1. Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balance of Cash as of April 1, 2019.
2. Post the entries in Problem 8.2B 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, $12,500 Dr.
201 Accounts Payable
501 Purchases
502 Freight In
503 Purchases Returns and Allowances
504 Purchases Discounts
ACCOUNTS PAYABLE LEDGER ACCOUNTS
Business Forms, Inc.
Special Occasion Cards
Mailing and Packing Center
Specialty Cards
Analyze:
What was the amount of purchase discounts in April?