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Accounts Used by a Merchandising Company A new accountant began working for Atlas Stores...

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Accounting

Accounts Used by a Merchandising Company
A new accountant began working for Atlas Stores on July 1. During the month of July, the new accountant recorded the following group of purchase invoices.However, all four items were recorded as debits in the Purchases account.Merchandise $2900Office supplies $300 Office equipment $900Delivery expenses $250
Questions1: For each of the invoices, name the account that should have been debited.
Question2: what effect will the incorrect recording of these invoices have on the(a) Balance sheet?(b)Schedule of cost of goods sold?(c)Income statement?

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