Apr 2 Purchased merchandise inventory on credit terms of 3/10, n/60 from Viking Co., $2,700. 5 Issued check no. 820 to purchase equipment for cash, $3,900.
11 Purchased merchandise inventory for cash, $300, issuing check no. 821.
12 Issued check no. 822 to pay Viking Co. net amount owed from Apr. 2.
19 Purchased office supplies on account from Danvers Supplies, $550. Terms were n/EOM.
24 Purchased merchandise inventory on credit terms of net 30 from Warren Sales, $1 ,700.
28 Issued check no. 823 to pay for insurance coverage, debiting Prepaid Insurance for $1 ,500.
29 Issued check no. 824 to pay rent for the month, $1 ,450.

Required:
a. Prepare headings for a purchases journal.
b. Journalize the transactions that should be recorded in the purchases journal.

5. understanding marginal and average tax rates consider the economy of citronia, where citizens consume only oranges. assume that oranges are priced at $1 each. the government has devised the following tax plans: plan a • consumption up to 1,000 oranges is taxed at 50%. • consumption higher than 1,000 oranges is taxed at 20%. plan b • consumption up to 2,000 oranges is taxed at 15%. • consumption higher than 2,000 oranges is taxed at 60%. use the plan a and plan b tax schemes to complete the following table by deriving the marginal and average tax rates under each tax plan at the consumption levels of 300 oranges, 1,200 oranges, and 3,000 oranges, respectively. consumption level plan a plan b (quantity of oranges) marginal tax rate average tax rate marginal tax rate average tax rate (percent) (percent) (percent) (percent) 300 1,200 3,000 complete the following table by indicating whether each plan is a progressive tax system, a proportional tax system, or a regressive tax system. progressive proportional regressive plan a plan b