Question: How do I record this in the special journals? What is the journal entry? Purchased 10 computers from Vendor _ Higgins Co. for $400. Freight

How do I record this in the special journals? What is the journal entry?

Purchased 10 computers from Vendor _ Higgins Co. for $400. Freight expense is $80. Use the vendors shipping terms as stated in their subsidiary account. IF FOB Shipping Point, factor the freight expense into the cost per unit in the inventory record.

Terms for Higgins: 2/10, n/30, FOB shipping point

The special journals include:

Cash receipts journal

Cash disbursements journal

Purchase Journal

Sales Journal

General Ledger

Accounts receivable subsidiary ledger

Accounts payable subsidiary ledger

Inventory records for software and for computers

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