Purchases Transactions for Merchandising Business | Accounting How To | How to Pass Accounting Class

Purchases Transactions for Merchandising Business | Accounting How To is an accounting tutorial explaining purchase transactions in a merchandising business, purchase terms like net 30 and 1%/10, net 30, purchase discounts, and purchase returns. This is an accounting tutorial for accounting students, business owners, and bookkeepers to explain accounting basics for beginners. Featuring Terrance the T-Account Rex and accounting educator, Caroline Grimm, this accounting tutorial is part of two playlist series: How to Pass Accounting Class and Merchandise Businesses and Inventory Cost Methods. ⏰ Accounting How To Time Stamps: 00:00 Emotional Support Dinosaur (ESD) Warning 00:24 Introduction to Purchase and Sales Transactions 01:14 Introduction to Terms 03:06 Assume Discounts Are Always Taken? 04:39 Basic Purchase Transaction 05:08 Adding New Details to Purchase Transactions 05:54 Purchase Transactions Example 07:19 Purchase Transaction with Discount 09:37 Purchase Return 12:41 Next Steps & Free Homework Helper 🏋 Download the spreadsheet here: https://docs.google.com/spreadsheets/d/13Zu6nCLZYZQS1YvzFLSy4TLBzWzk1ezz2_16mvXg_1A/edit?usp=sharing