J. B. Speck, owner of Speck's 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.
23 Purchase Invoice No. 867, $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 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 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:
2 DATE NO 20 Sept 3 8 INVOICE 11 18 23 27 30 415 132 614 329 867 744 6...View the full answer
