If using a multi-column Purchases Journal which of the following transactions would be recorded?

Question

May 2Purchased merchandise for $5,400 on credit from the East Corp., terms n/30.
May 5Sold merchandise for $1,200 cash to Far Corp. Cost of merchandise was $200.
May 10Sold merchandise on credit for $2,500 to New Corp., Invoice No. 591, terms 2/10, n/30.
May 13Purchased merchandise for $3,400 on credit from West Corp., terms 1/10, n/30.
May 19Paid balance owed to East Corp. for May 2 sale.
May 20Collected amount due from New Corp. for May 10 sale.
May 24Purchased supplies on credit for $450 from Bonny Corp., terms n/30.
May 28Purchased merchandise for $3,900 from North Corp. on credit, terms 2/10, n/60.
May 30Received $130 from the bank for interest earned.

Answer 1

The following transactions would be recorded using a multi-column Purchases Journal :
May 2 Purchased merchandise for $5,400 on credit from the East Corp., terms n/30.
May 13 Purchased merchandise for $3,400 on credit from West Corp., terms 1/10, n/30.
May 24 Purchased supplies on credit for $450 from Bonny Corp., terms n/30.
May 28 Purchased merchandise for $3,900 from North Corp. on credit, terms 2/10, n/60.

The following transactions would be recorded using a Sales Journal :
May 5 Sold merchandise for $1,200 cash to Far Corp. Cost of merchandise was $200.
May 10 Sold merchandise on credit for $2,500 to New Corp., Invoice No. 591, terms 2/10, n/30

The following transactions would be recorded using a multi-column Cash Receipts Journal :
May 20 Collected amount due from New Corp. for May 10 sale.
May 30 Received $130 from the bank for interest earned.

The following transactions would be recorded using a multi-column Cash Disbursements Journal :
May 19 Paid balance owed to East Corp. for May 2 sale.

Answer 2

Purchases and payments for purchases. Not sales or cash receipts or interest income.