Journalize the Following Purchase Transactions for Main Street Office Supplies

question 34

Essay

Journalize the following purchase transactions for Main Street Office Supplies using the periodic inventory system.Explanations are not required.
$$\begin{array} { | l | l | } \hline &\text { Main Street buys } \$ 167,500 \text { worth of merchandise } \\\text { May 12 } & \begin{array} { l } \text { inventory on account with credit terms of } 2 / 10 , \\n / 30 .\end{array} \\\hline \text { May 16 } & \begin{array} { l } \text { Main Street returns } \$ 18,600 \text { of the merchandise to } \\\text { the vendor due to damage during shipment. }\end{array} \\\hline \text { May 21 } & \text { Main Street pays the amount due. } \\\hline\end{array}$$

---

Definitions:

Emotion Regulation

The processes by which individuals influence which emotions they have, when they have them, and how they experience and express these emotions.

Distraught

Deeply upset and agitated, often as a result of emotion or mental conflict.

Klinefelter Syndrome

A genetic condition in males caused by an extra X chromosome, characterized by low testosterone levels, reduced fertility, and other physical and cognitive alterations.

Gender Dysphoria

A psychological disorder characterized by significant distress about the difference between a person’s gender assigned at birth and that person’s experience of his or her true gender identity.