Peachtree Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May. May
01 Purchased $11,200 of merchandise on credit from Krause, Inc., terms n/30. Purchases journal May
08 Sold merchandise costing $2,000 to G. Seles for $3,300 on credit subject to a $52 sales discount if paid by the end of the month.
May
14 Purchased $350 of store supplies from Chang Company on credit, terms n/30.
May
17 Purchased $370 of office supplies on credit from Monder Company, terms n/30.
May
24 Sold merchandise costing $675 to D. Air for $1,010 cash.
May
28 Purchased store supplies from Porter’s for $112 cash.
May
29 Paid Krause, Inc., $11,200 cash for the merchandise purchased on May 1.

Required:
Journalize the May transactions that should be recorded in the purchases journal assuming the perpetual inventory system is used.

What is the purpose of taking a personality inventory assessment? a. to find out what personality traits you should acquire for a successful career b. to identify your personality traits and relate them to a suitable career c. to compare your personality traits with those of successful people in different careers d. to identify aspects of your personality that you can improve with the of a counselor

Assume a firm's production process requires an average of 80 days to go from raw materials to finished products and another 40 days before the finished goods are sold. if the accounts receivable cycle is 70 days and the accounts payable cycle is 80 days, what would the operating cycle be?

8. agreement and disagreement among economists suppose that bob, an economist from a university in arizona, and cho, an economist from a public television program, are arguing over saving incentives. the following dialogue shows an excerpt from their debate: cho: i think it's safe to say that, in general, the savings rate of households in today's economy is much lower than it really needs to be to sustain an improvement in living standards. bob: i think a switch from the income tax to a consumption tax would bring growth in living standards. cho: you really think households would change their saving behavior enough in response to this to make a difference? because i don't. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? rent ceilings reduce the quantity and quality of available housing. immigrants receive more in government benefits than they contribute in taxes. having a single income tax rate would improve economic performance.