Golden Corporation had the following transactions:
$$\begin{array} { | l | l | }
\hline \text { oct } 1 & \text { Purchased merchandise inventory on account with credit terms of } 1 / 10 , \mathrm { n } / 30 \text { from Rice } \
& \text { Co., } \$ 2,100 . \
\hline 10 & \text { Purchased office supplies on account from MET Co., } \$ 250 \text {. Terms were n/EOM. } \
\hline 26 & \text { Purchased furniture on account with credit terms of } 2 / 10 , \mathrm { n } / 60 \text { from Ocean Co., } \$ 1,700 \
\hline & \
\hline
\end{array}$$ Use the following purchases journal to record the preceding transactions. The company uses a perpetual inventory system.

Question

Golden Corporation had the following transactions:
 $$\begin{array} { | l | l | } 
\hline \text { oct } 1 & \text { Purchased merchandise inventory on account with credit terms of } 1 / 10 , \mathrm { n } / 30 \text { from Rice } \
& \text { Co., } \$ 2,100 . \
\hline 10 & \text { Purchased office supplies on account from MET Co., } \$ 250 \text {. Terms were n/EOM. } \
\hline 26 & \text { Purchased furniture on account with credit terms of } 2 / 10 , \mathrm { n } / 60 \text { from Ocean Co., } \$ 1,700 \
\hline & \
\hline
\end{array}$$ Use the following purchases journal to record the preceding transactions. The company uses a perpetual inventory system.

Quizplus · Accepted Answer

The Answer of Golden Corporation had the following transactions:
 $$\begin{array} { | l | l | } 
\hline \text { oct } 1 & \text { Purchased merchandise inventory on account with credit terms of } 1 / 10 , \mathrm { n } / 30 \text { from Rice } \
& \text { Co., } \$ 2,100 . \
\hline 10 & \text { Purchased office supplies on account from MET Co., } \$ 250 \text {. Terms were n/EOM. } \
\hline 26 & \text { Purchased furniture on account with credit terms of } 2 / 10 , \mathrm { n } / 60 \text { from Ocean Co., } \$ 1,700 \
\hline & \
\hline
\end{array}$$ Use the following purchases journal to record the preceding transactions. The company uses a perpetual inventory system.

Golden Corporation Had the Following Transactions Use the Following Purchases Journal to Record the Preceding Transactions