Triple Play Company engaged in the following transactions during the month of August:
August $ 4 \quad $ Purchased $ \$ 2,000 $ of merchandise on account, terms $ 1 / 10,12 / 30 $.
5 $\quad $Returned $ \$ 300 $ of the merchandise purchased on Aug 4 because it was defective.
6 $\quad $Purchased a machine for $ \$ 4,000 $. Paid $ 20 \% $ down and signed an $ 8 \% $, two-month note for the balance
8$\quad $ Purchased $ \$ 800 $ of merchanchse and paid $ \$ 820 $, which included freight.
13$\quad $ Paid the balance due on the purchase of Aug 4 .

Required:

Record these transactions in a general journal, assuming Triple Play uses a periodic inventory system.

Question

Triple Play Company engaged in the following transactions during the month of August:
 August $ 4 \quad $ Purchased $ \$ 2,000 $ of merchandise on account, terms $ 1 / 10,12 / 30 $.
5 $\quad $Returned $ \$ 300 $ of the merchandise purchased on Aug 4 because it was defective.
6 $\quad $Purchased a machine for $ \$ 4,000 $. Paid $ 20 \% $ down and signed an $ 8 \% $, two-month note for the balance
8$\quad $ Purchased $ \$ 800 $ of merchanchse and paid $ \$ 820 $, which included freight.
13$\quad $ Paid the balance due on the purchase of Aug 4 .

Required:

Record these transactions in a general journal, assuming Triple Play uses a periodic inventory system.

Quizplus · Accepted Answer

The Answer of Triple Play Company engaged in the following transactions during the month of August:
 August $ 4 \quad $ Purchased $ \$ 2,000 $ of merchandise on account, terms $ 1 / 10,12 / 30 $.
5 $\quad $Returned $ \$ 300 $ of the merchandise purchased on Aug 4 because it was defective.
6 $\quad $Purchased a machine for $ \$ 4,000 $. Paid $ 20 \% $ down and signed an $ 8 \% $, two-month note for the balance
8$\quad $ Purchased $ \$ 800 $ of merchanchse and paid $ \$ 820 $, which included freight.
13$\quad $ Paid the balance due on the purchase of Aug 4 .

Required:

Record these transactions in a general journal, assuming Triple Play uses a periodic inventory system.

Triple Play Company Engaged in the Following Transactions During the Month