Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

Exercise 2

Journalizing purchase transactions from an invoice-perpetual inventory
As the proprietor of Kingston Tires, Inc., you received the following invoice from a supplier:

Requirements
1. Journalize the transaction required on September 23, 2012.
2. Journalize the return on September 28, 2012, of the D39-X4 Radials, which were ordered by mistake.
3. Journalize the payment on October 1, 2012, to Fields Distribution, Inc.