Trimble Company Began Business on July 1 A Use the Purchases Journal and the Cash Disbursements Journal

Essay

Trimble Company began business on July 1. They use the perpetual inventory method. The following transactions involving purchases and cash disbursements occurred during July.
$\begin{array}{|l|l|l|}\hline \text { July } & 4 & \begin{array}{l}\text { Purchased } \$ 25,000 \text { of merchandise inventory on credit from the Fort City } \\\text { Company, terms } 2 / 10, \mathrm{n} / 30 . \text { Invoice dated July } 1 .\end{array} \\\hline \text { July } & 5 & \begin{array}{l}\text { Purchased } \$ 12,000 \text { of merchandise inventory on credit from the Phoenix } \\\text { Company, terms 2/10, n/30. Invoice dated July 2. }\end{array} \\\hline \text { July } & 8 & \begin{array}{l}\text { Purchased } \$ 3,000 \text { of office supplies for cash from Gleason Co. Check no. } \\1267 .\end{array} \\\hline \text { July } & 10 & \begin{array}{l}\text { Purchased } \$ 36,000 \text { of office equipment on credit from Office Minder, } \\\text { terms n/60. Invoice dated July 3. }\end{array} \\\hline \text { July } & 22 & \begin{array}{l}\text { Paid the amount due for the merchandise purchased from Fort City } \\\text { Company. Check no. 1268. } \\\text { Co. Check no. } 1269 .\end{array}\\\hline \end{array}$ a. Use the purchases journal and the cash disbursements journal provided to record these transactions.
b. Prepare a schedule of accounts payable as of July 31. There were no accounts payable on July 1.