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Journalizing transactions from a purchase invoice

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Journalize the following three transactions. No explanations are required. Willow Auto Services uses the perpetual inventory system.

1. On May 14, 2020, received the above invoice.

2. The L912 Belted-bias tires were ordered by mistake and therefore were returned to Lordy on May 19, 2020.

3. Payment was made May 22, 2020, to Lordy Auto Parts.

Problem 1: Journalizing transactions from a purchase invoice under the perpetual inventory system

Reference no: EM132945956

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