The Picture Perfect Camera Shop Had the Following Transactions for the Month

question 32

Essay

The Picture Perfect Camera Shop had the following transactions for the month of August 2019. Record the transactions on page 7 of a purchases journal and page 9 of a general journal. Total, prove, and rule the purchases journal as of August 31.
Aug. 1 Purchased cameras for $3,500 plus a freight charge of $160 from the Mason Company, Invoice 532, dated July 29, net payable in 60 days.
6 Purchased color film for $475 from Digital Company, Invoice 989, dated August 4, net payable in 30 days.
10 Purchased camera cases for $925 from Raven Company, Invoice 668, dated August 8; terms are 2/10, n/30.
15 Returned defective cameras to Mason Company and received Credit Memorandum 205 for $540. The cameras were originally purchased on Invoice 532 of July 29.
20 Purchased cameras for $3,575 plus freight of $90 from Braemer Cameras, Invoice 2093, dated August 18; terms are 1/10, n/60.
23 Received Credit Memorandum 597 for $60 from Raven Company. The amount is an allowance for slightly damaged but usable goods purchased on Invoice 668 dated August 8.

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Definitions:

Observational Learning

Learning that occurs through observing the behavior and outcomes of others' actions rather than through direct experience.

Motor Reproduction

The process of imitating or reproducing a specific motor action or behavior, often a phase in observational learning.

Attention

The cognitive process of selectively concentrating on a discrete aspect of information, whether deemed subjective or objective, while ignoring other perceivable information.

Retention

The ability to keep, hold, or maintain something in the mind over time, especially information and memories.