Journalize the Following Transactions

question 14

Essay

Journalize the following transactions. All purchases are on account and subject to terms of 2/10, n/30. The perpetual inventory method is used.
Nov. 3 Purchased merchandise with a price of $4,000 from the Bart Inc.
Nov. 5 Purchased merchandise from the Thies and Co. with a price of $2,000.
Nov. 7 Purchased merchandise with a price of $2,000 from the Montana Supply Co.
Nov. 10 Paid the amount due to Bart Inc.
Nov. 12 Paid the amount due to Thies and Co.
Nov. 23 Paid the amount due to Montana Supply Co.
-Journalize the Nov. 3 transaction.
__________________________________________ __________ __________
__________________________________________ __________ __________

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Definitions:

Non-linear Curve

A graphical representation where the rate of change is not constant, demonstrating a relationship that does not follow a straight line.

Constant

A situation or variable in economics that does not change, or a fixed quantity within a particular analysis.

Infinite

A concept or quantity that has no end or limit, often used in mathematics, physics, and discussing concepts with no bounds.

Positive

In economics, it often refers to statements or propositions that can be tested and validated against real-world data, as opposed to normative, which are value-based.