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Secure https//newconnect.mheducat cess place your bookmarks here on the bookmarks bar. Import bookmarks noww... 4 (CH 7& 8 6 Saved Help The Picture Perfect Camera Shop had the following transactions for the month of August 2019 Aug. 1 Purchased cameras for $4,600 plus a freight charge of $218 fros the Mason 6 Purchased color filn for $se0 from Digital Products, Imvoice 989, dated August 1e Purchased camera cases for $958 fros Raven Leathers, Invoice 668, dated August 15 Returned defective cameras to Mason Company and received Credit Memorandum 205 28 Purchased cameras for $3,780 plus freight of $115 from the Braemer Caseras, 23 Received Credit Memorandum 597 for $85 from Raven Leathers. The amount is an Company, Invoice 532, dated July 29, net payable in 60 days. 4, net payable in 38 days 8; terns are 2/1e, n/30, for $59e. The cameras were originally purchased on Invoice 532 of July 29. Invoice 2093, dated August 18; terms are 1/10, n/6e. allowance for slightly damaged but usable soods purchased on Imvoice 668 of 020359 August 8. Prepare journal entries to record the above transactions assuming the company uses the periodic inventory sys inventory View transaction list Journal entry worksheet Purchased cameras for $4,000 plus a freight charge of $210 from the Mason Company, Invoice 532, dated July 29, net payable in 60 days. Note: Enter debits before credits. Debit Credit Date Aug 01, 2019

Explanation / Answer

Date General journal Debit Credit Aug.1 Purchases 14000 Freight in 210 Accounts payable 14210 Aug.6 Purchases 500 Accounts payable 500 Aug.10 Purchases 950 Accounts payable 950 Aug.15 Accounts payable 590 Purchase returns 590 Aug.20 Purchases 3700 Freight in 115 Accounts payable 3815 Aug.23 Accounts payable 85 Purchase returns/Allowances 85

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