Renton 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 May:
Record these transactions in the following journals:
Definitions:
Return on Investment
A financial metric used to evaluate the efficiency or profitability of an investment, calculated by dividing the profit gained from an investment by the cost of the investment.
Original Investment
The initial amount of money used to purchase an asset, start a business venture, or invest in a financial instrument.
Operating Business
An active entity engaged in commercial, industrial, or professional activities to generate profit.
Gross Profit
Gross Profit is the financial gain obtained after deducting the cost of goods sold from the total revenue, indicating the efficiency of a company's core business activities.
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