J. B. Speck, owner of Specks Galleria, made the following purchases of merchandise on account during the
Question:
J. B. Speck, owner of Speck’s Galleria, made the following purchases of merchandise on account during the month of September:
Sept. 3 Purchase Invoice No. 415, $2,650, from Smith Distributors.
8 Purchase Invoice No. 132, $3,830, from Michaels Wholesaler.
11 Purchase Invoice No. 614, $3,140, from J. B. Sanders & Co.
18 Purchase Invoice No. 329, $2,250, from Bateman & Jones, Inc.
Sept. 23 Purchase Invoice No. 767, $4,160, from Smith Distributors.
27 Purchase Invoice No. 744, $1,980, from Anderson Company.
30 Purchase Invoice No. 652, $2,780, from Michaels Wholesaler.
REQUIRED
1. Record the transactions in a general journal.
2. Post from the general journal to the general ledger accounts and to the accounts payable ledger accounts. Use general ledger account numbers as shown in the chapter.
Accounts PayableAccounts 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 Sept 3 Purchases 8 Purchases Accounts PayableSmi...View the full answer
