Journalize the following transactions (Assume a 360-day year when calculating interest.):
Definitions:
Rendering Services
The act of providing professional services or duties to a client or customer.
Purchases Journal
A ledger used in accounting to record all purchases of goods and services on credit.
Accounts Payable
Short-term liabilities or money owed by a company to its creditors or suppliers for goods and services that have been delivered but not yet paid for.
Merchandise Inventory
Goods that a retailer, wholesaler, or distributor holds for the primary purpose of selling to customers.
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