1. Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balance of...

Question:

1. Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balance of Cash as of September 1, 2019.

2. Post the entries in Problem 8.2A from the general journal to the appropriate accounts in the general ledger and in the accounts payable ledger.

3. Prepare a schedule of accounts payable. Compare the balance of the Accounts Payable control account with the total of the schedule.

GENERAL LEDGER ACCOUNTS

101 Cash, $27,000 Dr.

201 Accounts Payable

501 Purchases

502 Freight In

503 Purchases Returns and Allowances

504 Purchases Discounts

ACCOUNTS PAYABLE LEDGER ACCOUNTS

Alaska Supply Company

Cold Mountain Clothing Company

Colorado Ski Shop

Swenson Ski Goods

Analyze:

What portion of the purchases in September, before purchases returns and allowances and before purchases discounts, were for clothing items? Include ski boots as a clothing item.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...