Post the journal entries prepared in BE 22 to T-accounts. Assume that the opening balances in each

Question:

Post the journal entries prepared in BE 2–2 to T-accounts. Assume that the opening balances in each of the accounts is zero except for cash, accounts receivable, and accounts payable that had opening balances of $65,000, $43,000, and $22,000 respectively.

Prepare journal entries for each of the transactions listed in BE 2–1.

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...