960, together with an invoice for $ 8,300. The sup-plies, including the additional quantities, were accepted, and a voucher was prepared for $ 8,300.
3.Received all the supplies ordered on purchase order 961, together with an invoice for $ 5,800. The supplier said that production costs were less than anticipated, and it was passing the lower cost on to Radnor. A voucher for $ 5,800 was prepared.
4.The voucher for $ 8,300 was paid.

Reference no: EM13868839

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