Renton CoUses Special Journals to Record Its Transactions Record These Transactions in the Following Journals

question 135

Essay

Renton Co.uses special journals to record its transactions.They use the perpetual inventory system.Shown below are the purchasing and cash disbursement transactions for current month of May:
$\begin{array}{|l|l|l|}\hline \text { May } & 1 & \text { Purchased merchandise for cash from Zillah Co. } \$ 5,400, \text { Check No. } 1133 . \\\hline & 2 & \begin{array}{l}\text { Purchased office equipment from Echo Co. on credit, } \$ 7,200, \text { terms n/60. Invoice dated } \\\text { May 1. }\end{array} \\\hline & 6 & \begin{array}{l}\text { Paid Fox, Inc., } \$ 4,900 \text { cash for previous purchases on account, which is net of a } \$ 100 \\\text { discount, Check No. } 1134\end{array} \\\hline & 10 & \begin{array}{l}\text { Purchased merchandise from Inca, Inc. on credit, terms } 1 / 15, n / 30, \$ 24,600 . \text { Invoice dated } \\\text { May 8 }\end{array} \\\hline & 18 & \text { Puid Echo Co. cash for May 2 purchase, Check No. 1135. } \\\hline\end{array}$

Record these transactions in the following journals.

$$\begin{array}{l}\text { Cath Di.bursement Surntal }\\\begin{array} { | l | l | l | l | l | l | l | l | l | } \hline \text { Date } & \begin{array} { l } \text { Ck. } \\\text { Na. }\end{array} & \text { Payee } & \begin{array} { l } \text { Account } \\\text { Debited }\end{array} & \text { PR } & \begin{array} { l } \text { Cash } \\\mathrm { Cr } .\end{array} & \begin{array} { l } \text { Inventory } \\\text { Cr. }\end{array} & \begin{array} { l } \text { Other } \\\text { Accounts } \\\text { Dr. }\end{array} & \begin{array} { l } \text { Accounts } \\\text { Payable } \\\text { Dr. }\end{array} \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline & & & & & & & & \\\hline\end{array}\end{array}$$

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Definitions:

Peer-Feedback

The process of receiving constructive criticism and insights about one's work or actions from colleagues or individuals of similar status.

Multi-Generational Collaboration

The cooperation and partnership among individuals from different age groups, leveraging diverse experiences and perspectives for shared goals.

Economic Understanding

The comprehension of principles, concepts, and mechanisms of economics and the economy.

Interdependence

A condition where individuals or groups depend on each other to achieve goals, necessitating cooperation and coordination.