148. Salem Co. uses special journals to record its transactions. They use the perpetual inventory system. Shown below are the purchasing and cash disbursement transactions for current month of July: ...

July

1

Purchased merchandise for cash from VanCo. $4,400, Check No. 1033.

2

Purchased office equipment from BatCo. on credit, $6,700, terms n/60. Invoice dated July1.

6

Paid Badger, Inc., $3,900 cash for previous purchases on account, which is net of a $100 discount, Check No. 1034.

9

Purchased merchandise from Aztec, Inc. on credit, terms 1/15, n/30, $23,600. Invoice dated July8.

10

Paid BatCo. cash for May 2 purchase, Check No. 1035.

18

Purchased office supplies on credit $130, terms net EOM from Roberts, Co., Invoice dated July17.

Purchases Journal

Date

Account

Date of
Invoice

Terms

PR

Accounts
Payable
Cr.

Inventory
Dr.

Office
Supplies
Dr.

Other
Accounts
Dr.

Cash Disbursements Journal

Date

Ck. No.

Payee

Account Debited

PR

Cash Cr.

Inventory
Cr.

Other
Accounts
Dr.

Accounts
Payable
Dr.