Ann Benton, owner of Benton's Galleria, made the following purchases of merchandise on account during the month
Question:
Ann Benton, owner of Benton's Galleria, made the following purchases of merchandise on account during the month of October:
Oct. 2 Purchase Invoice No. 321, $1,950, from Boggs Distributors.
7 Purchase Invoice No. 152, $2,915, from Wolfs Wholesaler.
10 Purchase Invoice No. 634, $3,565, from Komuro & Co.
16 Purchase Invoice No. 349, $2,845, from Fritz & McCord, Inc.
24 Purchase Invoice No. 587, $3,370, from Boggs Distributors.
26 Purchase Invoice No. 764, $2,240, from Sanderson Company.
31 Purchase Invoice No. 672, $1,630, from Wolfs Wholesaler.
REQUIRED
1. Record the transactions in the purchases journal. Total and rule the journal.
2. Post from the purchases journal to the general ledger and accounts payable ledger accounts. Use account numbers as shown in the chapter.
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...
Step by Step Answer:
1 2 DATE 20 Oct 2 7 10 16 24 26 31 INVOICE NO 321 152 634 349 587 764 ...View the full answer
