A company that records credit purchases in a purchases journal and records purchases returns in a general

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A company that records credit purchases in a purchases journal and records purchases returns in a general journal made the following errors. Indicate when each error should be di.scovered.
1. Made an addition en'or in totaling the Office Supplies column of the purchases journal.
2. Made an addition error in determining the balance of a creditor’s subsidiary account.
3. Posted a purchases return to the Accounts Payable account and to the creditor’s subsidiary account but did not post the purchases return to the Inventory account.
4. Correctly recorded a $8,000 purchase in the purchases journal but posted it to the creditor’s subsidiary account as a $800 purchase.
5. Posted a purchases return to the Inventory account and to the Accounts Payable account but did not post to the creditor’s subsidiary account.
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    Fundamental Accounting Principles Volume 2

    ISBN: 9780077716660

    21st Edition

    Authors: John Wild, Ken Shaw, Barbara Chiappetta

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