Question: Journalize and post the preceding transactions (Exercise 15B-2 ) using a two-column journal and T accounts. Exercise 15B-2 201X 5 Purchased on account 5 units

Journalize and post the preceding transactions (Exercise 15B-2 ) using a two-column journal and T accounts.

Exercise 15B-2

201X 5 Purchased on account 5 units at a cost of $8 each. (Inventory on hand prior to this purchase was zero units.) Nov. 6 Sold 2 units for $16.40 each. (Hint: The inventory record only contains informa- tion about the cost of a product, not the selling price!) This is a cash sale. 7 Sold 2 units for $15.40 each. This is a cash sale. 10 Purchased on account 13 additional units at a cost of $8 each.

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