PURCHASE INVOICE 1 4 2 1 Stamp date

PURCHASE INVOICE 1 4 2 1. Stamp date received and purchase invoice number. 2. Place a check mark by each amount. 3. Initials of person who checked invoice. 4. Review vendor’s terms of sale. 3 Lesson 10 -2, page 233 © 2000 South-Western Educational Publishing

PURCHASING MERCHANDISE ON ACCOUNT November 2. Purchased merchandise on account from Crown Ltd. , $2, 039. 99. Purchase Invoice No. 83. 1. Which accounts are affected? Purchases Accounts Payable 2. How is each account classified? Purchases is a cost account. Accounts Payable is a liability account. 3. How is each classification changed? Costs are increased. Liabilities are increased. 4. How is each amount entered in the accounts? Costs increase on the debit side. Liabilities increase on the credit side. Purchases Debit Normal Balance 2, 039. 00 Accounts Payable Credit Normal Balance 2, 039. 00 Lesson 10 -2, page 234 © 2000 South-Western Educational Publishing

PURCHASING MERCHANDISE ON ACCOUNT 1 2 3 4 5 1. Write the date. 2. Write the vendor name in the Account Title column. 3. Write the purchase invoice number in the Doc. No. column. 4. Write the credit amount. 5. Write the debit amount. Lesson 10 -2, page 234 © 2000 South-Western Educational Publishing

BUYING SUPPLIES FOR CASH 1 2 3 4 5 1. Write the date. 2. Write the account title. 3. Write the check number. 4. Write the debit amount. 5. Write the credit amount. Lesson 10 -2, page 235 © 2000 South-Western Educational Publishing

BUYING SUPPLIES ON ACCOUNT 1 2 3 4 6 5 1. Write the date. 2. Write the account title. 3. Write the memorandum number. 4. Write the debit amount. 5. Write the vendor name. 6. Write the credit amount. Lesson 10 -2, page 236 © 2000 South-Western Educational Publishing

TERMS REVIEW purchase invoice terms of sale Lesson 10 -2, page 237 © 2000 South-Western Educational Publishing