Try another version of this question Consider the following transactions for Grote's Shipping Materials: Journalize the purchase transactions assuming Grote's Shipping Materials uses the periodic inventory system.
Date Description Debit Credit July 6 July 6 July 13 July 13 July 16 July 16 July 16 Date Description Debit Credit July 6 Purchases 165,200 July 6 A/P 165,200 July 13 A/P 10,200 July 13 Purchase Returns & Allowances 10,200 July 16 A/P 155,000 July 16 Purchases Discount 4,650 July 16 Cash 150,350