Review your results from Short Exercise SB-8.

Requirements

1. Total each column of the purchases journal.

2. Open the following four-column accounts in the accounts payable subsidiary ledger: Accounts Payable-Bird Co.; Accounts Payable-Mayer Co.; Accounts Payable-Silly Co. Post the transactions to the accounts payable subsidiary ledger.

3. Open the following selected four-column accounts in the general ledger: Merchandise Inventory (115); Office Supplies (116); Furniture (151); Accounts Payable (211). Post the total of each column to the general ledger. Also, post the Other Accounts column to the general ledger.

4. Balance the total of the vendor ending balances in the accounts payable subsidiary ledger against Accounts Payable in the general ledger.

Short Exercise SB-8.

Oct. 1 Purchased merchandise inventory on account with credit terms of 4/10, n/30 from Mayer Co., $2,200.

11 Purchased office supplies on account from Bird Co., $600. Terms were n/EOM.

24 Purchased furniture on account with credit terms of 3/10, n/60 from Silly Co., $900.

Use the following purchases journal to record the preceding transactions.

Transcribed Image Text:

Purchases Journal Page 6 Other Accounts DR Merchandise Office Vendor Post Post. Accounts Account Date Account Credited Title Ref. Payable CR Inventory DR Supplies DR Terms Ref. Amount 2018