Peter Daly operates a photo printing centre in Whitehorse. All transactions requiring the payment of cash are recorded in the cash payments journal (page 5). The account balances as of May 1, 2022, are as follows:

Required
a. Journalize the following transactions.
b. Record in the accounts payable ledger and post to the general ledger as appropriate.
c. Prepare a schedule of accounts payable.

2022
May 

3 Paid half the amount owed Marrk Co. from previous purchases on account, less a 2% purchases discount, cheque No. 211.
3 Bought a used delivery truck for $8,000 cash, cheque No. 212, payable to Ring Motors Co.
7 Bought merchandise for cash from Dart Co., cheque No. 213, $3,900.
18 Bought additional merchandise from Tack Co., cheque No. 214, $1,800.
24 Paid P. Mark Co. the amount owed—no purchases discount, cheque No. 215.
27 Paid rent expense to Downtown Realty Trust, cheque No. 216, $1,800.
28 Paid utilities to City Utility Co., cheque No. 217; $400.
31 Paid half the amount owed JNS Co., no discount, cheque No. 218.

Transcribed Image Text:

Account Cash Inventory Delivery Truck Accounts Payable Rent Expense Utilities Expense Accounts Payable Ledger Name Chedd Co. Marrk Co. JNS Co. P. Mark Co. Partial General Ledger Balance $2,400 1,100 700 2,500 Number 110 115 150 210 610 620 Balance $17,000 6,700 -