Journalize the Following Transactions

question 60

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. 12 transaction.
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Definitions:

Memorandum

A written document or note that serves as a means of communication or a record of information.

Sale of Goods

A commercial transaction in which a seller transfers ownership of tangible personal property to a buyer for a price.

Electronic Form

Digital or electronic format of documents or data, enabling electronic handling, storage, and transfer.

Enforceable

Pertains to a contract or obligation that is legally binding and can be upheld in a court of law.