A vendor account in the accounts payable subsidiary ledger of Frost Company follows Describe the three posted transactions LARRY CARPENTER Balance Credit Date Post Ref Debit Debit Credit Dec 1 1,800 12 P 4 2,340 4,140 20 J 10 200 3,940 29 CP 6 1,500 2,440...

Date Description Dec 12 From the purchases journal Frost Company m ...

A vendor account in the accounts payable subsidiary ledger of Frost Company follows. Describe the three posted

Question:

A vendor account in the subsidiary ledger of Frost Company follows.

LARRY CARPENTER Balance Credit Date Post. Ref. Debit Debit Credit Dec. 1 1,800 12 P.4 2,340 4,140 20 J.10 200 3,940 29 C

Describe the three posted transactions.

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...