Journalize the Following Transactions

question 110

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. 7 transaction.
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Definitions:

Silent Generation

The demographic cohort following the Greatest Generation and preceding the Baby Boomers, typically born between the mid-1920s and early-1940s, known for their strong work ethic and quiet, stoic nature.

Wheeler-Lea Act

The Wheeler-Lea Act is a United States federal law that amended the Federal Trade Commission Act, prohibiting unfair or deceptive acts or practices in commerce, with a particular focus on false advertising.

Federal Trade Commission

A U.S. government agency responsible for protecting consumers and promoting competition by preventing anticompetitive, deceptive, and unfair business practices.

Purchasing Power

The ability of an individual or group to buy goods or services, often relative to the amount of money they have.