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(Solved): Delta Company uses a single-column purchases journal, a cash payments journal, and a general journa ...
Delta Company uses a single-column purchases journal, a cash payments journal, and a general journal to record transactions with its suppliers and others. The following are the transactions occurred in the month of September, 2022. Sept. 5 Purchased merchandise on account for \( \$ 25,000 \) from Dunn Company. Terms: 2/10, \( \mathbf{n} / 30 ; \) FOB shipping point. Sept. 6 Paid \( \$ 6,600 \) to Ken's Insurance Company for a two-year fire insurance policy. Sept. 8 Purchased store supplies on account for \( \$ 600 \) from Stone Pony Supply Company. Terms: 2/10, n/30. Sept. 11 Purchased merchandise on account for \( \$ 15,000 \) from Steve Corporation. Terms: \( 2 / 10, \mathrm{n} / 30 ; \mathrm{FOB} \) shipping point. Sept. 13 Granted a reduction of \( \$ 3,000 \) from Steve Corporation for merchandise purchased on September 11 and returned because of damage. Sept. 15 Paid Dunn Company for merchandise purchased on September 5, less discount. Sept. 16 Purchased merchandise for \( \$ 14,000 \) cash from Bright Company. Sept. 20 Paid Steve Corporation in full. Sept. 25 Purchased merchandise on account for \( \$ 21,000 \) from Ouzel Company. Terms: 2/10, n/30; FOB shipping point. Sept. 31 Purchased equipment for \( \$ 27,000 \) cash from Guillen Office Supply Company. REQUIRED: Record the transaction(s) for September that should be journalized in the purchase journal, cash payments journal and general journal. 1