Journalize the Following Transactions $\$ 2,000$ From the Bartkowski Inc $\$ 4,000$

question 52

Essay

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

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Definitions:

Contribution Margin

The amount remaining from sales revenue after variable costs are deducted, indicating the capability of covering fixed costs and generating profit.

Variable Manufacturing Costs

Costs that vary in total directly and proportionately with changes in the production volume, including direct materials, direct labor, and variable manufacturing overhead.

Selling Commission

A fee paid to a salesperson or agent for facilitating a sale, typically a percentage of the sale price.

Operating Leverage

A measure of how revenue growth translates into growth in operating income, indicating the proportion of fixed versus variable costs a company has.