Which journal should york record the transactions

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Problem 1: York Trading has the following transaction for the month of November. In which Journal should York record these transactions?

i) On 1 November, York Trading purchased a computer for office use on credit for $3,500 from Mac Supplies.

ii) On 5 November, York Trading sold goods worth to $50,000 on credit to Mac supplies.

iii) On 8 November, Mac supplies returned $5,000 worth of damaged supplies.

iv) On 12 November, Mac supplies pays their outstanding account less their discount of 2.5% for paying within 7 days.

v) On 30 November York Trading is charged 2% interest on an overdue account by Mac Supplies for a software purchase on credit worth $800 on 2 October that remains outstanding

Reference no: EM132944640

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