What does Politte Supply use: a sales journal, a purchases journal, a cash receipts journal or a cash disbursements?

Redmon Company uses a sales journal, a purchases journal a cash receipts journal a cash disbursements journal?

• June 1 Purchased $8,100 of merchandise on credit from Vick, Inc., terms n_30. 8 Sold merchandise costing $900 on credit to R. Panke for $1,500 subject to a $30 sales discount if paid by the end of the month. 14 Purchased $240 of store supplies from Poe Company on credit, terms n_30. 17 Purchased $260 of office supplies on credit from Rehmer Company, terms n_30. 24 Sold merchandise costing $400 to L. Barnett for $630 cash. 28 Purchased store supplies from Piburn’s for $90 cash. 29 Paid Vick, Inc., $8,100 cash for the merchandise purchased on June 1. Prepare headings for a purchases journal like the one in Exhibit 7.9. Journalize the June transactions that should be recorded in the purchases journal.

• Answer:

  For this sort of question, you need to follow Larson−Wild−Chiappetta: Fundamental Accounting Principles, Seventeenth Edition, chapter 7.