Bargain Beachwear & Accessories' purchases journal recorded five entries that were for valid transactions. However, the...

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Bargain Beachwear & Accessories' purchases journal recorded five entries that were for valid transactions. However, the purchases journal had several errors. Actually, only one entry was correct, and the other four entries had errors. PURCHASES JOURNAL Credits Debits OTHER ACCOUNTS Account Invoice Post Accounts Account Post DATE Credited Date Ref. Payable Inventory Supplies Title Ref. Amount June 5 Beach Apparel 06/04 6,900 Purchases Discounts 300 6,900 7 Furniture Forever 13 Quick Office Suppliers 06/06 5,000 5,000 06/13 2,000 2,000 17 Beach Swimwear 06/15 4,400 4,400 25 Sunny Sundresses 06/25 3,000 (3.000) Totals 18.300 9.400 2.000 6.900 (200) (120) (130) Required: A. Which entry in the purchases journal was recorded correctly? B. Prepare a corrected purchases journal. If required, create your own chart of account number. Bargain Beachwear & Accessories' purchases journal recorded five entries that were for valid transactions. However, the purchases journal had several errors. Actually, only one entry was correct, and the other four entries had errors. PURCHASES JOURNAL Credits Debits OTHER ACCOUNTS Account Invoice Post Accounts Account Post DATE Credited Date Ref. Payable Inventory Supplies Title Ref. Amount June 5 Beach Apparel 06/04 6,900 Purchases Discounts 300 6,900 7 Furniture Forever 13 Quick Office Suppliers 06/06 5,000 5,000 06/13 2,000 2,000 17 Beach Swimwear 06/15 4,400 4,400 25 Sunny Sundresses 06/25 3,000 (3.000) Totals 18.300 9.400 2.000 6.900 (200) (120) (130) Required: A. Which entry in the purchases journal was recorded correctly? B. Prepare a corrected purchases journal. If required, create your own chart of account number.

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