Journalize the Following Transactions

question 69

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. 5 transaction.
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Definitions:

Revenue Expenditures

Short-term expenses incurred during normal business operations that are charged against revenue in the period they are incurred.

Capital Expenditures

Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment.

Major Overhaul

A significant restoration or repair of equipment, aimed at extending its useful life.

Lubrication

The process or action of applying a substance (such as oil or grease) to minimize friction and wear between mechanical parts.