Fox Company uses a voucher system.The following transactions were completed:
May 3 $\quad $ Purchased $\$ 4,750$ of merchandise; terms $2 / 10 , \mathrm { n } / 30$
$\quad $ $\quad $ $\quad $ Prepared voucher $\# 205$.
May $\quad $13 Paid voucher $\# 205$.
Required: Prepare journal entries to record the above transactions.Assume Fox Company uses the gross approach method for recording purchases.Omit explanations.

Question

Fox Company uses a voucher system.The following transactions were completed:
 May 3 $\quad $ Purchased $\$ 4,750$ of merchandise; terms $2 / 10 , \mathrm { n } / 30$
 $\quad $ $\quad $ $\quad $ Prepared voucher $\# 205$.
May  $\quad $13 Paid voucher $\# 205$.
 Required: Prepare journal entries to record the above transactions.Assume Fox Company uses the gross approach method for recording purchases.Omit explanations.

Quizplus · Accepted Answer

The Answer of Fox Company uses a voucher system.The following transactions were completed:
 May 3 $\quad $ Purchased $\$ 4,750$ of merchandise; terms $2 / 10 , \mathrm { n } / 30$
 $\quad $ $\quad $ $\quad $ Prepared voucher $\# 205$.
May  $\quad $13 Paid voucher $\# 205$.
 Required: Prepare journal entries to record the above transactions.Assume Fox Company uses the gross approach method for recording purchases.Omit explanations.

Fox Company Uses a Voucher System \quad Purchased $4,750\$ 4,750$4,750 Of Merchandise; Terms

Fox Company Uses a Voucher System $\quad$ Purchased $\$ 4,750$ Of Merchandise; Terms