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8. Following is information from James Company for its initial month of business. (20 points) a. Identify the balances that should be listed in
8. Following is information from James Company for its initial month of business. (20 points) a. Identify the balances that should be listed in the accounts payable subsidiary ledger for each vendor. b. Identify the accounts payable balance listed in the general ledger for month's end. Credit Purchases Jan. 10 ABC Company $10,000 Jan 12 Bailey Company $2,500 Jan. 19 Jan. 25 Cash Paid Bailey Company $ 500 ABC Company Jan. 25 Smith Inc. $1,000 Jan. 28 Smith Inc. $ 8000 $1,000 Bailey Company Smith, Inc. ACCOUNTS PAYABLE ABC Company
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