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Recording Purchases and Cash Payment Transactions Rivers Edge Canoe & Kayak had the
Chapter 15, Problem 15-9(choose chapter or problem)
Recording Purchases and Cash Payment Transactions
River’s Edge Canoe & Kayak had the following purchases and cash payment transactions for the month of March.
Instructions In your working papers, record the following transactions on page 16 of the general journal.
State the total debit amount to the Purchases account for the month.
Questions & Answers
QUESTION:
Recording Purchases and Cash Payment Transactions
River’s Edge Canoe & Kayak had the following purchases and cash payment transactions for the month of March.
Instructions In your working papers, record the following transactions on page 16 of the general journal.
State the total debit amount to the Purchases account for the month.
ANSWER:Step 1 of 2
Purchase transactions are credit transactions for obtaining merchandise or assets. The transaction is made against accounts payable. Cash payment may be related to the payment to payables or for cash purchases or cash expenses.