Peter Daly operates a photo printing centre in Whitehorse. All transactions requiring the payment of cash are

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Peter Daly operates a photo printing centre in Whitehorse. All transactions requiring the payment of cash are recorded in the cash payments journal (page 5). The account balances as of May 1, 2019, are as follows:

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Requireda. Journalize the following transactions.b. Record in the accounts payable ledger and post to the general ledger as appropriate.c. Prepare a schedule of accounts payable.

2019May 3 Paid half the amount owed Marrk Co. from previous purchases on account, less a 2% purchases discount, cheque No. 211.3 Bought a used delivery truck for $8,000 cash, cheque No. 212, payable to Ring Motors Co.7 Bought merchandise for cash from Dart Co., cheque No. 213, $3,900.18 Bought additional merchandise from Tack Co., cheque No. 214, $1,800.24 Paid P. Mark Co. the amount owed?no purchases discount, cheque No. 215.27 Paid rent expense to Downtown Realty Trust, cheque No. 216, $1,800.28 Paid utilities to City Utility Co., cheque No. 217; $400.31 Paid half the amount owed JNS Co., no discount, cheque No. 218.

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College Accounting A Practical Approach

ISBN: 978-0134166698

13th Canadian edition

Authors: Jeffrey Slater, Debra Good

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